In 2016 The Bahamas introduced new record-keeping rules for International Business Companies (IBCs). Under these requirements an authorized signatory of each IBC must submit a written Declaration to its Bahamas Registered Agent confirming that reliable accounting records are being kept and that they will be made available to the registered agent upon request. Beginning this year, a new deadline requires that these documents must be filed with the Security Commission of The Bahamas, with receipt of filing confirmed by the registered agent, by September 30. This will be the new yearly deadline going forward. The deadline was previously December 21.
It is important to understand that, under the new rules, registered agents will be required to resign from any companies that do not meet the deadline. IBCs not meeting the deadline will, after September 30, fall out of Good Standing.
Let IBCF handle these changes and streamline the process. If you have any questions about your Bahamas IBC Accounting Declarations or Bahamas Registered Agent, call one of our corporate specialists at +1 845 398 0900 and we’ll take care of it for you.Back to Articles
The information provided in this article is for general information purposes only. The information is not intended to be comprehensive or to include advice on which you may rely. You should always consult a suitably qualified professional on any specific matter.
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