Saturday, 19 August, 2017
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The Bahamas
  • The Bahamas are a classical offshore jurisdiction in the Caribbean Sea located off the US Eastern coast and situated close to the State of Florida.
  • The Bahamas are an archipelago consisting of about 700 islands. The jurisdiction has a well developed infrastructure and communications. The main budget revenues are derived from the finance sector and tourism.
  • Until 1973, the Bahamas were a British crown colony, and then they achieved independence.
  • The political and legislative system of the Bahamas is based on the English model.
  • The official head of the jurisdiction is The Queen of the United Kingdom who is represented by a governor-general.
  • The head of government is the prime minister who is elected from the party with the most seats in the Senate.

GENERAL INFORMATIONTotal area - 13,878 sq km
Population - 350,000
Location - click here to see the map of offshore jurisdictions
Political status - parliamentary monarchy
Capital - Nassau
Official language - English
Official currency - Bahamian Dollar (BSD)
Time zone - GMT - 5
Company typeInternational Business Company (IBC)
Directors/OfficersBahamas IBC companies require a minimum of 1 Director, who may be a natural person or a corporate body from any legal jurisdiction.
Each Bahamas IBC company must file a Register of its Directors with the Register of Enterprises of the Bahamas.
ShareholdersBahamas IBC companies require a minimum of 1 shareholder, who may be a natural person or a corporate body from any legal jurisdiction.
Each Bahamas IBC company must file a Register of its shareholder/s with the Register of Enterprises of the Bahamas.
SecretaryThere is no statutory requirement for a Company Secretary to be appointed.
Authorised share capital Standard authorised capital = USD 50,000.
There is no statutory requirement for capital to be fully or partly paid on incorporation.
Company Names The name of a Bahamas IBC company must end with the words "Incorporated", "Corporation", "Limited", or suffixes such as "Inc.", "Corp.", "Ltd.", "GmbH", "S.A", etc.
Company names containing restricted words such as "Bank", "Insurance", "Trust", etc. will not be permitted unless an appropriate national operating licence has been obtained by the company.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the company and is held by the agent on a confidential basis.
Filing of Annual ReturnThere is no requirement to file an Annual Return.
Filing of Financial StatementsThere is no requirement to file Financial Statements in the Bahamas for IBC companies.
Corporate TaxationBahamas IBC companies are not subject to corporation tax in the Bahamas.
Tax TreatiesThe Bahamas have not entered into any Double Tax treaties with other countries.
Timeframe for incorporation 6/7 working days. A complete set of company documents can be delivered in 5/6 weeks.
Takeover of management & secretarial services for an existing Bahamas IBC companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in Bahamas.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesWe are happy to register new Bahamas companies in accordance with client instructions.
Price of Bahamas IBC companyEUR 2,140, including incorporation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalised by Apostille, including General Power of Attorney.
Cost of annual support servicesEUR 1,070 per year, including annual Government Duty, full domiciliary (Registered Agent/Office) costs, General Power of Attorney for current year.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments: -
  • The Bahamas is a classical tax-free jurisdiction which does not require complicated procedures for company maintenance or annual reporting.
  • The jurisdiction has high due diligence requirements in respect of disclosing information about the company owner. The Bahamas was one of the first jurisdictions that began to apply Know Your Client standards. The requirements to provide a full set of Due Diligence on the company owners were implemented in the Bahamas in 2000.
  • However, a Bahamas company will serve its owner who supplies the required information in accordance with the current standards of local legislation in a similar manner to any other classical offshore company.
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