Company registration in Bahamas

Bahamas is an independent country in the Eastern Caribbean. It is a politically stable, safe and private jurisdiction for incorporating offshore companies. As a former British colony, Bahamas's legal system embodies the principle of English statutory and common law, making it particularly attractive jurisdiction for certain transactions not easily structured under civil law systems.

The incorporation of companies in Bahamas is regulated by the International Business Corporations Act, passed in 1982. The Act prohibits the disclosure of information imparted under conditions of business or professional confidence. The Act applies to banks and professionals (including attorneys, accountants, government officers, secretaries, etc.) and includes all commercial transactions arising in Bahamas and continues to apply whether in Bahamas or abroad.

An International Business Companyis formed by two incorporators who are citizens and residents of Bahamas, at least one of whom must be an attorney. Companies in Bahamas are formed under the Companies Act by submitting Articles of Incorporation, Notices of Directors and Registered Address and Request for Name to the Registrar of Companies. The company exists on the date the Registrar issues the Certificate of Incorporation. The Memorandum states the activities the company will carry out and the Articles of Association states the rules governing the internal management of the company.

Advantages of Bahamas Offshore Companies

• Tax exemption for fifty years on income, dividends, interest and royalties paid by and to foreigners.
• No exchange controls.
• Unrestricted operation of bank accounts.
• No capital gains or estate taxes.
• Auditing is not required.
• No minimum capital requirements.
• Shares may be issued with or without par value.
• Bearer shares are permitted.
• A sole shareholder is permitted.
• A sole director is permitted and directors need not be natural persons.
• No citizenship or residency requirements for directors, officers or shareholders.
• Meetings need not be held in Bahamas.
• Shareholders may vote by proxy.
• Filing of audited statements or corporate reports with the government is not required.
• Company records and the operating office may be located anywhere.