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Setup
and Maintenance Costs
Incorporation (Setup)
Costs - US$1,400
The fee is all
inclusive, no hidden costs.
Annual Maintenance
Costs -
US$1,000
The fee is payable
after the first year and covers annual taxes, registered
agent and nominees. No hidden costs.
Our company kits are
always delivered with the same documents and may
vary slightly from jurisdiction to jurisdiction.
All our companies come in a deluxe corporate "attache
kit", which is all inclusive and ready for use
document kit.
Our corporate kits are
delivered with the following documents:-
- Articles of Incorporation in English (Notarized
and legalized by Apostille)
- Appointment of First Directors / Nominee Directors
(if applicable)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney (in English and Spanish Notarized
and legalized by Apostille)
- Certificate of Incorporation
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested
- Corporate seal
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Company
Information
Type of Company for
International Trade and Investment
International Business Company (IBC).
Procedure to Incorporate
Registered Agent prepares the Memorandum of Association,
which after being signed by the two subscribers
is delivered to the Registry. The Articles of
Association can either be filed at the same time
as the Memorandum of Association or within 30
days from the date of incorporation.
Restrictions on Trading
Cannot trade within the Bahamas or own real estate
there. Unless government permission is granted,
cannot undertake the business of banking, insurance,
assurance, reinsurance, fund management, ollective
investment schemes, trust management, trusteeship,
the rendering of investment advice or any other
activity that would suggest an association with
the banking or insurance industries. Cannot sell
its own shares or solicit funds from the Public.
Powers of Company
An International Business Company has all the powers
of a natural person.
Language of Legislation
and Corporate Documents
The legislation and corporate documentation are in
English.
Registered Office
Required
Yes, must be maintained in the Bahamas at the address
of a licensed management company or law firm.
Shelf Companies Available
Yes.
Time to Incorporate
Two days, but a further five working days is required
by the Registrar for the production and release
of the Certificate of Incorporation and certified
copy of the Memorandum and Articles of Association.
Name Restrictions
Any name that has already been incorporated, or a
name that is so similar as to cause confusion.
Names such as royal or imperial. Any name which,
in the opinion of the Registrar, is considered
undesirable, obscene or offensive, or any name,
which suggests the patronage of the Bahamas Government.
Language of Name
The name can be in any language using the Latin alphabet.
The Registrar may require an English translation
to ensure that the proposed name is not on the
list of restricted names.
Names Requiring Consent
or Licence
Bank, building society, savings, loans, insurance,
assurance, reinsurance, fund management, investment
fund, trust, trustees, Chamber of Commerce, university,
municipal or their foreign language equivalents or
any name in English or a foreign language that may
suggest association with the banking or insurance
industries.
Suffixes to Denote
Limited Liability
Limited, Corporation, Incorporated, Société Anonyme,
Sociedad Anónima, Gesellschaft mit beschränkter
Haftung or the relevant abbreviations.
Disclosure of Beneficial
Ownership to Government Authorities
No.
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Compliance
Authorised and Issued
Share Capital
The normal authorised share capital is US$50,000; divided in to 50,000 shares
of US$1, this being the maximum capital for the minimum duty payable at the time
of incorporation and the maximum authorised share capital for the minimum licence
fee payable annually. The share capital may be expressed in any currency. The
minimum issued capital is either two shares of no par value or two shares of
par value.
Classes of Shares
Permitted
Registered shares, shares of no par value, preference
shares, redeemable shares and shares with or without
voting rights.
Taxation
The Bahamas is a pure tax haven and has no direct
taxation in the form of income tax, capital gains
tax, gift tax or inheritance tax.
Double Taxation Agreements
The Bahamas is not a party to any double tax treaties.
Licence Fees
Companies with an authorised share capital, with
a par value, up to US$50,000 pay the sum of US$350
per year.
Companies with share capitals more than US$50,001
pay the sum of US$1,000 per year.
Financial Statement
Requirements
Whilst there is no requirement to file audited accounts
with the authorities, a company is required to keep
financial records, which reflect the financial position
of a company
Directors
The minimum number of directors is one. Directors
may be natural persons or bodies corporate. They
may be of any nationality and need not be resident
in the Bahamas.
Company Secretary
The Act makes no specific reference to a company
secretary, but one is normally appointed to facilitate
signing obligations.
Shareholders
Minimum number of shareholders: two subscribers,
but the shares can be transferred to a single
person.
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General
Information
The Bahamas extends
in a 1,225 km arc from 78 km east of Palm Beach,
Florida, to just north of Haiti. The Bahamas consists
of an archipelago of nearly 700 islands and 2,000
cays.
Population
The population of the Bahamas is approximately 340,000.
Political Structure
In July 1973, the Bahamas become an independent country
within the British Commonwealth. A Governor General
appointed by the British Government is responsible
for defence, external affairs and internal security.
However, the real head of the Government is an
elected Prime Minister who consults with a Cabinet
of sixteen, twelve Cabinet Ministers and four
Ministers of State chosen from the Legislature.
There are four political parties, the dominant
Progressive Liberal Party, Free National Movement
Party, and Labour Party. The bicameral legislature
has a 49 member House of Assembly and a 16 member
Senate.
Infrastructure and
Economy
The Bahamas has excellent communications. There are
direct flights from Europe as well as many US cities.
Miami is only 30 minutes away by jet aircraft and
New York is less than three hours away.
Language
The official and spoken language is English.
Currency
Bahamas Dollar is on a par with the US
Dollar.
Exchange
Control
Residents are subject to Exchange Control,
but International Business Companies are
exempted.
Type of
Law
Statute Law and Common Law based on English
Common Law.
Principal
Corporate Legislation
International Business Companies Act 2000,
as amended.
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