Bahamas Company Formation
Benefits of an Bahamas International Company Formation
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No income tax or any other taxation
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Fast and easy company incorporation process
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Good reputation of the jurisdiction and proximity to the US
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Strong corporate privacy provisions
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Modern regulatory environment & political stability
from £2,495.00
Why Set Up Bahamas Company?
The Bahamas’ offshore company benefits make it a fantastic offshore destination for many reasons. Firstly, the tax system is unique and has no income tax, capital gains tax, or corporate tax. This means that individuals and businesses can keep more of their profits, which is a huge advantage. Secondly, the regulatory framework in the Bahamas is well-developed and provides for effective regulation of the financial services sector.
Modern regulation and infrastructure
This includes a robust anti-money laundering and counter-terrorist financing regime. Additionally, the Bahamas’ strategic location, not far from the United States, makes it an ideal location for offshore businesses. English is the official language, and the country has a friendly and welcoming culture that is attractive to visitors. There is also access to a well-educated workforce that includes many experienced professionals in the financial services sector.
Finally, a company formation in the Bahamas offers a stable political and economic environment that is conducive to business growth and development. All of these factors make offshore incorporation in the Bahamas an excellent alternative for individuals and businesses looking to establish a presence in a tax haven that is well-regulated and offers a stable environment.
Variety of structures and easiness of doing business
A Bahamas offshore business company is a popular alternative due to its tax efficiency, business-friendly environment, and strong legal framework. The process of forming an offshore company in the Bahamas is relatively straightforward, and there are several types of companies to choose from, including IBCs and LPs. Offshore company formation in the Bahamas also offers strong privacy in addition to tax-free status and offshore bank accounts.
One of the benefits of incorporating an offshore company in the Bahamas is that there are no income taxes on profits earned worldwide. In addition, there are no exchange controls or public records of shareholders or directors. Furthermore, having a Bahamas offshore bank account allows one to easily manage assets.
Taxation in the Bahamas
The Bahamas is a classic tax haven. Unlike most other countries, there is no income tax, corporate tax, withholding tax, or capital gains tax. This means that individuals and businesses operating within the Bahamas do not have to pay any income taxes or tax on profits or gains.
Effectively, a Bahamas offshore company is tax-free on worldwide income from any source. Dividend distribution is not subject to tax in the Bahamas. Instead of tax, companies in the Bahamas pay a fixed government fee.
A popular choice for a tax-neutral company
The Bahamas offshore tax haven is the primary choice to set up an offshore company in a tax-neutral jurisdiction.
The same approach applies to individuals residing in the Bahamas. Going offshore in the Bahamas is indeed reasonable, as there is no personal income tax applicable to both residents and non-residents in the Bahamas. Inheritance tax, estate tax, or taxes on gifts are not applicable either.
For this reason, the Bahamas’ offshore company formation can be highly beneficial for estate planning purposes.
No value-added tax is applicable to offshore companies in the Bahamas.
Corporate Legislation in the Bahamas
The Bahamas has a well-developed legal system based on the English common law tradition. The country’s legal system consists of statutes, common law principles, and case law.
Supervision and business environment
The Bahamas offshore industry is overseen by the Securities Commission of the Bahamas. The commission ensures that Bahamas company formation services are carried out according to the country’s laws and regulations.
Local legislation provides a competitive and attractive environment for international investors and entrepreneurs looking to establish an offshore presence. With its favourable tax policies, strong confidentiality protections, and flexible corporate structures, setting up an offshore business in the Bahamas is highly beneficial.
Overall, the International Business Companies Act is a progressive piece of legislation that has laid the foundation for the country’s thriving offshore industry. Its impact has been felt not only in the Bahamas but also in offshore jurisdictions around the world.
The Bahamas IBC
The IBC, which was established under the International Business Companies Act 2000 as last amended in 2014, is the primary corporate entity that is registered in the Bahamas and is utilised for offshore asset holding. This legislation is a copy of the IBCA 1984, a former BVI legislation that shares some of the characteristics of the English and US company models.
The company is granted IBC status solely on the condition that it refrains from conducting business or owning real estate in the Bahamas. It is required to have a local registered agent, as well as one shareholder and one director of any nationality or residence. There is no minimum share capital requirement that can be denominated in any currency. Meetings may be conducted in the Bahamas, and they may be managed and operated from the Bahamas or from another location.
Under the Bahamas’ offshore legislation, IBCs are exempt from taxation and are not required to disclose their ownership or financial information to the public.
The Company Incorporation in the Bahamas Package Includes the Following Company Documents:
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Certificate of Incorporation issued by the Bahamas Company Registry
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Certificate of Compliance issued by the Bahamas Company Registry
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Memorandum of Association stamped by the Bahamas Company Registry
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Articles of Association stamped by the Bahamas Company Registry
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Register of directors
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Register of shareholders
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Register of beneficial owners
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Resolution of subscribers appointing the first directors
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Written resolution adopted by the directors upon incorporation
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Share certificate
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Consent letter of the director
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Other documents depend on the services ordered after company registration.
** Payment Plan Also Available For New Incorporations
