The Bahamas Foundation is a popular vehicle today by virtue of the Foundations Act 2004.
The Bahamas pioneered the use of Foundations, being the first common law country to introduce them specifically for the cross-border asset holding market. Individuals who own assets outside their home country would be well advised to consider the features and benefits of holding these assets in a Bahamian foundation structure.
Some key attractions can be summarised as follows:
- A limited liability entity registered in The Bahamas
- Particularly popular in Latin America and continental Europe
- Tax exempt with no Bahamian financial reporting requirements
- May continue indefinitely with no perpetuity period
- Suitable for private, commercial and charitable purposes
- Useful in Private Trust Company structures
Foundations are playing an increasingly prominent role in international estate planning and IPG’s services include:
- Establishing and maintaining foundations in The Bahamas
- Provision of the foundation council members and officers
- Provision of registered office and foundation secretary
- Full accounting services and preparation of annual financial statements