The Bahamas: A Tradition for Providing Solutions and Stability for the International Investor and Resident.

The Commonwealth of The Bahamas comprises a 100,000-square-mile archipelago of 700 islands, situated in the Atlantic Ocean, just 50 miles off the coast of Florida. Just over 300,000 inhabitants live here and its year-round sub-tropical climate and beautiful beaches attract over 3 million tourists annually. The Bahamas can boast of being host to the first recorded visitor to the Western Hemisphere in 1492 when Christopher Columbus made his historic encounter with western civilization by making landfall on one of the islands of The Bahamas.

Historic links with Great Britain span three centuries and many British legal, educational and parliamentary traditions endure today. Since 1729, the tradition of democratically elected legislatures has continued without interruption and, having gained its independence in 1973, The Bahamas enjoys a worldwide reputation as a politically stable, economically sound, premier financial centre. Known today as the “Switzerland of the Western Hemisphere”, The Bahamas became the world’s first offshore financial center in 1908 when the Royal Bank of Canada opened its doors in Nassau to provide financial services to Canadian winter residents. Today, a significant number of major international financial institutions are represented in The Bahamas, making financial services the second largest domestic economic sector after tourism.

Bahamian banking and business practices embody important elements of international finance - the Common Law concept of trusts, assurance of confidentiality, and asset protection. As a sovereign territory, The Bahamas is not currently party to any double taxation treaty, although a fiscal information sharing agreement has been established only with the United States of America. An enhanced regulatory regime and investment incentive program contribute to make The Bahamas an appealing location for direct foreign investments, international business, and international financial transactions. Moreover, it is a tax-advantaged jurisdiction – no withholding taxes and no taxes on personal or corporate income, capital gains, wealth, estate or inheritance.

It is in this jurisdiction and proactive environment, conducive for the conduct of international financial services, that MCP2 has made a commitment to provide professional and personalized service and the provision of solutions to your requirements.