ABLV Bank Luxembourg, S.A.
26A Boulevard Royal
L-2449 Luxembourg 		Tel: +352 27 85 45 1
Fax: +352 27 85 45 900
E-mail: info@ablv.lu

www.ablv.lu
ABLV

Bahamas Amends Residency Rules To Boost Investment

May 31, 2011, 16:40 / Advisory / Jurisdictions: Bahamas, Nevis, Source: Tax-news

In an effort to bolster its attractiveness as a centre for foreign investment, the Bahamas has made a significant amendments to its investment related residency policy, accelerating the process under which residency considerations are made.

The changes have been made to the Bahamas's National Investment Policy (NIP), which, according to the government, is designed to increase certainty and transparency in the country's business and investment environment.

Under the new rules, investors and individuals purchasing a residence of USD1.5m or more will benefit from accelerated permanent residency consideration.

Such status is conferred on an approved individual for the duration of their lifetime, providing the right to live and work in the Bahamas. When seeking permanent residence, an individual is required to make a minimum investment of USD500,000. Now, in the case of an investment of USD1.5m or more, applications will be reviewed within 21 days.

It should be noted that many of so called “island states” offer opportunities to obtain status of permanent resident or citizen. For example, Nevis allows becoming a citizen in case of investing USD350,000 in real estate purchase or contributing USD200,000 to Sugar Industry Diversification Foundation. New residents of “island states” are often exempt from paying income tax and also can travel without visa to many countries. Thus, investors holding a Nevis passport can freely enter Great Britain, Canada, Schengen states and 40 more countries.

For additional information on residence change, contact specialists of ABLV Corporate Services Asset Structuring Department.

This article has been prepared by specialists of ABLV Corporate Services based on mass media publications. Specialists of ABLV Corporate Services provide legal and tax advise, including advise on international tax planning, establishment of holdings, trade, investment, and protection structures, purchase of real estate and other assets, as well as advise on change of residence and acquirement of residence permits. More detailed information on services provided by ABLV Corporate Services can be found at http://www.ablv.com/ru/services/advisory

All news

This information on products and services is provided for information only and may not be treated as a commercial offer or a prompt to any person in any jurisdiction to buy or sell assets, structured products or services of ABLV Corporate Services (and/or its partners). Assessing any services described herein, a conclusion by independent lawyer, tax specialist and/or auditor should be obtained.

ABLV Corporate Services does not guarantee completeness and accuracy of the provided information. The information and conclusions as well as indicated prices may be changed any time without notice. This information may not be reproduced, copied or passed to a third party without prior consent of ABLV Corporate Services. Products and services may be provided by partners of ABLV Corporate Services. Endowment insurance products and services are provided by a licensed insurance company that is not related to ABLV Corporate Services. Copyright to this material belongs to ABLV Corporate Services.