Commonwealth Of The Bahamas

Financial services constitute the second-most important sector of the Bahamian economy, accounting for up to 15% of GDP, due to the country's status as a tax haven and offshore banking center. As of 2002, the government had licensed 301 banks and trust companies in The Bahamas. The Bahamas promulgated the International Business Companies (IBC) Act in January 1990 to enhance the country's status as a leading financial center. The act served to simplify and reduce the cost of incorporating offshore companies in The Bahamas. Within 9 years, more than 84,000 IBC-type companies had been established. In February 1991, the government also legalized the establishment of Asset Protection Trusts in The Bahamas. In 2000, in response to multilateral organizations' concerns, the government passed a legislative package of stronger measures to better regulate the financial sector and prevent money laundering in the country's banking sector, including creation of a Financial Intelligence Unit and enfo ... [Read More]

U.S. Dept. of State Chanceries Listing: B
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Department of State Washington File: Text: USTR on Special 301 Intellectual Property Country Reviews

The Commonwealth of the Bahamas recently assured the U.S. that it would amend its copyright law to eliminate provisions that create a compulsory license for unauthorized retransmissions by cable television systems of any copyrighted work transmitted over its territory, including encrypted transmissions. Such provisions violate the Bahamas' obligations under the Berne Convention. The Bahamas also agreed to revise its copyright law so that Internet transmissions are likewise not subject to compulsory licenses. "We are pleased that the Bahamas has agreed to prohibit unlicensed retransmissions of television broadcasts," said Ambassador Barshefsky. "This step helps to promote a sound environment for the protection of intellectual property in the Bahamas." ... [Read More]

Independent States in the World

Note 4:   "Congo" is the official short-form name for both the Republic of the Congo and the ...

Barbuda *+(no long-form name)ACSaint John'sArgentina *+Argentine RepublicARBuenos AiresArmenia *+Republic of ArmeniaAMYerevanAustralia *+Commonwealth of AustraliaASCanberraAustria *+Republic of AustriaAUViennaAzerbaijan *+Republic of AzerbaijanAJBakuBahamas, The *+Commonwealth ... [Read More]

Dirección de Asuntos del Hemisferio Occidental: Información general-- Las Bahamas

Los servicios financieros son el segundo sector importante para la economía de las Bahamas, y generan hasta el 15% del PIB, ya que el país tiene un régimen tributario especial y un centro bancario extraterritorial. Para diciembre de 1998, el gobierno había otorgado licencias a 418 bancos y compañías de inversiones en las Bahamas. Las Bahamas promulgaron la Ley de Empresas Internacionales (International Business Companies, IBC) en enero de 1990 para mejorar la imagen del país como principal centro financiero. La ley simplificó y redujo el costo para las compañías extranjeras que deseaban constituirse en sociedad en las Bahamas. En el plazo de 9 años, se establecieron más de 84.000 compañías IBC. En febrero de 1991 el gobierno también legalizó el establecimiento de fideicomisos para la protección de activos en las Bahamas. En diciembre de 2000 el gobierno promulgó una serie de leyes para regular mejor el sector financiero, incluida la creación de una Unidad de Inteligencia Financiera y l ... [Read More]

Bahamas, The

b. DisappearanceThere were no reports of politically motivated disappearances. c. Torture and Other Cruel, Inhuman, or Degrading Treatment or Punishment The Constitution prohibits torture and other cruel and degrading treatment or punishment; however, the police occasionally beat or otherwise abused suspects. Many of the charges of abuse involved beatings to extract confessions. There were no formal complaints involving beatings to extract confessions filed during the year; however, in April a Nassau man alleged that two police officers pulled him from his home and beat him without provocation. The victim displayed visible bruises to the media. At year's end, the matter was under active investigation by the police complaints unit. Human rights monitors and members of the public continued to express concern over such instances of police abuse of criminal suspects. Police officials, ... [Read More]

Bahamas

The authorities detain illegal immigrants, primarily Haitians and Cubans, at the detention center located off Carmichael Road until arrangements can be made for them to leave the country, or they obtain legal status. The detention center, which had been closed for repairs since suffering extensive damage from Hurricane Floyd in September 1999, reopened in December. Detainees had been housed in the women's prison at Fox Hill where conditions are austere. Female and child detainees were housed together with the general population and were afforded little privacy. Incidents of antagonism between detainees and guards were frequent. Most of these incidents involved the Cuban detainees, a few of whom had been in custody for over a year. There were numerous escapes from Fox Hill prison, particularly by Cuban detainees. In the newly reopened detention center, which can hold up to 600 detainees, women and men are housed separately. Haitians usually are repatriated within 2 weeks. Many detainees ... [Read More]

Bahamas, The

CUSTOMS REGULATIONS: The Bahamas customs authorities may enforce strict regulations concerning temporary importation into or export from The Bahamas of firearms. It is advisable to contact the Embassy of The Commonwealth of The Bahamas in Washington or one of the Bahamian consulates in the U.S. for specific information regarding customs requirements. Tourists who arrive by private boat are required to declare firearms to Bahamian Customs and leave firearms on the boat while in The Bahamas. In many countries around the world, counterfeit and pirated goods are widely available. Transactions involving such products are illegal and bringing them back into the United States may result in forfeiture and/or fines. A  current list of those countries with serious problems in this regard can be found at http://www.ustr.gov/rep ... [Read More]

Bahamas, The

The law permits private associations. c.  Freedom of Religion The Constitution provides for freedom of religion, and the Government generally respected this right in practice. The Constitution explicitly calls for respect for Christian values, and there were no allegations of violations of religious freedom during the year. For a more detailed discussion, see the 2003 International Religious Freedom Report. d. Freedom of Movement Within the Country, Foreign Travel, Emigration and Repatriation The Constitution provides for these rights, and the Government generally respected them in practice. The Government cooperated with the office of the U.N. High Commissioner for Refugees (UNHCR) and other humanitarian organizations in assisting refugees. [Read More]

Counternarcotics and Law Enforcement Country Program: The Bahamas

The U.S. Government and the Government of the Commonwealth of The Bahamas have enjoyed an excellent, cooperative counternarcotics working relationship for more than a decade. The Bahamas places a high priority on combating drug transshipments through its territory, as demonstrated by the extensive resources it devotes to this initiative. Nevertheless, The Bahamas remains a major drug transit country. Drug flow through The Bahamas rises and falls relative to increased or decreased pressure on alternate routes. Marijuana trafficking through The Bahamas is increasing, and The Bahamas continues as a significant money-laundering location. During 2002, total cocaine and marijuana seizures by Bahamian authorities with assistance from U.S. law enforcement agencies increased by 160 percent and 183 percent respectively, as compared to FY 2001. In addition, a joint Bahamian-U.S. investigation resulted in the arrest of 32 members of a major Bahamian drug trafficking ring, the Austin K ... [Read More]