The Bahamas is an independent British Crown Colony with strong British traditions. It is located off the east coast of southern Florida consisting of about 700 islands in the Bahamas chain where only thirty are actually inhabited.
The main source of income for offshore Bahamas comes from customs duties and fees paid during the registration process and entrepreneurship. Apart from that up to 50% of the gross national income of the country is brought by its highly developed tourist industry.
Why register a company in the offshore Bahamas?
Bahamas is the biggest offshore centre in the world. In fact this is an offshore jurisdiction with the highest number of offshore transactions. There are no taxes on personal or corporate income, gifts, inheritance, increase in capital gains, dividends. Specifically, the offshore Bahamas has a concentrated offshore banking business. In the Bahamas there are more than 350 banks, including most of the major banks in the world. Of the four hundred banks and trust companies – all without exception have offices and staff in the state to offer and perform various banking services to offshore trusts and companies
Business and communication structures are well developed, allowing the islands to remain an international financial center with an advanced electronic commerce.
Types of companies and regulation in the offshore Bahamas
Offshore business is licensed under the Business Licenses Act 1980, and the company must register the names according to the Registration of Business Names Act 1989.
There are such types of companies that can be registered in the offshore Bahamas:
– BAHAMAS DOMESTIC LIMITED COMPANY
– BAHAMAS COMPANY LIMITED BY GUARANTEE
– BAHAMAS PUBLIC COMPANY
– BAHAMAS INTERNATIONAL BUSINESS COMPANY
– BAHAMAS LIMITED DURATION COMPANY
– BAHAMAS FOREIGN COMPANY
– BAHAMAS LIMITED PARTNERSHIP
– BAHAMAS EXEMPT LIMITED PARTNERSHIP
– BAHAMAS TRUSTS
– BAHAMAS FOUNDATIONS
– BAHAMAS SEGREGATED ACCOUNT COMPANY
The most popular type of company for tax optimisation purposes is the International Business Company with a limited liability status.
If you would like to register a company in offshore Bahamas BRIS-GROUP will be happy to provide you with the best solution: fast, professional and at an unbeatable price!