Bahamian IBC's take 4 working days. Cayman governmental exempt companies costs are almost twice as Anguilla. Guarantees against future taxes are provided by these governments for periods up to 50 years. My partners include a mid-size Law Firm with an office here in downtown Nassau and a U.S. Tax Consultant. The lawyers have over 40 years of business experience here in the Bahamas.
Lawyers also charge extra for drafting the trust instrument.
Administrative fees at the larger banks can also make their costs skyrocket. Tom's opinion is that a trust indenture drawn by a Bahamian Lawyer or trust company is all but worthless to a U.S. Taxpayer, they simply are not trained or knowledgeable in U.S. Tax Laws. We think so. Two directors are required for a Bahamian IBCs. We will prepare all the documents, forward the appropriate fees to the government registrar, etc.