Bahamas Company Formation

Worldwide Incorporation Services specializes in Bahamas IBC formation (Bahamas Offshore Company) and opening Offshore Bank Accounts.

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Jurisdictions >> Bahamas Corporation >> Bahamas Company Formation

Bahamas Company. Bahamas Offshore Company.

Worldwide Incorporation Services specializes in Bahamas Company Formation and opening Bahamas Offshore Bank Accounts.

Bahamas – General Information

Bahamas Company Formation

Location: Chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba.
Area: total: 13,880 sq km, land: 10,010 sq km, water: 3,870 sq km.
Natural resources: Salt, aragonite, timber, arable land.
Population: 329,988.
Capital: Nassau.
Time Zone: UTC−5.
Languages: English (official), Creole (among Haitian immigrants).
Government type: Parliamentary democracy (Parliament) under a constitutional monarchy; a Commonwealth realm.
Legal system: Common law system based on the English model.
International organization participation: ACP, AOSIS, C, Caricom, CDB, CELAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC (NGOs), ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ISO (correspondent), ITSO, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW, Petrocaribe, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO (observer).
Economy: The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% of GDP and directly or indirectly employs half of the archipelago’s labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors.
Currency: Bahamian dollar (BSD).

Bahamas Offshore Company Registration – Overview

The Bahamas is an ideal financial location for individuals and corporations seeking to gain tax advantages with confidentiality. A Bahamas Offshore Company can be used for asset protection, estate planning, tax mitigation and privacy. The most direct path toward attaining these advantages is by the formation of an international business company, commonly referred to as a Bahamas IBC.

Key Benefits of Bahamas Offshore Company

  • Exemption from all local taxes and stamp duty
  • Maximum confidentiality and anonymity
  • Ease of operation, maintenance and control
  • Asset security
  • No disclosure or minimum capital requirements
  • The minimum number of shareholder is one
  • The minimum number of directors is one
  • Excellent and flexible post-incorporation follow-up services
  • No statutory requirement to hold annual general meetings
  • Highly competitive fees and costs

Legislation

Principal Corporate Legislation

The IBC Act 2000 and The IBC (Amendment) Act 2004 as amended.

Type of Law

Common.

Language of Legislation and Corporate Documents

English.

Type of Company for International Trade, Investment & Tax Planning

IBC – International Business Company.

Offshore Bahamas – Key Facts

Share Capital

Standard authorised share capital is US$50,000. Minimum paid up share capital is US$1.

Classes of Share Available

Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

Bearer Shares

Not permitted.

Restrictions on Trading

Cannot trade within the Bahamas or own real estate there. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Agent Required

Yes.

Registered Office Required

Yes, must be maintained in the Bahamas.

Directors

The minimum number of directors is one. Director can be of any nationality and need not be resident in the Bahamas. Corporate directors are permitted.

Shareholders

The minimum number of shareholders is one.

Publicly Accessible Records

No.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

Nil.

Double Taxation Treaty Access

None.

Requirements to File Accounts

None.

Requirement to File Annual Return

None.

Audit Requirements

None.

Currency

Bahamian Dollar (BSD), US Dollar.

Exchange Control

None.

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust” etc. will require justification.

Name of a Company

The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima”, “Gesellschaft mit beschrГ¤nkter Haftung”, “Corporation” or Ltd, Corp., Inc., S.A., GmbH must be part of the name of every IBC.

Time to Incorporate

One week.


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Bahamas Company Registration – International Packages


Packages

COMPARE PACKAGE FEATURES

Corporate Consultancy

Name Check

Initial Approval

Preparation of Application Documents

Drafting and Filing of M&A with the Registry

IBC Registration

Incorporation Service Fee

Registered Office Address for 1 Year

Registered Agent’s Service Fee for 1 Year

Certificate of Incorporation

First Minutes of the Director’s Meeting

Consent to Act as Director

Minutes of the Organizational Meeting of Incorporator

Memorandum of Association

Articles of Association

Apostilled Set for International Use (Certificate of Incorporation, M&A, Registers, First Minutes)

Register of Directors & Officers

Registers of Shareholders

Share Certificate

Resolution Issuing Share Certificate

Company Stamp

Daily Update Regarding The Full Process

Provision of a Corporate or Individual Director for 1 Year

Power of Attorney with Apostille

Resolution issuing Power of Attorney

Confidential Shareholder Service for 1 Year

Declaration of Trust


SILVER

USD 1490

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-

-

-

-

GOLD

USD 2090

PLATINUM

USD 2490


 
* Government Licence Fee USD 400 is not included (payable to the Registrar of Companies every year)

Need Help Choosing the Right Package?

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Why Choose Worldwide Incorporation Services?
  • We’ve been helping business owners since 1998
  • Incorporating your business is our focus
  • We make a complex process fast and easy
  • We work closely with Bahamas Registry to guarantee our service

Bahamas Ready-Made Companies

This is a list of ready-made and approved company names available as of today.


Bahamas Company Formation – Office Addresses

 

 


Interested in Bahamas Company Formation?


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How to proceed
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Tags: Bahamas Company Formation | Bahamas Offshore | Bahamas Offshore Company

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