Bahamas Company Formation

Bahamas Company Formation
  • Classical offshore jurisdiction, very highly regarded reputation
  • Time of Bahamas Company Formation takes 1 WEEK.
  • Personal presence not required
  • Popular company type:
    • Bahamas International Business Company (IBC)

Tax Rates in Bahamas

Corporation Tax in Bahamas: 0%

Income Tax in Bahamas: 0% 0

VAT Tax in Bahamas: 7,5%  the government will raise the tax to 12 percent

About Bahamas

Country: The Bahamas

Capital: Nassau

Continent: North America

Language: English

Currency: United States Dollar, Bahamian dollar

Time Zones: GMT -5

Dial Code: +1 242

Abbreviations: BS

What we can do for your Bahamian Company

  • We do all paperwork on forming the company in Bahamas
  • Formation is completely remote
  • Can act as Secretary or Treasury
  • Provide nominee Directors/Shareholders
  • Assist with opening a bank account
  • Registration for Taxes, VAT & EORI
  • Develop a website for your business
  • Create a logo of your brand
  • Provide with full company administration services
  • Arrange a mailing address for your business
  • Arrange a virtual office for your company
  • Telephone answering service
  • Book keeping, audit & reporting
  • Preparing and submitting VAT return
  • Dealing with local authority
  • Trademark registration

Bahamas Company Formation. Bahamas International Business Company / Bahamas (IBC)

Main Characteristics and the basic rules of Company registration in Bahamas.

Are you thinking of business expansion in offshore locations? In that case, taking your venture to Bahamas may be a prudent step. As one of the popular and wealthiest countries located in the Caribbean, Bahamas is the destination eyed by investors and entrepreneurs from various parts of the globe. The friendly residents, flourishing economy and business friendly investment policies should make it easier for you to take the next logical step and that is Bahamas Company Formation.

Even if you have not been to the Bahamas before, there is no reason to worry for taking your business operations to the country. The locals are generally friendly to strangers and this can be helpful even from the business operation perspective. The Bahamians are straightforward in communication but they also remain approachable and friendly overall.

If you want to expand your business to the Bahamas, there is good news. First, there is no direct personal income tax and secondly we are offering professional Bahamas Company Formation service. You need not worry about corporate income tax, inheritance tax, and capital gains tax. However, duty fee is applicable on imported stuffs and that varies according to kind of the product. For certain stuffs including books and computer software, there is no duty charge at all. The details on these taxes and charges can be sought at the National Insurance Board of the Bahamas.

You need to get approval from the Bahamas Investments Authority prior to starting business operations in country. It serves as the watchdog for foreign direct investment in the country. A Project Proposal submission is required for obtaining approval from the BIA. The good thing is the BIA allows a wide range of business to operate in the country. These include sectors like food processing, agriculture related products, banking, real estate development, assembly industries, tourism etc.  The qualifying investors may obtain certain legislative incentives from the Bahamian government.

The business investment laws and protocols in the country are ideal for offshore companies. You can opt for forming a domestic company or opt for the International Business Companies Act, 2000.

Despite the business investment friendly scene in the Bahamas, as an investor you will require expert insight and aid when it comes to Bahamas Company Formation service. The taxation is a tad different from what you are used to, as it is. To evade legal hassles and hurdles in setting up business in Bahamas, opt for services of the BRIs group. We will provide the expertise and manpower to ensure you can start business in Bahamas minus woes. Contact us soon for the details.

Bahamas Company Formation

Financial Advantages
Taxation:No taxes
Double Taxation Treaty Access:No Treaty Access. Bahamas has not yet signed any Double Tax Avoidance Treaties.
Bahamas Tax Information Exchange AgreementsYes, have been signed with many countries
Account Filing Requirements:No accounting or reporting requirements
Annual Return Filing Requirements:No annual return/ reporting requirements
Audit Requirements:No audit required.

Bahamas Company Formation

Registration Requirements
Share Capital:Standard authorised share capital: US$50,000.
Classes of Share Available for Bahamas company formation:Shares can be issued at a par or a non-par value.
Minimum paid up share capital:US$1 Classes of Share Available: Shares with or without voting rights, redeemable shares, registered shares, preference shares, shares of no par value
Bearer Shares:Not Allowed
Registered Office Required:Yes, required and must be maintained in Bahamas
Registered agent:A Bahamas IBC is required to have a registered office in the Bahamas.
Shareholders:Minimum number is one
Directors:Minimum number is one. There is no restriction on the nationality or residency of the directors of a Bahamas IBC. Local directors is not required. Corporate directors are allowed
Your Company language:English
Name of your Company must be ended:“Corporation”/ Corp., “Limited”/Ltd, “Incorporated”/Inc., Societe Anonyme”/S.A., “Gesellschaft mit beschrnkter Haftung”/GmbH, “Sociedad Anonima”
Documents required for Bahamas company formation:A certified copy of your passport or ID and proof of your residential address dated less than 3 months.

