Cornèr Bank (Overseas) Limited was established in Nassau, the capital of the Commonwealth of The Bahamas in 1996, and is licensed and supervised by both the Central Bank of the Bahamas and the Securities Commission of the Bahamas. The Bahamas is a leader in the Western Hemisphere as a wealth management jurisdiction. The Bahamas is a politically stable democracy, with a Parliament established in 1729, one of the oldest in the British Commonwealth, geographically situated near Latin American financial centres and with easy and direct links to major transportation hubs worldwide. The Bahamas Government levies no taxes on capital gains, inheritance, or income. Nassau boasts a broad network of international accounting and legal firms and specialists and, due to the prominence of the financial services industry, The Bahamas has developed uniquely specialized financial services legislation setting them apart from other jurisdictions.