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Business Opportunities In The Bahamas
By Matt Earle1
Thanks largely to the Bahamas’ convenient location and commitment to tax neutrality, it has become a recognized and respected offshore financial center. The stable political and financial environment provides security, while confidentiality of banker-client relations is strictly adhered to and enforced by law. Due to the expansive growth of the Bahamas as a major financial center, there are a variety of Bahamas financial services available to suit a variety of investment needs. If you are looking for offshore asset protection or tax relief, the Bahamas offers several options that may work for you.
One of the most attractive aspects of doing business in the Bahamas is the freedom from taxes on income, capital gains, profits, gifts, inheritance, and estates. There is no withholding tax on dividends, interest, or royalties, and there are no payroll taxes. In addition to the financial benefits, there is a wide selection of highly trained professionals available to assist you, such as lawyers and accountants.
Bahamas financial services include banking, private banking, trust services, investment fund administration, capital markets, investment advisory services, e-commerce, insurance, corporation formation, and shipping registries.
The Bahamian Trust
When established, a Bahamian trust must be designated as “resident” or “non-resident.” Bahamian law allows for the establishment of three types of trusts:
1.Standard Trust
An asset protection trust that can be either revocable or non-revocable.
2.Testamentary Trust
A trust which is activated upon the of the Settlor, transferring assets to the estate.
3.Charity Trust
To qualify, beneficiaries have to be genuine charities. There is no perpetuity period.
When establishing a Bahamian trust, the attorney must know who the trustees will be, how and when beneficiaries will receive assets from the trust, if there will be a protector, and what the protector’s powers will be.
The trustee’s powers must be stated in the document, and the Settlor is allowed to expressly recognize Bahamian law as the governing law of the trust. If the document does not stipulate a fee to be paid the trustee, then the trustee cannot take compensation. If the trustee is given a fee, it can be either a flat fee or a percentage of the trust assets.
As a Bahamian trust is deemed a private agreement, registration with a government agency is not a requirement. Therefore, no business license fees, filing fees, or registered office fees are payable.
Corporations
In order to incorporate in the Bahamas, the company must file a Memorandum of Association
TEMPLE OF BRUTALITY
Temple of Brutality es el nombre del nuevo proyecto formado por el ex-bajista de MEGADETH David Ellefson, el bater?de W.A.S.P. Stet Howland, el guitarrista Peter Scheithauer (BELLADONNA, KILLING MACHINE) y al vocalista fr 13-A Todd Barnes.
<br />
<br />Esta nueva formaci?ebuta con un album llamado "Lethal Agenda" y que contiene el siguiente track List:
<br />
<br />01. Lethal Agenda
<br />02. Hammer
<br />03. Already Dead
<br />04. Doesn't Matter
<br />05. Hate Machine
<br />06. Isabel
<br />07. Beating the Man
<br />08. Built to Last
<br />09. Interlude
<br />10. The Art of War
ANNIHILATOR - SCHIZO DELUXE
El nuevo Album de ANNIHILATOR llevar?or nombre "Schizo Deluxe" y saldr?ditado el pr?o 14 de Noviembre, por AFM Records.
<br />
<br /><img src="http://www.adl.at/artists/profiles/a/annihilator/annihilator.jpg" alt="Imagen" />
OPETH - GHOST REVERIES
Bueno pues el 29 de Agosto ya tenemos el nuevo de OPETH en la calle.. estoy impacieeeente aqui os dejo el track list y la portada
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<br />Tracklist:
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<br />01. Ghost of Perdition
<br />02. The Baying of the Hounds
<br />03. Beneath the Mire
<br />04. Atonement
<br />05. Reverie/Harlequin Forest
<br />06. Hours of Wealth
<br />07. The Grand Conjuration
<br />08. Isolation Years
<br />
<br /><img src="http://www.roadrun.com/shared/pictures/Opeth/OPETH_COVER-550.jpg" alt="Imagen" />
PIORNO ROCK 2005
A falta de dos grupos por confirmar para tener completo el cartel del Piorno de este a?que se celebrara el proximo 12 de noviembre enb el polideportivo De Pinos Puente de Granada, los grupos que conformar?el cartel son:
<br />
<br /><div style="text-align:center">UFO
<br />CLAWFINGER
<br />SAMAEL
<br />WARCRY
<br />KOMA
<br />SKUNK D.F. </div>
GIRA STEVE VAI 2005
Ya estan confirmadas las fechas en Espa?el Tour Europeo de Vai "Real Illusions 2005" que cuenta con Eric Sardinas como telonero.