Bahamas Company Formation

For Bahamas company formation you cannot use words in your company names without justification:“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.
Restrictions on Trading:None
Not permitted without a licence:Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.

Bahamas Company Formation

Confidentiality and Security
Publicly Accessible Records:The details of registered shareholders are not available on public record. The details of directors are available on public record.
Possibility to use Nominee Shareholders and Nominee
Directors for Bahamas Company Formation:
Yes, allowed
Disclosure of Beneficial Ownership to Authorities:NO, The names or identities of beneficial owner do not appear in any public records
Meetings of Directors and Shareholders to be held:You can hold Meetings of Directors and Shareholders of Bahamas IBC anywhere
What is the stability to register Bahamas Company (IBC)Stable jurisdiction and very highly regarded reputation.

About Bahamas

Capital city:Nassau
Region:Located the Atlantic Ocean, southeast of Florida and the United States, north of Cuba, the island of Hispaniola and the Caribbean, and northwest of the British overseas territory of the Turks and Caicos Islands
Political System:Parliamentary Democracy
Government:Unitary parliamentary, Constitutional monarchy
Governing corporate legislation:International Business Act 2000 and the International Business Companies (Amendment) Act 2004.
Type of Law:Common
Type of company:International Business Company (IBC)
Currency:Bahamian Dollar (BSD)
Exchange Control:None
Language of Legislation and Corporate Documents:English
Time Zone:GMT-5.
  • Maximum confidentiality and anonymity
  • Highly competitive fees and costs
  • Exemption from all local taxes and stamp duty
  • Ease of operation, maintenance and control
  • Asset Protection
  • No minimum capital requirements
  • A Bahamas Company requires a minimum of one shareholder
  • A Bahamas Company requires a minimum of one director
  • No statutory requirement to hold annual general meetings

FAQ About Bahamas Company Registration

To register a company in Bahamas:

  • You have to chose Bahamian Company Name.
  • For the formation you will need to provide name of Shareholders, Directors and Officers.
  • Approve Authorised Capital.
  • For KYC deligence you must provide certified copy of passport, copy of utility bill

Bahamas IBC is International Business Company (offshore company in Bahamas)

IBC is a company registered to operate a business outside of the Bahamas.

It also can hold an offshore bank account of private investments.

Yes, according to the law of Bahamas IBC all companies must have a registered agency in Bahamas.

The cost of incorporating in Bahamas includes company formation and government fee, registered agent fee, registered office fee and courier delivery of an incorporated company documents fee.

There is no Bahamas company registry search exist, if you want to check availability of the company name you can order it from registered agency in Bahamas.

There are no public records. According to act of 1990 the Bahamas‘ International Business Companies (IBC)  protects the privacy of directors, shareholders and beneficial owner.

Main advantages for IBC Bahamas is a tax optimisation:

  • no income tax,
  • no estate tax,
  • no inheritance or capital gains tax,
  • no restrictions on the repatriation of funds
  • no forced heirship laws for domiciled assets

Determine which type of bank you need to use.

There 100 financial institution and banks in Bahamas. We have included below Bahamas banks list with links to their website, so you can find the requirements of each bank how to open a business bank account with them.

List of commercial banks in the Bahamas:

Ansbacher (Bahamas) Ltd
Citco Bank and Trust Company (Bahamas) Ltd
Corner Bank (Overseas) Limited
Credit Suisse (Bahamas) Ltd
Guaranty Trust Bank Limited
Hottinger Bank & Trust Limited
Lombard Odier Darier Hentsch Private Bank & Trust Ltd
The Private Trust Corporation Limited
UBS (Bahamas) Ltd 

Yes, A trust can be established in the Bahamas specifically as an asset protection trust.

The trust must be governed by the laws of the Bahamas (Choice of Governing Law) The Trustee Act .

The Trustee Act was enacted into law with effect from July, 27 1998

The International Business Companies Act, 2000, (Amendment) Act 2004, (Amendment) Act 2008, (Amendment) Act 2010

This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.

BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.

Our team of consultants are here to take you through the process.