Old Fort Financial has a truly global footprint with clients in every region of the world. Due to this fact we need to be domiciled in a location that guarantees the services and protections to meet our clients needs.
Advantages of The Bahamas:
The Bahamas is a Tier-A IOSCO Regulator and has some of the most serious compliance regulations in the world.
Neutral Tax Base:
Since its inception as a sovereign nation, the Bahamas has chosen to collect its taxes differently than most countries, with a heavy emphasis on consumption taxes. Duty makes up the biggest percentage of taxes collected, in addition to property taxes and a VAT on local spending.O An income or a corporate tax has never been levied, as it is viewed locally as a less-fair system of taxation. Of course clients operating through the Bahamas are responsible to abide by the laws of their home countries or country of residence; but by working through the Bahamas you at least begin from a neutral tax base and are not disadvantaged by an additional set of taxes.
Approach to CRS:
The Bahamas has a unique approach to the soon-to-be implemented Client Reporting Standard (CRS). The Bahamas has special permission from the OECD to sign treaties directly with each country on a country-by-country basis, instead of signing onto a pan-treaty like most nations have already done. The Bahamas has longer to implement this strategy, and will be in a position to sign more favorable information-sharing agreements rather than be forced to automatically turn over information upon request, as is the case for most countries.
We realize that we are in an industry where reputation rules. Protecting the information that clients have entrusted us with is paramount. Transparency and openness are an important part of today’s financial world. Operating with the full disclosure of beneficial owners and their source-of-funds is paramount; but like any institution in any jurisdiction, Old Fort Financial believes that protecting your privacy is important. Operating with account-holding in the Bahamas bolsters this security and makes us unique among our peers.
Strategically located at the crossroads of the Americas, The Bahamas is just 30 minutes off the coast of Florida. One of only a few countries with US pre-clearance, daily flights to major cities in North America and access to Latin America through direct flights to Panama. Easy access to Europe is ensured through direct flights to London.