The Bahamas are a group of more than 700 islands located from Caribbean Sea to the South East of Florida, USA and have been an independent member of the British Commonwealth since 1973.

The Bahamas Companies Act is regulated by the IBC Act which in turn is based on the BVI IBC Act. The Bahamas IBC Act permits related persons to set up special purpose vehicles (SPV), i.e. finite companies.

Advantages

• No tax shall be declarable and payable
• It is not required to declare the beneficial owner
• It is not required to declare financial conditions
• Overseas offshore companies are exempt from taxation in the Bahamas, and there are no Inheritance and Gift Tax

General Requirements

• There shall be at least one shareholder, and bearer shares cannot be issued
• It is required to appoint at least one director
• The company shall have a common seal, and provide its specimen to the Companies Registry

Standard Authorized Capital

• USD50,000

Required Information and Time for Incorporation

• English name of company
• Copies of ID cards or passports of shareholders and directors
• Registration of company (requires 30 days or so)