Bahamas: Inheritance Tax

The Probate and Administration of Estates Act (the "Act") was assented to on 8 February, 2011 and came into effect on 1 June, 2011.

The Bahamas is the first premier Common Law jurisdiction to introduce Foundations. Wendy Warren, CEO & Executive Director of the Bahamas Financial Services Board, says that in launching its Guide to Foundations, The Bahamas as a Common Law country has looked beyond its boundaries and traditions to be of greater relevance for estate planning by persons from civil law countries.

In The Bahamas, new legislation continues to be introduced to stimulate further growth and development of the country's well-established financial services sector.