• Bahamas IBC

  • GENERAL

    Legal Framework

    The Bahamas IBC is governed by the International Business Act 2000 and the International Business Companies (Amendment) Act 2004.

  • SHAREHOLDERS

    Liability of Shareholders

    The liability of the shareholders of a Bahamas IBC is limited up to the unpaid amount of the shares they hold.

    Minimum Number of Shareholders

    The minimum number of shareholders of a Bahamas IBC is 1 and the maximum is unlimited.

    Restriction on Nationality/Residency of Shareholders

    There is no restriction on the nationality or residency of the shareholders of a Bahamas IBC.

    Corporate Shareholders

    The shareholders of a Bahamas IBC can be individuals and/or legal persons.

    Nominee Shareholders

    The use of nominee shareholders is allowed.

  • DIRECTORS

    Minimum Number of Directors

    The minimum number of directors of a Bahamas IBC is 1.

    Restriction on Nationality/Residency of Directors

    There is no restriction on the nationality or residency of the directors of a Bahamas IBC. Local directors is not a requirement.

    Corporate Directors

    The directors of a Bahamas IBC can be both individuals and corporate bodies.

  • SHAREHOLDER MEETINGS

    Shareholder Meetings

    There is no requirement for a Bahamas IBC to hold annual general meetings.

    Should it be deemed necessary by the shareholders of a Bahamas IBC to hold an annual general meeting then it can be held anywhere in the world.

    In addition, shareholders can vote by a proxy or by telephone.

  • CAPITAL

    Minimum Capital Requirement

    The minimum capital requirement for a Bahamas IBC is B$1.

    Currency of Capital

    The share capital can be denominated in any currency.

    Non-par Value and Bearer Shares

    Shares can be issued at a par or a non-par value.

    Bearer shares are not allowed.

    Stamp Duty

    The Bahamas IBC is exempt from stamp duty on authorized share capital.

  • REGISTERED OFFICE

    Registered Office

    A Bahamas IBC is required to have a registered office in the Bahamas.

    Company Secretary / Registered Agent

    A Bahamas IBC is required to appoint a local licensed registered agent.

  • FOREIGN INVESTORS

    Restrictions on Foreign Investors

    There are no restrictions on foreign investors investing in a Bahamas IBC.

  • FORMATION

    Time Needed for Incorporation

    It usually takes between 2 - 5 business days to register a Bahamas IBC.

    Shelf companies are available.

  • CONFIDENTIALITY

    Beneficial Owners

    The details of the beneficial owner are disclosed only to the service provider.

    Registered Shareholders

    The details of registered shareholders are not available on public record.

    Directors

    The details of directors are available on public record.

    Financial Statements

    The financial statements are not publicly accessible.

  • FILING REGUIREMENTS

    Filing with the Registrar of Companies

    There is no requirement for a Bahamas IBC to submit an annual return.

    Filing with the Tax Authorities

    There is no requirement for a Bahamas IBC to submit an annual tax return.

  • RECORDS

    Accounting Records

    A Bahamas IBC needs to maintain accounting records. These accounting records may be maintained in any currency and may be held anywhere in the world.

    Financial Statements

    A Bahamas IBC is required to prepare financial statements under IFRS. These need not be filed with the Registrar of Companies.

    In accordance with IFRS, holding companies are required to prepare consolidated audited financial statements on an annual basis. However, consolidation is not required if the company is an intermediary holding company and a holding company further up the structure prepares consolidated financial statements under approved accounting standards.

  • AUDIT

    Audit Requirement

    A Bahamas IBC is not required to have its accounts audited.

Compare Bahamas to other jurisdictions and see the difference in corporation tax rates, tax residency requirements, VAT rates, capital gain taxes, etc.

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