Bahamas Company Formations
Bahamas is part of the British Commonwealth a politically stable country where income, capital gains, inheritance and transaction tax is not imposed for a period of 20 years from the date of incorporation.
A Bahamas IBC affords a high degree of confidentiality due to limited filing requirements. Only the name of the Company, its Registered Office and Agent’s names, the Company’s Memorandum and Articles of Association and the name of Directors and Officers are filed. A Bahamas International Business Company (IBC) can be incorporated in 3 days.
Features of a Bahamas International Business Company (IBC)
- Competitive incorporation and maintenance costs and fees
- Fast incorporation procedures and simple on going administration
- Only one director and two shareholders are required - the sole director can also act as a shareholder
- Directors and shareholders can be either corporations or individuals
- Directors, officers and shareholders details remain confidential
- No limitations as to nationality or residence of company directors or shareholders
- Full exemption from taxation on any business activity or transaction carried out outside the Bahamas
- All dividends, interest, royalties, rents and compensations are exempt from the payments of income tax
- Tax efficiency - exemption from capital gains tax, inheritance tax and death duties
- Shares may be denominated in any currency
- No issued share capital requirement
- No foreign exchange control
- No requirements for preparing and submitting accounts or filing an annual return
Bahamas International Business Company (IBC) Registration
- Reserving your Company Name
- Liaising with the local registrar and relevant authorities
- Structuring the company as per your requirements
- Prepare your Company Registration Forms
- Drafting the Articles of Association / Statutes
- File the documents with the Registrar General's Department
- Appoint the Directors
- Initial Government licence fee payable on incorporation
- Certificate of Incorporation
- Issue of shares and production of Share Certificates
- All documents and certificates supplied in a professional folder
- Delivery of documents by FedEx / DHL courier
- Incorporation documents will be provided electronically, with electronic certification and signatures of the Registrar.
- Registered Agents will be able to provide to their clients the electronic files via email
Bahamas Company Name Reservation
Reserving a company name costs $25 and is reserved for 14 days.
A Bahamas IBC's name must end with: Ltd, LLC, Corp, Inc, GmbH or SA.
- Only one director of any nationality is required
- The names of directors do not appear in public records
- There is no requirement for a local resident director
- Only one shareholder of any nationality is required
- The sole director can be the same as the sole shareholder
The International Companies Act 2000 makes no specific reference to a company secretary, but one is normally appointed to facilitate signing obligations. We can provide this service.
Authorised and Issued Share Capital
- The standard authorised share capital is US$5,000; divided into 5,000 shares x US$1.
- The share capital may be expressed in any currency.
- Minimum issued capital is two shares of no par value or two shares of par value.
The US$5,000 capital is the minimum duty payable at the time of incorporation and the maximum authorised share capital for the minimum licence fee payable annually.
Bahamas IBC Share Register
IBCs are obligated to maintain a Share Register at its Registered Office which shall contain: the names and addresses of the persons who hold registered shares and the register is private and no public filing of its contents is required
The company must maintain a Registered Agent and Registered Office in the Bahamas. The Registered Office is where documents may be legally served on the company.
In the Bahamas, the fiscal year runs from July 1 to June 30. - There are no requirements to file company financial statements.
There is no requirement to produce or file an annual return.
Companies in the Bahamas are totally tax exempt, guaranteed by law for 20 years from the date of incorporation. This includes no taxes on dividends, interest, royalties, rent, compensation, income, inheritance, etc . The Bahamas holds no double taxation treaties.