Bahamas International Business Company
General Information
- 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.