Bahamas Non-Resident Trust

Bahamian trust law is based on English common law, and the Bahamian Trustee Act 1893. In the last 15 or so years, the Bahamas have extended and adapted their trust laws, most recently with a new Trustee Act 1998, to accommodate a wider market, which is not necessarily interested so much just in tax avoidance, but also in the efficient management of wealth in a more general sense. The Trust (Choice of Governing Law) Act 1989 gives protection to Bahamian trusts and their settlers in civil law countries against forced inheritance claims. The Act makes Bahamian law the proper law of a trust if the deed so declares, and makes the trust immune to foreign judgements.

 

Key Features

Bahamas Non-Resident Trust

Corporate Details

General

  • Type of entity

Non-Resident Trust

  • Type of law

Follow English law/As per Trust Deed

  • Our time to establish a Trust

2 weeks

  • Taxation of trust assets

None

  • Limitation period for action against Trustee

2 years from date of establishment of trust

  • Duration

100 years (except charitable international trust or a purpose international trust)

  • Restriction on Investment of Trust asset

No

  • Exchange control

None

  • Succession

As per Trust Deed

  • Settlor

Must be a non-resident of Bahamas

  • Beneficiary

Must be a non-resident of Bahamas

  • Property

Should not include immovable property situated in the Bahamas

  • Jurisdiction

Bahamas Supreme Court

  • Forced heirship applicable

No

Trust asset

  • Restriction on type/amount

No, except property situated in the Bahamas

  • Protection

Protected from Creditors

 Trustee   

  • Minimum number

1 if corporate and 2 or more if not corporate

  • Qualification

Minimum one Bahamas resident

Accounts

  • Requirement to file

No

  • Publicly accessible

No

Telephone:

+248 252 5217

[email protected]

vf-international.com