Bahamas

Offshore IBC Company

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Company Formation in Bahamas

The Bahamas, known officially as the Commonwealth of the Bahamas, is an archipelagic state within the Lucayan Archipelago. It consists of more than 700 islands, cays, and islets in the Atlantic Ocean with capital at Nassau on the island of New Providence.

With the legal system based upon British Common Law, Bahamas offshore has become one of the most sophisticated and powerful centers of the global offshore financial services industry.

As an English-speaking country making up part of the Caribbean area, the Bahamas has excellent communications system with direct flights from Europe, as well for US cities with Miami at only 30 minutes away. In July 1973, the Bahamas become an independent nation and a Member of the Commonwealth of Nations with the Court System modeled after United Kingdom having Magistrates Courts and a Supreme Court.

The Bahamas offshore is a well-known center for offshore activities, especially for its financial privacy laws, giving clients a secure jurisdiction with minimal regulations, including no financial reporting requirements and non-disclosure clauses protecting shareholder information.

Companies that do not derive any income from sources in Bahamas are not subject to tax.

Advantages of company incorporation in Bahamas:

British Common Law legal system Bahamas is a very stable jurisdiction with an excellent reputation;

English is the official language and all the workplace, including contracts written, assessed are implemented in English;

Based on the International Business Companies Act 2000 amended in 2004, giving more flexibility to IBCs, a Bahamas IBC is tax-free if it does not conduct business within its territory (but it may enter into business with other Bahamas offshore company, own Bahamian real estate, but local exchange controls and stamp duty will apply in these cases );

No taxes of any sort – Corporation tax 0%, Tax on Dividends – 0%, Withholding tax – 0%;

In place of tax, there is a fixed annual government fee, as well as an annual registered agent fee;

There are no restrictions on foreign Directors or Shareholders, individual or corporate;

The share capital may be expressed in any currency. The minimum issued capital is either two shares of no par value or two shares of par value. The normal authorized share capital is US$50,000;

There is no withholding tax on interest, dividends and royalty, no capital gains tax for Bahamas offshore;

Interim dividends distribution is allowed. Distribution to foreign entities or individuals are not taxed in Bahamas;

Nominee services are available for Bahamas company formation;

No requirement for filing of financial accounts or audit, only to maintain them and keep reliable accounting records;

Board Meetings can be held anywhere in the world.

Summary of Bahamas Company and main characteristics:

General Information 
Type of companyInternational Business Company (IBC)
Corporate LegislationCompanies in Bahamas are regulated under the IBC Act 2000. The Securities Commission of the Bahamas is the governing authority.
TaxationNo taxes of any sort.
Corporation Tax – 0%
Tax on Dividends – 0%

Withholding tax – 0%
CurrencyStandard Currency USD$
Share Capital can be in any currency.
Paid up capital requirementNo paid up capital required.
Time zoneGMT-5
Directors
Minimum no. required1
Local Director requiredNo
Location of MeetingsAnywhere
Shareholders
Minimum no. required1
Location of MeetingsAnywhere
Company Secretary
RequiredNo
Local Secretary requiredNo
Registered office requiredYes
Share Capital
Standard CurrencyUSD$
Standard Authorized Capital50.000 USD$
Minimum paid up capitalNo
Accounting Requirements
Preparation of accountsMaintenance of financial accounts and keep reliable accounting records
Requirement for auditNo
Accounts public accessibleNo
Requirement to file Annual ReturnNo
Further Information
Bearer sharesNo
ConfidentialityYes
Nominee servicesAvailable
Need to travelNo
ApostilleYes, Hague Convention 1961
OwnersIndividuals or Corporate

Register your Bahamas Company

Company Formation – with all services included for the first year: € 2100;

Certificate of Incorporation;

Memorandum and Articles of Association;

Appointment of Director(s), Distribution of Shares, Minutes, Resolutions in accordance with banks requirements;

Share Certificate(s);
Authorized Share Capital of 50,000USD$;

Local Registered Office Address;

Registered Agent;

Personal manager assistance for the entire period.

Renewal Fee after one year – with all services included for the next year: 1450

Local Registered Office Address;

Registered Agent;

Government annual fees;

Personal manager assistance for the entire period.

Nominee Director – Individual or Corporate as per client’s request: € 850

Nominee Shareholder – Individual or Corporate as per client’s request: € 800

Power of Attorney – General / Special PoA Notary Legalized with Apostille, in accordance official institutions and with banks requirements: € 500

Certificate of Good Standing with Apostille, in accordance with official institutions and banks requirements: € 450

Certificate of Incumbency with Apostille, in accordance with official institutions and banks requirements: € 450

Legalization of Documents:

  • Document Notarization per document: € 500
  • Bundle of documents Notarization;
  • Document Apostillation per document;
  • Bundle of documents Apostillation.

Company Seal: € 100

Company Rubber Stamp: € 150

Bank Account opening service – Quotation based on each particular case;

Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review: € 75/hour

Accounting & Bookkeeping – Quotation based on each particular case.