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Formation, Incorporation Of A Bahamian International Business Company (IBC) Setting Up An Offshore Corporation In Bahamas |
 Bahamas IBCs may carry out most business activities. Bahamas offshore companies are exempt from all Bahamas taxes and stamp duties and therefore not subject to any income, capital gains or other taxes. International Business Corporation (IBC) is not subject to Bahamas Exchange Control Regulations. The exemptions remain in force for twenty years from the date of incorporation of a Bahamian offshore company. All the above is advantageous for offshore asset protection.Taxes - Bahamian IBCs pay no taxes in the Bahamas.Shareholders - Only one shareholder is required to form a Bahamas offshore company. All shares should be registered. Details of the shareholders appear in the public record in Bahamas.Directors - A minimum of one director is required for a Bahamas IBC. Directors may be individuals or corporations, and need not be residents of the Bahamas. Directors' details are public.Annual reporting - Annual reports do not need to be filed. There is no requirement to have local meetings. The registers and minutes of meetings must be kept at the registered office. An IBC must have a company seal, an imprint of which is to kept at the registered office.Registered agent - IBCs must keep a local Registered Office/ Agent which we will provide.Transfer of assets - An IBC may transfer its assets in trust for the benefit of its creditors, shareholders or other persons having an interest.Restrictions - The word "Limited", "Corporation", "Incorporated", "Societe Anonyme", "Societe Ananima", or its respective abbreviation "Ltd.", "Inc.", or "S.A.", shall be at the end of the name of the Company.An IBC cannot be registered under a name that contains the words "Assurance", "Bank", "Building Society" ,"Chamber of Commerce", "Chartered", "Cooperative", "Imperial", "Insurance", "Municipal", "Royal", "Trust", or a word conveying a similar meaning.Timing - Bahamas offshore company incorporation can usually be completed within 15 - 20 working days, although the extensive due diligence procedure may make this time much longer.Authorized share capital - The maximum authorized share capital is US$ 5,000.00, for the minimum Government fees. There is no requirement to pay the capital.Confidentiality: The names and addresses of the company's directors, officers and shareholders are filed and registered in the Bahamas and therefore are public.To initiate the incorporation of an IBC in Bahamas the client has to provide the following documents for every beneficiary, director and shareholder:- notarized passport copy; - original bank reference; - notarized proof of residence; - original professional character reference; - due diligence form. The due diligence documents have to be forwarded to Bahamas prior to incorporation.
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Schedule of fees. |
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Important Note. |
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Companies incorporated within May - December of current year will pay renewals in two installments. US$ 390 is to be paid in April of the year following the year of incorporation and US$ 700 is to be paid on the anniversary of the company..
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