The Bahamas is an independent republic which first introduced offshore legislation in 1989. It is a long-established and well respected jurisdiction which has guaranteed zero taxation with no public disclosure of beneficial ownership. The legal system is based on English Common Law and the principal corporate legislation is the International Business Companies Act 2000. There are no income, capital gains or estate taxes and no double taxation treaties. There are exchange controls but they apply to residents only.
A company formed under the International Business Act 2000 may not trade within the Bahamas or own real estate there. It may not engage in banking, insurance, fund management business or provide the services of forming and managing trusts and companies.
| Bahamas offshore company regulations |
| Type of entity |
IBC |
| Type of law |
Common |
| Corporate taxation |
Nil |
| Double taxation treaties available |
No |
| Share Capital |
| Usual currency |
U.S.$ |
| Permitted currencies |
Any |
| Minimum paid up |
No par value, but usually $1 |
| Usual authorised |
50,000 |
| Directors |
| Minimum number |
1 |
| Local resident required |
No |
| Records publicly available |
Yes |
| Corporate Director Allowed |
Yes |
| Shareholders / Members |
| Minimum number |
1 |
| Records publicly available |
N/A |
|
|
| Company Secretary |
| Required |
No |
| Local or qualified |
N/A |
| Accounts |
| Required |
No |
| Audit required |
N/A |
| Filing required |
N/A |
| Publicly available |
N/A |
| Other |
| Annual return required |
No |
| Change of domicile permitted |
Yes |
| Availability of shelf companies |
Yes |
| Time to incorporate shelf co |
2-3 working days |
| Time to incorporate new co |
3-5 working days |
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