Type of Company - International Business Company (IBC).
Legislation - International Business Companies Act 1990, amended 2000.
Company name - A company name must end with Limited, Corporation, Incorporated, or an abbreviation thereof.
Time-scale for incorporation – 10 to 15 days.
Disclosure of beneficial owners prior to incorporation is required.
Double tax treaties – Bahamian IBCs are not subject to DTTs.
Ready-made companies are available.
Other corporate or partnership forms - Companies limited by guarantee and having a share capital, limited partnerships, limited duration companies.
Money laundering legislation is in existence.
Local Requirements
Registered Office and Registered Agent must be maintained.
Company Secretary not required but advisable. May be a natural person or corporate body in any country.
Public recording of shareholders and directors are not required, but must be kept at the Registered Office.
Accounts are not required for public filing.
Corporate Requirements
Minimum number of shareholders - One (1). Registered agent must subscribe to the Memorandum and Articles on incorporation.
Minimum number of directors - One (1).
Minimum capital requirement – None.
Standard Authorised Capital - US$50,000.
Bearer shares – NOT permitted
Corporate Directors are permitted.
Annual Requirements
Annual return and annual statutory meetings are not required.
Statutory accounting is not required.
Annual license fee or annual indirect tax of US$350 per annum for companies with authorized capital not exceeding US$50,000 and US$1,000 for companies with higher authorized capital.
Taxation - Fully exempt guaranteed for 20 years from registration.
