Bahamas IBC Offshore Company Information
| Key Company Features | |
| Type of entity | IBC |
| Type of law | Common |
| Shelf company availability | Yes |
| Our time to establish a new company | 10 days |
| Minimum government fees excluding taxation | US$350 |
| Corporate taxation | Nil |
| Double taxation treaty access | No |
| Share capital or equivalent | |
| Standard currency | US$ |
| Permitted currencies | Any |
| Minimum paid up | US$1 |
| Usual authorised | US$50,000 |
| Directors or Managers | |
| Minimum number | One |
| Local required | No |
| Publicly accessible records | Yes |
| Location of meetings | Anywhere |
| Members | |
| Minimum number | One |
| Publicly accessible records | No |
| Location of meetings | Anywhere |
| Company Secretary | |
| Required | No |
| Local or qualified | No |
| Accounts | |
| Requirement to prepare | Yes |
| Audit requirements | No |
| Requirement to file accounts | No |
| Publicly accessible accounts | No |
| Other | |
| Requirement to file annual return | No |
| Change in domicile permitted | Yes |
Setup And Maintenance Costs
Incorporation (Setup) Costs - US$1,500
The fee is all inclusive, no hidden costs.Annual Maintenance Costs - US$1,000
The fee is payable after the first year and covers annual taxes, registered agent and nominees. No hidden costs.Our company kits are always delivered with the same documents and may vary slightly from jurisdiction to jurisdiction. All our companies come in a deluxe corporate "attache kit", which is all inclusive and ready for use document kit.
Our corporate kits are delivered with the following documents:
- Certificate of Incorporation (Notarized and legalized by Apostille)
- Memorandum & Articles of Association (Notarized and legalized by Apostille)
- Appointment of First Directors / Nominee Directors (if applicable)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney (Notarized and legalized by Apostille)
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested
- Corporate seal
Company Information
Type of Company for International Trade and Investment
International Business Company (IBC).Procedure to Incorporate
Registered Agent prepares the Memorandum of Association, which after being signed by the two subscribers is delivered to the Registry. The Articles of Association can either be filed at the same time as the Memorandum of Association or within 30 days from the date of incorporation.Restrictions on Trading
Cannot trade within the Bahamas or own real estate there. Unless government permission is granted, cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, ollective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries. Cannot sell its own shares or solicit funds from the Public.Powers of Company
An International Business Company has all the powers of a natural person.Language of Legislation and Corporate Documents
The legislation and corporate documentation are in English.Registered Office Required
Yes, must be maintained in the Bahamas at the address of a licensed management company or law firm.Shelf Companies Available
Yes.Time to Incorporate
Two days, but a further five working days is required by the Registrar for the production and release of the Certificate of Incorporation and certified copy of the Memorandum and Articles of Association.Name Restrictions
Any name that has already been incorporated, or a name that is so similar as to cause confusion. Names such as royal or imperial. Any name which, in the opinion of the Registrar, is considered undesirable, obscene or offensive, or any name, which suggests the patronage of the Bahamas Government.Language of Name
The name can be in any language using the Latin alphabet. The Registrar may require an English translation to ensure that the proposed name is not on the list of restricted names.Names Requiring Consent or Licence
Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents or any name in English or a foreign language that may suggest association with the banking or insurance industries.Suffixes to Denote Limited Liability
Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anónima, Gesellschaft mit beschränkter Haftung or the relevant abbreviations.Disclosure of Beneficial Ownership to Government Authorities
No.Compliance
Authorised and Issued Share Capital
The normal authorised share capital is US$50,000; divided in to 50,000 shares of US$1, this being the maximum capital for the minimum duty payable at the time of incorporation and the maximum authorised share capital for the minimum licence fee payable annually. 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.Classes of Shares Permitted
Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.Taxation
The Bahamas is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax.Double Taxation Agreements
The Bahamas is not a party to any double tax treaties.Licence Fees
Companies with an authorised share capital, with a par value, up to US$50,000 pay the sum of US$350 per year.Companies with share capitals more than US$50,001 pay the sum of US$1,000 per year.
Financial Statement Requirements
Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a companyDirectors
The minimum number of directors is one. Directors may be natural persons or bodies corporate. They may be of any nationality and need not be resident in the Bahamas.Company Secretary
The Act makes no specific reference to a company secretary, but one is normally appointed to facilitate signing obligations.Shareholders
Minimum number of shareholders: two subscribers, but the shares can be transferred to a single person.General Information
The Bahamas extends in a 1,225 km arc from 78 km east of Palm Beach, Florida, to just north of Haiti. The Bahamas consists of an archipelago of nearly 700 islands and 2,000 cays.
