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THE BAHAMAS
INTERNATIONAL BUSINESS CORPORATIONS (IBC)
 

SOCIAL AND ECONOMIC INDICATORS

» LOCATION

40 - 60 miles East of Florida (U.S.A.)

» SURFACE AREA

700 islands, which comprise 5,358 square miles. The majority of Bahamians live in the largest two urban centers: Nassau and Freeport

» POPULATION

340,000 inhabitants

» CLIMATE

Tropical

RELEVANT ELEMENTS OF THE COUNTRY

» Excellent corporations law

» Flexible corporations law.

» There are no taxes on international or banking transactions

» There are no foreign currency control regulations

» Political and economic stability

» Service provided by the principal international airlines

» Excellent hotel accommodations

» Excellent international communication systems

» Qualified personnel

» There are no taxes on capital gains or income, or other type of taxes

COMMERCIAL TRANSACTIONS

The IBC can engage in any licit business in any country, and carry out transactions in any currency they choose

DIRECTORS/DIGNITARIES, AND SHAREHOLDERS

» Shareholders, directors, and/or dignitaries can be natural or juridical persons

» Any initial or present change in directors or dignitaries must be inscribed in the Bahamian Registry

» Directors can grant general or special powers of attorney

» Companies are allowed to have a sole director

» Directors or dignitaries need not be shareholders

» Shareholders, directors, and dignitaries can be of any nationality and be residents of any country

» Shareholders and/or directors meetings can be held in any country and they can participate in same via power of attorney or any electronic media such as telephone, fax, etc.

REGISTRIES

» The books, registries, and certificates of the company can be kept in any place or country that the directors choose

» It is not necessary to neither present nor register annual accounts

REGISTERED OFFICE, CORPORATE SEAL, AND LEGALIZATION

» It is required that the Registered Office be located in The Bahamas

» Corporate seal is obligatory

» The Apostille is the method usually employed for the legalization of documents

USE OF INTERNATIONAL BUSINESS CORPORATIONS OF THE BAHAMAS

» Titleholder of bank accounts, fix-term deposits, investment projects, and any other financial or commercial title

» Proprietor of shares of other corporations or legal entities

» Proprietor of apartments, houses, buildings, ships and any other assets or real estate or chattel

» Administrator or promoter of international commercial transactions

» International leasing of vehicles, machinery, ships, and other

» Ideal instrument to give or receive money in loan, pay or receive commissions, royalties, and other revenues

» Marketing and promotion of products and services

» Other commercial and financial activities

» OFFICIAL LANGUAGE

English

» GOVERMENT

Parliamentary democracy. Member of the British Community of Nations, which recognizes Queen Elisabeth II as chief of state

» STANDARD OF LIVING

High

» BANKING

International banking systems available.

» CURRENCY

Bahamian dollar, which is at parity with the dollar of the United States of America (US$)

» INDUSTRY

Tourism, financial services and small industries.

TAXES

Tax exemption on any commercial activity or transaction carried out outside The Bahamas.

AUTHORIZED CAPITAL / SHARES

» Only nominative shares are allowed

» Non-existence of minimum or maximum capital requirements

ANNUAL TAX DECLARATIONS

» It is not obligatory to present annual performance declarations or reports, nor financial statements

» It is not obligatory to hold general annual shareholders or directors meetings

INCORPORATION AND ADMINISTRATION

» Ample availability of company names for incorporations

» Familiarity with incorporation documents (Corporate Charter and By-Laws, and Incorporation Certificate), due to the fact that The Bahamas belongs to the British Commonwealth.

» The words “Limited”, “Corporation”, “Incorporated”, “Société Anonyme”, or “Sociedad Anónima”, or the abbreviations “Ltd.”, “Inc.” or “S.A.”, can be used as part of the name of the company.

» Incorporation documents can be drafted in any language and accompanied by its English translation

» Expeditious incorporation process and simple administration

» Incorporation process takes 7 days

» The Public Registry of The Bahamas is equipped with a modern and sophisticated computer system that increases the speed and efficiency of the processing of documents

DOCUMENTS KEPT IN THE REGISTERED OFFICE

» Copy of Shareholders Registry

» Copy of the impression of the official seal

COSTS AND HONORARIES

Reasonable incorporation and maintenance costs

REDOMICILIATION

Corporations of other jurisdictions can be expeditiously redomiciled to The Bahamas

CORBETTI PEZZOTTI & QUIJANO REQUIREMENTS

Adequate references of moral solvency and other due diligence documents, as required

*Information courtesy of MOSSACK FONSECA & CO


ADDITIONAL LEGAL SERVICES IN PANAMA

LAWYERS

OFFSHORE CORPORATIONS IN PANAMA

INVESTMENTS

VIRTUAL OFFICE

VISAS

COPYRIGHT

RETIRED

BANK ACCOUNTS

 

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