The Bahamas as an Offshore Jurisdiction

Bahamian banking secrecy is somewhat misleading in that that banking institutions are prohibited from divulging a clients or account holders information to a third party without the clear consent of the account holder (think Americans may have to sign waivers when opening an account) or under a Bahamian court order. The bad part is that banking institutions are freely permitted to divulge that a particular person or company does in fact have an account with that bank. While the bank cannot, according to Bahamian law, divulge specific details or account balances, they certainly can divulge who their account holders are. This means wholesale fishing expeditions are a distinct possibility, for example give us a list of every account holder from a certain country. No wonder 45% of the deposits have left Bahamas banks since they went to this new legislation that compromises bank secrecy severely.

Bahamas corporations are not Bearer share and thus not anonymous. Interestingly enough a Bahamas LLC can not engage in business in the Bahamas or own real estate in the Bahamas, more negatives.

The Bahamas gets about 5 cruise ships a day on average with each cruise ship averaging about 2500 people. If we figure that each person on average spends $50 at port and that there is a head tax of about $20 per person coming to the Bahamas we can see why the Bahamas compromised their secrecy and privacy. If they didn’t they would risk losing their tourism business which employs more people than their banking ever did and also generates more revenue. The Bahamas was once a decent jurisdiction but they sold out to protect their largest industry – tourism. They have large beachfront hotels, gambling casinos, fishing, diving etc all more lucrative than their offshore banking was.

Bahamas fails to provide anything resembling a level of privacy that we require so stay away is our advice.

Bahamas Cruises Must Be Seen To Be Believed

Bahamas cruises are no longer only for the wealthy. Today, many people are able to enjoy some kind of cruise, whether only for a few days or a full week of fun. So, with the burgeoning cruise business, it was no surprise that a lot more companies would offer you Bahamas cruises. You can ship out on Disney, Royal Caribbean, Carnival, and Norwegian, to name just a few of the cruise lines around.

The Bahamas is definitely an island nation that offers lots of excitement; magnificent places to stay, secluded and clean beaches, scuba diving, fishing and gambling at casinos. However, the most fascinating part of a Bahamian vacation is the booze cruise. If you like the taste and smell of rum as well as the roar of the sea, the booze cruise could make your Bahamian vacation an unforgettable event.

A Bahamas cruise vacation is a perfect way to experience the islands from the comfort of a fun, activity-filled cruise ship. A cruise vacation is a perfect means to get a good tan, feel the sand between your toes, watch hundreds of unique species of Bahamian birds, animals and plant life, tour a pirate’s museum and taste exotic island dishes. Some cruises also provide adventurous water sports like snorkeling, diving and windsailing. A traveler can choose from an array of cruise vacations to Nassau, Freeport or Lucaya, according to his budget and leisure.

There are lots of deals to choose from. These include value added packages, adventure packages, all-inclusive packages, honeymoon vacation packages, deluxe packages, theme park packages, and travel packages. Bargain for the best discounted package and help save yourself a few dollars. The Bahamas is an all-year-round cruise location. But the school holiday periods make up the busiest times of the year for family cruise vacations. This may also be a perfect time for the entire family, because everybody will be totally free of tensions. Those looking for the best offers on a cruise to the Caribbean as well as the Bahamas need to check sailing dates in January, late spring or September through early December.