Why People Relocate and Incorporate in the Bahamas
When most people list the places they would love to end up, the Bahamas are at the top of the list. This makes sense, too, since the islands are beautiful. The weather is great, and when you go there, you may wonder why you have to come back. Some people take their vacations an additional step, and those are the folks who benefit the most from the great tax structures in the Bahamas. If you are thinking about making a move outside of the United States, the Bahamas are a great place to consider.
Tax rates sitting at zero
Though simply moving to the Bahamas will not make you a citizen, after spending some time there, you will have an opportunity to apply for citizenship. When that happens, you can start to take advantage of the tremendous tax benefits. The country has no personal income tax and there is a zero percent corporate tax rate, too. People who are trying to live out their later years with the best possible quality of living will certainly benefit from keeping more of their money. This can make retirement a lot more fun and a lot less stressful.
Sheltering money and passing assets to heirs
In the United States, some people will be subject to an estate tax when they try to pass along real estate to their heirs. This is not the case in the Bahamas. When you pass something along in your will, you will suffer no estate tax. This makes a lot of sense for people who want to make investments late in life. They may fear that their heirs will suffer tax implications as a result of those investments. This will not happen in the Bahamas, where the laws are designed to shelter assets from the long arm of the tax man.