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Example information from pages (# 22 & 23) in the book
Country |
BERMUDA |
TURKS/CAICOS
|
BAHAMAS (2) |
SAINT VINCENT |
Size |
21.4 Sq miles |
166 Sq miles |
5,382 Sq miles |
150 Sq miles |
Population |
65,000 |
7,000 |
200,000 |
124,000 |
Language |
English |
English |
English |
English |
Political Stability |
Very Good |
Excellent |
Very Good |
Very Good |
Corporate Tax Rate |
0% |
0% |
0% |
0% to 45% |
Resident Individual's Tax Rate |
0% |
0% |
0% |
0% to 45% |
Yearly Company Maintenance |
US $5,000 |
US $500 |
US $350 |
US $380 - $800 |
Initial Costs to .. Incorporate |
US $4,000 |
US $1,000 |
US $900 |
US $1,000 |
Annual Government - Tax
|
US $1,200 + |
US $300
|
US $100 to $350 |
US $190 |
Tax on Bank Deposits |
None |
None |
None |
No |
Bearer Shares |
No |
Yes |
Yes |
Yes |
Trust Laws |
Yes |
Yes |
Yes |
Yes |
Resident Agent Required |
No |
Yes |
Yes |
Yes |
Time to Incorporate |
3 Weeks |
24 Hours |
24 Hours |
Few Days |
Shareholder Meetings |
Anywhere |
Anywhere |
Anywhere |
Anywhere |
Location of Board Meetings |
Anywhere |
Anywhere |
Anywhere |
Anywhere |
Exchange Controls - Non-resident Company |
None |
None |
None |
None |
Shareholder Financial Statements |
Required |
Yes |
Yes |
Yes |
Filing Annual Returns with Government. |
Yes - for Companies |
No |
No
|
No |
Min. number of share holders to form company |
One |
One |
Two |
One |
Tax Treaties |
Limited US Treaty |
None |
None |
Many |
Capital Gains Taxes |
No |
No |
No |
No |
Estate / Inheritance Taxes |
No |
No |
No |
Yes (1) |
Note: (1.) Non - residents and International Companies are not subject to estate inheritance taxes. |
||||
Note: (2.) The new International Business Companies Act of 1989 went into effect early 1990. |
The Bahamas have one of the largest volumes of tax haven business in the world.
|
Corporations, individuals, partnerships, trusts & estates (including non resident controlled Bahamian corporations), all enjoy this immunity. The principal source of income for the government comes from the company registration fees & custom duties.
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