In addition to the much-covered business dealings of British prime minister David Cameron and Icelandic prime minister Sigmundur Davíð Gunnlaugsson, the leaked documents also contain identity information about the shareholders and directors of 214,000 shell companies set up by Mossack Fonseca, as well as some of their financial transactions. It is generally not against the law (in and of itself) to own an offshore shell company, although offshore shell companies may sometimes be used for illegal purposes.
In 1670, King Charles II granted the islands to the Lords Proprietors of the Carolinas in North America. They rented the islands from the king with rights of trading, tax, appointing governors, and administering the country from their base on New Providence. Piracy and attacks from hostile foreign powers were a constant threat. In 1684, Spanish corsair Juan de Alcon raided the capital Charles Town (later renamed Nassau), and in 1703, a joint Franco-Spanish expedition briefly occupied Nassau during the War of the Spanish Succession.
More InfoIn the 1820s during the period of the Seminole Wars in Florida, hundreds of North American slaves and African Seminoles escaped from Cape Florida to The Bahamas. They settled mostly on northwest Andros Island, where they developed the village of Red Bays. From eyewitness accounts, 300 escaped in a mass flight in 1823, aided by Bahamians in 27 sloops, with others using canoes for the journey. This was commemorated in 2004 by a large sign at Bill Baggs Cape Florida State Park. Some of their descendants in Red Bays continue African Seminole traditions in basket making and grave marking.
More InfoDuring the American War of Independence in the late 18th century, the islands became a target for US naval forces. Under the command of Commodore Esek Hopkins; US Marines, the US Navy occupied Nassau in 1776, before being evacuated a few days later. In 1782 a Spanish fleet appeared off the coast of Nassau, and the city surrendered without a fight. Spain returned possession of The Bahamas to Great Britain the following year, under the terms of the Treaty of Paris. Before the news was received however, the islands were recaptured by a small British force led by Andrew Deveaux.
More InfoPolitically, the first two decades were dominated by Pindling's PLP, who went on to win a string of electoral victories. Allegations of corruption, links with drug cartels and financial malfeasance within the Bahamian government failed to dent Pindling's popularity. Meanwhile, the economy underwent a dramatic growth period fueled by the twin pillars of tourism and offshore finance, significantly raising the standard of living on the islands. The Bahamas' booming economy led to it becoming a beacon for immigrants, most notably from Haiti.
More InfoDuring proprietary rule, The Bahamas became a haven for pirates, including Blackbeard (circa 1680–1718). To put an end to the 'Pirates' republic' and restore orderly government, Great Britain made The Bahamas a crown colony in 1718 under the royal governorship of Woodes Rogers. After a difficult struggle, he succeeded in suppressing piracy. In 1720, the Spanish attacked Nassau during the War of the Quadruple Alliance. In 1729, a local assembly was established giving a degree of self-governance for the English settlers. The reforms had been planned by the previous Governor George Phenney and authorised in July 1728.
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