Quick facts about Bahamian International Companies (IBCs)
|Minimum number of shareholders||Two (2)|
|Annual Government Fee (Min. Authorized Share Capital of US$5,000)||US $330|
|Disclosure to Government of beneficial owners||NO|
|Public disclosure of directors and officers||YES|
|Minimum officers required||1 Director|
|Corporate Directors permitted||YES|
|Corporate Secretary permitted||YES|
|Bearer shares permitted||NO|
|Local representation essential||Registered Agent & Address|
|Ready-made companies available||YES|
|Corporate or Personal Income Tax||NO|
|Accounts to be audited||NO|
The Commonwealth of the Bahamas offers one of the most stable political democracies in the Western Hemisphere. It is a strategically located archipelago a mere 50 miles off the coast of the United States of America, providing excellent opportunities for the discerning investor and offering a safe harbor for corporate and personal assets. It is a vibrant and mature international financial center linked to every major international market in the world.
The Bahamas boasts over 350 banks and trust companies. The full range of modern services thrive here, including private banking, company registration, captive insurance, ship’s registry, estate, portfolio and trust management and asset protection. The Bahamas has no exchange control regulations for non-Bahamians and the official currency is the Bahamian dollar which is on par with the US dollar.
In December 2000, The Bahamas repealed the International Business Companies Act which had been brought into effect in 1990 to allow swift incorporation procedures and uncomplicated ongoing administration. This act is now replaced by the International Business Companies Act, 2000. The most important features of the new Act are reflected in the Quick Facts table above.