BAHAMAS OFFSHORE COMPANIES
Bahamas is known as one of the leading offshore business and financial centers in the world. It has become a popular jurisdiction for investors who choose Bahamas for its financial privacy laws and wide range of services that offer tremendous economic benefits.
The legislation regulating the incorporation and management of International Business Companies in Bahamas is the International Business Companies Act 1989, updated by the International Business Companies (Amendment) Act 1994, the International Business Companies Act 2001 and the International Business Companies (Amendment) Act 2004.
Requirements to Register Bahamas Offshore Companies
- The Memorandum and Articles of Association must be filed with the Registrar General.
- A minimum of two shareholders are required. The shareholders may be natural persons or corporate entities. All shares should be registered. Information about the shareholders is stated in the public record.
- The authorized share capital is $5,000. Shares must be registered and may be issued in any currency. Bearer shares are not permitted. A share register must be kept at the company´s registered office.
- At least one director is required. The director may be a natural person or corporate entity. Directors can be of any nationality or residence. The names of directors and officers are not disclosed. Changes in directors or officers need not be registered or reported.
- A registered agent and a registered office in Bahamas are required.
- Financial records stating the company´s financial position are required.
- Director and shareholder meetings need not be held in Bahamas. Directors and shareholders may vote by proxy. Company registers and minutes of meetings must be kept at the registered office.
Advantages of Bahamas Offshore Companies
- Anonymity
- No corporate income tax
- No personal income tax
- Non-disclosure of information
- Shareholders are not made public
- No tax on corporate shares
- Low annual fees
- Bahamas bank account opening service is available
- Exemption of taxes and exchange controls for 20 years as of date of company incorporation
