Bahamas is located in an archipelago of approximately 700 islands and cays located in the Atlantic Ocean 80 kilometers east of the Peninsula of Florida. There is an estimated population of 340,000. The official language is English and its currency is the Bahamian Dollar and the US dollars that are used interchangeably throughout the island chain. The primary industries are the commercial and financial activities who offer a highly skilled workforce. The Bahamas is an independent country and continues to remain an active member of the British Commonwealth of Nations. The Bahamas has a Parliamentary type democracy. The legal system is based on the English common law, complemented by Bahamian statutes.
Highlights of Bahamas Companies:
• No restriction of free repatriation of profits
• Confidentiality on directors and shareholders information
• Based on English Law
• Well developed professional infrastructure
• British dependent territory
• Neutral tax jurisdiction
• Regulated financial services industry
GENERAL
Location of Jurisdiction: Bahamas – Caribbean
Official Language: English
Political Stability: Excellent
EU Savings Tax Directive Applies: No
Corporate Taxes: None
Tax Information Exchange Agreements: Yes
Disclosure of Beneficial Owner: No
Requirement to File Audited Accounts with Government: No
Time to Incorporate: 2 to 3 Business Days
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CORPORATE
Type of Company: International Business Company (IBC)
Type of Law: Common Law for Corporate Matters
Registered Office/Agent: Required by Law
Change of Domicile: Allowed
Shelf Companies Available: Yes
Language of Documents: English
Corporate Seal: Manadatory
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DIRECTORS
Eligibility: Any person or company of any nationality.
Minimum Number of Directors: One. May be a person or a company.
Disclosure to Authorities: Yes, but nominees can be used
Residence Required: May Reside Anywhere
Local Director Required: No
Nominee Director Available: Yes
Location of Meetings: Anywhere
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COMPANY OFFICERS & SECRETARY
Officers Required: Optional
Secretary Required: Optional
Local Secretary Required: No
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SHAREHOLDERS
Minimum Number of Shareholders: One
Eligibility: Any person or company of any nationality.
Disclosure to Authorities & Public: No
Nominee Shareholders Available: Yes.
Annual Shareholders Meeting: Not Required
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SHARES
Minimum Number of Shares: One
Maximum Number of Shares: Unlimited
Bearer Shares Permitted: No
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SHARE CAPITAL
Permitted Currencies: Any. Usually US$
Minimum Paid Up Share Capital: None
Maximum Share Capital: Additional fees apply to share capital over US $50,000
Recommended Share Capital: US $50,000 (divided into 50,000 shares @ US $1.00 each)
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ACCOUNTS
Keep Accounts/Company Books: Yes
Audited Accounts Required: No
File Accounts with Government: No
File Annual Return: No
Bank Account Location: Anywhere
Exchange Controls: No