American film-maker Stanley Kubrick had an estimated personal worth of $20 million when he died in 1999, much of it invested in an 18th-century English manor he bought in 1978. He lived in that manor for the rest of his life, filming scenes from The Shining, Full Metal Jacket and Eyes Wide Shut there as well. Three holding companies set up by Mossack Fonseca now own the property, and are in turn held by trusts set up for his children and grandchildren. Since Kubrick was an American living in Britain, without the trust his estate would have had to pay transfer taxes to both governments and possibly have been forced to sell the property to obtain the liquid assets to pay them. Kubrick is buried on the grounds along with one of his daughters, and the rest of his family still lives there.
In 1818, the Home Office in London had ruled that "any slave brought to The Bahamas from outside the British West Indies would be manumitted." This led to a total of nearly 300 slaves owned by US nationals being freed from 1830 to 1835. The American slave ships Comet and Encomium used in the United States domestic coastwise slave trade, were wrecked off Abaco Island in December 1830 and February 1834, respectively. When wreckers took the masters, passengers and slaves into Nassau, customs officers seized the slaves and British colonial officials freed them, over the protests of the Americans. There were 165 slaves on the Comet and 48 on the Encomium. The United Kingdom finally paid an indemnity to the United States in those two cases in 1855, under the Treaty of Claims of 1853, which settled several compensation cases between the two countries.
More InfoThe islands' population is predominantly Christian. Protestant denominations collectively account for more than 70% of the population, with Baptists representing 35% of the population, Anglicans 15%, Pentecostals 8%, Church of God 5%, Seventh-day Adventists 5% and Methodists 4%. There is also a significant Roman Catholic community accounting for about 14%. There are also smaller communities of Jews, Muslims, Baha'is, Hindus, Rastafarians and practitioners of traditional African religions such as Obeah.
More InfoSlavery was abolished in the British Empire on 1 August 1834. After that British colonial officials freed 78 North American slaves from the Enterprise, which went into Bermuda in 1835; and 38 from the Hermosa, which wrecked off Abaco Island in 1840. The most notable case was that of the Creole in 1841: as a result of a slave revolt on board, the leaders ordered the US brig to Nassau. It was carrying 135 slaves from Virginia destined for sale in New Orleans. The Bahamian officials freed the 128 slaves who chose to stay in the islands. The Creole case has been described as the "most successful slave revolt in U.S. history".
More InfoThe government has adopted incentives to encourage foreign financial business, and further banking and finance reforms are in progress. The government plans to merge the regulatory functions of key financial institutions, including the Central Bank of the Bahamas (CBB) and the Securities and Exchange Commission. The Central Bank administers restrictions and controls on capital and money market instruments. The Bahamas International Securities Exchange consists of 19 listed public companies. Reflecting the relative soundness of the banking system (mostly populated by Canadian banks), the impact of the global financial crisis on the financial sector was limited.
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