The Bahamas is a chain of islands comprising 5,358 square miles, located 40 to 50 miles east of Florida, has a population of 300,000. Most Bahamians live in two large urban centers: Nassau (its capital) and Freeport.

The Bahamas is a member of the British Commonwealth, but maintains full independence in governmental affairs (Government of the Bahamas). It is well served by long-established international accountants, international banks and law firms, and advanced telecommunications service.

Besides tourism, the banking and financial sector is the second most important aspect of the economy of the Bahamas. The Bahamas is one of the largest offshore financial centers in the hemisphere with more than 400 banks, trust companies and other chartered financial institutions. It is known for its tax haven status and bank secrecy. Since the International Business Companies Act of 1989 came into effect in 1990, The Bahamas has become one of the most popular areas to register an IBC (Bahamas Banks and Trust Companies).

Advantages of Bahamas Offshore Companies (IBC)

The IBC: International Business Companies Act established a corporate entity, which requires a minimum of administration. Total secrecy and anonymity are maintained, and there is no need to disclose the beneficial owners of the Company. There is no requirement to file annual returns or financial statements, or to hold annual general meetings of shareholders or directors. Shareholders’ and/or directors’ assemblies can be held in any country and they can attend the assemblies by proxy or by electronic means (telephone, fax, etc.).

proposed names

The word “Limited” may be used in the name of a Company. However, the use of the following words is restricted: “Guarantee”, “Bank”, “Construction Company”, “Chamber of Commerce”, “Collegiate”, “Cooperative”, “Imperial”, “Insurance”, “Municipal” , “Royal”, “Trust” or any word conveying a similar meaning. Terminations such as “Limited”, “Incorporated”, “Société Anonyme”, or “Sociedad Anónima” or their abbreviations may be used.

shelving companies

There are a number of existing offshore companies for sale. These offshore companies have never negotiated or participated in any transaction of any kind.

Capital

The standard capital is $50,000.00 USD, divided into 50,000 shares of $1.00 USD each, which may be issued to Bearer or as Registered shares, at the discretion of the Directors. Capital up to the equivalent of $50,000.00 USD attracts the lowest license fee: $250.00 USD.

The Board of Directors can be held anywhere in the world. There are no limitations as to the number or nationality of the shareholders.

share

Bearer shares, registered, at par or without par value, as desired.

Shareholders Meetings

Shareholders’ meetings can be held anywhere in the world. The format will depend on what is established in the Corporate Bylaws.

Registered Agent/Registered Office

The IBC Act requires each offshore company (IBC) to have a Registered Office and a Registered Agent, qualified to act as such, in The Bahamas. In our standard Memorandum of Association, our own office is the Registered Office and we act as the Registered Agent of the IBC in The Bahamas.

Taxes

IBC income is exempt from income tax in the Bahamas. This includes all dividends, interest, rents, royalties, compensation, capital gains realized with respect to stocks, debt obligations or other securities, and any other amounts paid to the company. In addition to this, no probate, estate, or gift tax, fee, duty, levy, or other charge is payable in respect of the shares, debt obligations, or other securities of a company incorporated under the IBC Act.

prohibitions

An IBC, being an offshore company, is a company that cannot:

• Conducting business with residents of The Bahamas;
• Owning an interest in real property located in the Bahamas or a lease of real property other than a lease of property for use as an office from which to communicate with members or where the company’s books and records are prepared or maintained;
• Carry out banking and/or fiduciary business;
• Carry on business as an insurance or reinsurance company; gold
• Carry out the business of providing the registered office for companies