1989 - 2018 29 years in business Saturday, 20th January 2018

BAHAMAS



 
Features of Bahamas’ International Business Companies (BAH IBCs)

INTERNATIONAL BUSINESS COMPANIES (IBCs)

 

BUSINESS TRANSACTIONS

  • IBCs may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose.

 

TAXATION

  • Full Exemption from taxation for any business activity or transactions carried out outside the Bahamas.

 

AUTHORISED CAPITAL / SHARES

  • Only nominative/registered shares are allowed.
  • No minimum or maximum capital requirements.

 

DIRECTORS, OFFICERS AND SHAREHOLDERS

  • Shareholders, directors and/ or officers can be either corporate entities or natural persons.
  • Initial or ongoing changes in directors and / or officers need to be filed with Bahamas Registry.
  • The directors may grant special or general powers of attorney.
  • Companies are allowed to have a sole director.
  • Neither the directors nor the officers need to be shareholders.
  • Shareholders, directors and officers may be of any nationality and may be residents of any country.
  • Shareholders and directors may hold their meetings in any country and may attend such meetings by proxy or by any electronic means (phone, fax, etc.)

 

ANNUAL FILING

  • No requirement to file annual returns or financial statements, no requirement to hold annual general meetings of Share holders or directors.

 

INCORPORATION AND ADMINISTRATION

  • Excellent availability of company names for incorporation.
  • Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation) because the Bahamas belongs to the British Commonwealth.
  • The words “Limited”, “Corporation”, “Incorporated”, “Société Anonyme” or  “Sociedad Anónima” or the abbreviations “Ltd.” “Inc.” or “S.A.” may be used as a company’s name ending.
  • Incorporation documents may be drafted in any language and submitted together with an English translation.
  • Speedy incorporation procedures and simple ongoing administration.
  • Incorporation procedure takes 3 to 4 days.
  • The Bahamas Registry is equipped with modern sophisticated computer equipment improving speed and efficiency in the processing of documents in a timely manner.
  • Shelf companies are available.

 

RECORD KEEPING

  • The company’s accounting books, records and minutes may be kept in any place or country chosen by the director

 

REGISTERED OFFICE, CORPORATE SEAL AND LEGALIZATION

  • Registered Office in the Bahamas required.
  • Corporate seal is mandatory.
  • The apostille is normally used to legalize documentation. Legalization via a consulate is also available for some countries.

 

COSTS AND FEES

  • Reasonable formation and maintenance costs and fees.

 

CONTINUATION

  • Foreign companies can be speedily continued to the Bahamas.

 

USES OF BAHAMAS INTERNATIONAL BUSINESS COMPANIES (IBCs)  

  • Holder of bank accounts, fixed deposits, investments plans and any other financial or commercial title.
  • Owner of the shares of other companies or legal entities.
  • Owner of apartments, houses, buildings, vessels and any other movable or immovable property or goods.
  • Manager and promoter of international business transactions.
  • International leasing of vehicles, machinery and others.
  • Borrowing or lending money, paying or receiving commissions, royalties or other.
  • Marketing and promotion of products and services.
  • Other commercial and financial activities.

 

HIGHLIGHTS OF  BAHAMAS

  • Excellent corporation law.
  • Flexible company law.
  • No taxes levied on international and banking transactions.
  • No exchange control regulations.
  • Political and economic stability.
  • Serviced by major world airlines.
  • Excellence hotel accommodations.
  • Excellent worldwide communication facilities.
  • Skilled personnel.
  • No capital gains, income or other kinds of taxes.

 

 

DOCUMENTS REQUIRED TO BE KEPT AT THE REGISTERED OFFICE (BAHAMAS), IN ACCORDANCE WITH THE LAW

 

  • The following information/documents are required to be kept at the registered office of the company.
  • Appropriate character references and other due diligence documents, as required.
  • Complete and updated Share Register shall be kept at the Registered Office of the company, containing information of the name(s) and address (es) of the shareholders.
  • Complete and updated  Register of directors and officers shall be kept at the registered office of the company and a copy of this document to be filed at the registrar of companies of the Bahamas.
  • Adoption of corporate seal is mandatory. An impression of same must be kept at the registered agent’s office.

 

SOCIAL AND ECONOMIC INDICATORS

Location: 40 – 60 miles east of Florida (U.S.A)
Area: 700 islands comprising 5,358 square miles, Most Bahamians live in the two major urban
Centers: Nassau and Freeport. 
Population: 307,451 (2009 Est.)
Climate: Tropical
Official Language: English
Government: Parliamentary Democracy. Member of the British Commonwealth recognizing Queen Elizabeth II as head of state.
Living Standard: High
Banking: Worldwide banking facilities available
Legal Tender: Bahamian dollar, which is on a par with The U.S dollar
Industry: Tourism, Financial services and small industries

 

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