The Commonwealth of the Bahamas is an archipelago of approximately 700 Islands and Islets located just 50 miles off the coast of Florida and extending 750 miles southeastwards to the tip of Cuba. The 700 Islands account for 5,400 sq. miles in total land mass and cover approximately 100,000 sq. miles in the Atlantic Ocean.

The Bahamas is one of the World's premier offshore financial centres and recent initiatives by the Government are geared to assist The Bahamas in re-gaining its place as the World's pre-eminent offshore financial centre. Apart from its convenient location, incomparable climate and established infrastructure, The Bahamas is a model of political, economic and social stability.

The Bahamas is serviced by frequent direct flights from Toronto and a number of North American Cities and is just 30 minutes from Miami, Florida. The telecommunications system is completely digital, providing instant dialing from every island to 120 Countries and is linked to trading rooms in New York, London, Geneva and elsewhere via the latest satellite, fiber optic and microwave equipment.

The Bahamas has one of the highest living standards in the Caribbean.

The Legal System of the Bahamas

The Bahamas is a former Colony of The United Kingdom and inherited its Common Law system which was one of the greatest exports of the British Empire.

The Law of The Bahamas is based on English Common Law supplemented by legislation promulgated by the Parliament of The Bahamas. Recent legislation has modernized Company and Trust Laws.

The Court System is also modeled after that of The United Kingdom. Magistrates' Courts hear minor criminal and civil cases, and the Supreme Court hears the more serious criminal and major civil cases. Appeals are heard by the Court of Appeal and the Privy Council in England, the highest Court of Appeal for The Bahamas.

The Government of the Bahamas

The Government is modeled on the British Constitutional pattern with a Prime Minister, a Cabinet of Ministers, an appointed Senate and a House of Assembly elected by the people to control and administer the day to day affairs of the country. The Head of State is Queen Elizabeth II and she is represented by an appointed Governor General.

On the 10th July 1973, The Bahamas became an Independent Nation and a Member of The Commonwealth of Nations. The Bahamas has a written Constitution which guarantees fundamental rights.

There are no income, inheritance, capital gains or profits taxes levied on individuals or companies in The Bahamas. The Government earns revenue primarily from import duties, stamp duty on real estate transactions, incorporation and annual registration fees payable by companies and annual licence fees payable by Banks and Trust companies.

The Banks and Trust Companies Regulation Act prohibits the disclosure of any financial information without proper authorization and imposes penalties of fines and or imprisonment for unauthorized disclosure.

In 1979, The Bahamas celebrated its 250th Anniversary of uninterrupted parliamentary democracy. It is a Member of the United Nations and its specialized Agencies.

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