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<br />5 de Noviembre - Madrid (La Riviera)
<br />6 de Noviembre - Industrial Copera (Granada)
<br />7 de Noviembre - Razzmatazz (Barcelona)
<br />8 de Noviembre - Valencia (Republicca)
<br />9 de Noviembre - Bilbao (Santana).
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<br />El line up con el que el guitarrista cuenta para esta ocasi?star?ormado por:
<br />
<br />Billy Sheehan: Bajo
<br />Tony MacAlpine: Guitarra
<br />Dave Weiner: Guitarra
<br />Jeremy Colson: Bater?<br />
<br /><img src="http://www.webalice.it/vlimages/02/stevevaig3r3n2.jpg" alt="Imagen" />
MICHAEL SCHENKER GROUP - "LIVE IN TOKYO 1997"
El 12 de Julio saldr? la venta el DVD de Michael Schenker Group, "Live In Tokyo 1997", y contendr?a actuaci?el guitarrista alem?que tuvo lugar el 19 de Marzo de este mismo a?<br />
<br /><img src="http://territorio.terra.com.br/canais/rockonline/biografias/fotos/2_162.jpg" alt="Imagen" />
CRADLE OF FILT
Por motivos personales, Martin Powell, teclista de Cradle of Filth ha decidido abandonar el grupo que tiene previsto editar nuevo cd a princpios del 2006
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<br /><img src="http://www.theophanyrecords.com/CRADLE%20OF%20FILTH-1-25.jpg" alt="Imagen" />
with the Registrar General. Articles of Association may be filed at the same time or up to six months from the date the Memorandum of Association is filed. Other requirements for incorporation include:
•The Memorandum of Association must be signed by at least two subscribers, in the presence of at least one witness.
•Each subscriber must subscribe for at least one share
•A non-resident subscriber is required in order to obtain exchange control permission.
•A declaration signed by subscriber’s counsel must be submitted with the Memorandum of Association, describing the capacity of the incorporating subscribers.
Only two subscribers are needed to incorporate, and meetings may be held outside of the Bahamas.
A private company must be managed by two directors, and a public company must be managed by three directors. Directors shall submit financial statements and the report of the auditor to the annual general meeting.
Every business must have a license to operate in the Bahamas. Fees are normally based on a percentage of annual gross receipts.
International Business Companies
International Business Companies are formed for a variety of reasons, including formation of mutual funds, ship registration, conducting import/export operations, and such.
IBC’s re exempt from all business license fees and do not require a license under the Business License Act. Shareholders are exempt from all income taxes, capital gains taxes, and corporate taxes.
No public records are maintained, ensuring the privacy of shareholders and directors.
An IBC is a company that does not carry on business with residents of The Bahamas, does not own a real estate interest or lease property other than office space in The Bahamas, does not participate in banking, trust, or insurance businesses, and does not provide a registered office for companies.
An IBC is allowed to conduct foreign exchange business without exchange control restrictions, and licensing fees and service charges are low.
This is just a brief overview of some of the Bahamas' financial services and does not necessarily include all requirements or powers allowed under Bahamian law. By: Matt Earle1 Article Directory: http://www.articledashboard.com International companies looking for tax-exempt business options may review our Bahamas’ case studies, prepared by the specialists at LOM Financial Services.
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