The Bahamas is a popular offshore jurisdiction because of its political-economic stability, privacy and tax benefits from which offshore companies benefit. Incorporating an IBC in the Bahamas provides extensive confidentiality for the beneficial owners and shareholders enjoy exemption from a large number of taxes and duties including income tax, capital gains tax and corporation tax.
Company Name
Company names may be in any language that uses the Latin alphabet and must end with the suffix ltd, Corp, GmbH or similar. All company names are subject to approval and once approved may be reserved for 10 days. Certain words, such as those suggesting governmental or country patronage, are restricted.
Registered Office
All companies must have a registered office. The office must be a physical address in the Bahamas where all official company correspondence may be served. We are able to provide a registered address alongside our incorporation package.
Directors
An IBC in the Bahamas requires only one director and there are no restrictions on the director’s nationality or residency. Director registers are not available to the public.
Shareholders
Only one shareholder is required and this may also be the company director. The shareholder may be an individual or a corporate entity and there are no restrictions on nationality or residency. If the beneficial owners wish to remain anonymous then nominee shareholders are permitted.
Share Capital
The minimum capital is two shares of par or no par value. Duty is paid on the amount of share capital and the maximum capital, paying the minimum duty, is USD$50,000. If you invest a higher capital then a higher annual share duty fee is payable.
File Requirements
There are no requirements to produce or file financial statements, accounts, tax returns or annual returns.
Timescale
Once all of the incorporation information has been received it takes only three days to fully incorporate an IBC in the Bahamas.
Fees
IBC Company Formation Bahamas – £2125
Company Administration & Registered Office – £800
Proof of Identity
As part of our due diligence we require proof of identity in the form of a passport copy for all directors and shareholders of the company.
Travel
There is no requirement to visit the Bahamas in order to incorporate an IBC.
