Company Incorporation in the Bahamas

The Bahamas, officially the Commonwealth of The Bahamas, is a country within the Lucayan Archipelago of the West Indies in the Athletic. The Bahamas is one of the industry veterans when it comes to offshore financial services. the jurisdiction has been attracting foreign wealth due to its absence of taxation and its confidentiality policies. The Bahamas is one of the go-to jurisdictions in terms of offshore corporate, trust, and banking services.

Share capital 
The authorized share capital is usually US$50,000. There is no statutory requirement for capital to be fully or partly paid on incorporation. Shares may be denominated in any currency and may be with or without nominal or par value. Bearer shares are not allowed.

Shareholders
International Business Companies may be formed by one or more shareholders, who can be either natural or legal persons, residents or non-residents, without limitations. Details of shareholders are not publicly disclosed. Nominee shareholders are allowed.

Directors
At least one director is required, who may be a natural person or a legal entity. Directors’ details are available to the public. Nominee directors are permitted.

Secretary
The appointment of officers such as a secretary is optional and may be an individual or a corporation, resident or non-resident.

Registered Address 
An IBC must have a registered office in the Bahamas, provided by a licensed service provider.

General Meeting
Annual general meetings are not mandatory. However, if meetings are held, they can be anywhere in the world and they can be by proxy or by telephone.

Compliance
Bahamas’ IBCs must keep accounting records, which may be kept anywhere. There is no requirement to file financial statements and annual returns to the Registrar, nor tax returns to the Tax authorities. Bahamas IBCs are subject to an annual government fee.

Taxes
Corporate income tax – Bahamas does not levy a corporate income tax.
There are no withholding taxes on dividends, interests, and royalties paid to non-residents.

IBCs in the Bahamas may trade with residents and they may own real estate within the territory, but exchange controls and stamp duties on authorized capital will apply in these cases.

Other taxes
There are no personal direct taxes such as personal income tax or net worth tax.

The Bahamas levy a real property tax up to 2% for land and building owners, although several exemptions may apply. There is also a stamp duty on the transfer of certain assets and financial instruments.
Companies conducting business in the Bahamas may be subject to several indirect taxes such as import duties, hotel guest tax, passenger tax, and casino tax, among others.

Benefits of doing business in the Bahamas
• Business facilitation
• Focus on economic growth
• Judicial independence and a legitimate system
• Receptive to foreign investment