Bahamas Company Formation
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The Commonwealth of The Bahamas is a group of around 700 islands in the
Atlantic Ocean off the East Coast of Florida. Gaining independence from Great
Britain in 1973, The Bahamas have been an Offshore Centre since 1989 having
introduced the International Business Companies Act of that year.
Strict Anti-Money Laundering Regulations are now in place. The practical
effect of this will be the international acceptance of The Bahamas as an
offshore centre to be trusted for worldwide commerce following the recent
blacklisting of many similar jurisdictions by the OECD.
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Fees for Registering and Maintaining Companies
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Purchase & First Year’s Maintenance
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Second & Subsequent Years’ Maintenance
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Formation / Provision of Company
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£650.00
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£350.00
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Company Secretarial Maintenance / Statutory Compliance
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£500.00
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£500.00
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Annual Return
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N/A
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N/A
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Annual Government Duties/Filing Requirements
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£220.00
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£220.00
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NET Total
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£1,370.00
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£1,070.00
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VAT (if applicable to invoice)
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£201.25
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£148.75
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GROSS Total if VAT Applicable
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£1,571.25
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£1,218.75
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Optional Extras
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Nominee Director / Shareholder per annum
[NB, one nominee may act in both capacities for one
Beneficial Owner, and only one Nominee is used for each such Beneficial
Owner. Check Data Sheet for Minimum No. of Officers/Members]
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£500.00
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£500.00
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Certificate of Good Standing
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POA
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Government Certified Copy Memorandum & Articles
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POA
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[NB. Value Added
Tax is applicable to all items, except Government Duties, subject to rules on
VAT local to the person/firm/company A1 Company Services Limited raises its
invoices to]
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Information on Corporate Vehicles
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Statutes
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The Companies
Act, 1992; the International Business Companies Act, 2000; and The
International Business Companies Act (Amendment) Act 2001
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Types of Company
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International
Business Company (IBC)
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Time to Incorporate
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24 Hours.
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Info required prior to Incorporation
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None Required.
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Off the Shelf Companies
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Available.
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Company Name
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Must end in an
appropriate suffix: Altd@, Acorp@, Ainc@, ASA@, etc.
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Members
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Minimum of One.
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Directors & Secretary
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Minimum of One
Director; No Secretary Required by Law; Corporates Permitted; No Residency
Requirements.
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Share Capital
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Usual of
US$50,000
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Bearer Shares
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Not Permitted.
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Registered Office / Agent
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Locally Licensed
Trust Company Required.
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Papers to be kept at Registered Office
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Registers of
Members & Officers; Copy Resolutions; Seal.
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Public Information
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Company Name;
Agent; Share Capital; Memorandum & Articles and Incorporator.
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Corporate Books & Seal
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Normally
Retained at Registered Office.
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Meetings
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No Restrictions.
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Annual Return
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Not Required.
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Annual Accounts
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Not Required.
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Audit Requirements
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None.
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Exchange Controls
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Only when
business is carried on with a Bahamas Resident or if a Bahamas Resident
wishes to purchase shares in the Company.
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Government Duties
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US$350.00 for
Share Capital up to US$50,000.
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Taxation
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None.
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Double Tax Treaties
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None.
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Migration / Re-domiciliation
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Permitted In
& Out of The Bahamas.
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Advantages of Jurisdiction
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No Tax
Liability; No Accounts To Be Filed; One Shareholder Minimum.
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Disadvantages of Jurisdiction
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Public Register
of Directors; Close Ties with U.S. Government.
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