BAHAMAS | Cardwell Capital Inc.

Features of Bahamas’ International Business Companies (BAH IBCs)

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

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

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.)

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

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.

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

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.

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.

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.

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