Bermuda vs Bahamas: which jurisdiction wins?

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

	Bermuda	Bahamas
Tax headline	0% (15% CIT for in-scope MNEs from 2025)	0% income/corporate tax
Formation days	7	5
First-year cost	$6,500	$3,500
Treaties	Limited	Limited
Substance	Economic Substance Act 2018	ESA requirements
Banking	Butterfield, HSBC Bermuda, Clarien	Bahamian banks plus EMIs

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