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If You Are Planning An Offshore Bank Formation, Try The Bahamas
Total Articles: 13
Not all countries, developing or otherwise, can prove to be an excellent place for long-term financial investments, especially if the laws and regulations are restrictive for businesses. Investors looking into foreign ventures should evaluate their options carefully, and go where the business climate is favorable. Those who are in the market for foreign investments may want to consider an offshore bank formation venture in the Bahamas:
Excellent Banking Environment
According to the Bahamas Financial Services Board, there are about 250 banks and trust companies in the country which have a combined balance sheet asset of about $300 billion. In addition to that, almost all of the largest banks in the world, like UBS and JP Morgan, have a presence in the Bahamas. Investor assets are secure with the help of about 80 insurance companies and 725 investment funds, which are worth at least $205 billion.
Favorable, Yet Strict, Regulations
The government allows a level of banking secrecy for investors such that a Monitoring Order from a Judge in Chambers has to be secured before an account can be scrutinized. Meanwhile, the country’s Anti-Terrorism Act allows authorities to immediately seize any bank account suspected of financing terrorist activity. To further entice investors into its shores, the Bahamas maintains a “no tax” policy and will continue to do so in the foreseeable future.
Large Real Estate Market
There are about 700 islands and cays in the Bahamian archipelago and many of them are still open for development into beachfront or oceanfront properties. The development is geared primarily towards tourism, although investors are making sure that the construction of these properties makes use of eco-friendly processes and sustainable materials. These investments that are worth billions in dollars are hot items in the Bahamas.
Entrepreneurs would definitely want to work with a Bahamas offshore bank because of its close proximity to the United States. Additionally, the Bahamas itself is a beautiful country with numerous beaches and islands. These are features that make Bahamas attractive to investors and tourists from around the globe.
The country also has a world-class labor pool. This is particularly true in the financial service and shipping industries. For more information about investing and offshore banking in the Bahamas, visit: www.thebahamasinvestor.com/2008/investing-why-the-bahamas/.
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