About The Bahamas
The Bahamas was first settled in 1684 during the English Civil War by Puritans from Bermuda seeking religious and political freedom. Their first settlements at Harbour Island and Spanish Wells greatly influenced the design of Sandyport.
Their dream of freedom endured and the Bahamas is a stable country with a democracy dating back to the first elections in 1729 and a member of the British Commonwealth.
The justice system is based upon English Common Law and the Privy Council in London is the highest court appeal. The Bahamas is one of the world's leading offshore financial centers, the economy is based on a free market and there is no personal income tax, capital gains tax, death duty or corporate taxation in the Bahamas.
The Bahamian Dollar is tied to the U.S. Dollar one for one and the two currencies are interchangeable. Foreign purchasers of real estate in The Bahamas can apply for Permanent Residence providing they meet certain criteria; this can have tax advantages in your home country.
Persons interested in Permanent Residency should discuss the matter further with a local attorney.