Bahamas vs Cayman Islands: which jurisdiction wins?

Bahamas vs Cayman Islands — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Bahamas	Cayman Islands
Tax headline	0% income/corporate tax	0% corporate, capital gains, and income tax
Formation days	5	5
First-year cost	$3,500	$4,200
Treaties	Limited	Limited
Substance	ESA requirements	Economic Substance Law applies to relevant activities
Banking	Bahamian banks plus EMIs	Top-tier prime brokerage and crypto-friendly banking via Cayman National & private banks

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