BAHAMAS

The country has become one of the most sophisticated and powerful centers of the global offshore financial services industry, and it boasts over 400 banks from more than 30 countries, with a combined asset base of over $200bn. The legal system is based upon British Common Law.

Tax system facts:

NO income tax, profit tax, sales tax, capital gains tax, dividends tax, wealth tax, withholding tax, inheritance tax, gift and estate taxes;NO Double Taxation Treaties have been signed.

The best offshore tool in the Bahamas: International Business Company (IBC)

OUTSTANDING FEATURES:

Corporative legislation	The act of International Business companies 1989, amended on 1992, 1994 and 2000.
Form of tax-exempted company	International Business Company (IBC), hereinafter Company;
Authorized business activities	All and any activities not prohibited by the law. Providing of banking, insurance and re-insurance, trust services is subject to special license.
Prohibited activities	To carry out transactions with residents of Bahamas, to own real estate in territory of Bahamas;
Taxation	Company is exempted from all and any taxes and duties;
Name of company	Should not be identical or confusingly similar on already existing ones; The name must contain words Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft mit beschankter Haftung or abbreviations Ltd., Corp., Inc., GmbH, SA. Words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other words or word-combinations having the same value cannot be used in name of the IBC company.
Equity capital of the company	Equity capital of the company is declared, there are no requirements about obligatory payment and establishment of the minimal/maximal amount of statute capital;
Recommended equity capital	5000 USD, divided into 5000 shares with par value 1 USD;
Shares	Release of only registered shares is allowed;
Shareholders - Minimum number - Nominal shareholders - Holders of trust equities	Two, natural or legal entities; Permitted; Permitted;
Does the law provide for non-disclosure of the information about actual owner of the company	Yes, the real owner of the company is not registered on Bahamas;
Directors - minimum number - nationality and citizenship - status	Two (physical or legal entities); There are no requirements; All rights, except for shareholders taking place in the exclusive competence (determined by the memorandum, the statute and-or the law);
On the territory of Bahamas there has to be: - registered office - registered agent	Required; Required;
Holding of the meeting of shareholders/directors	Meetings may be hold in any part of the world one time in the year; Minutes may be kept at any place;
Mandatory - keeping of accounting records - annual account - presentation of auditors conclusion	No; No; No;
Information at disposal to the third party	The memorandum of incorporation, the Articles of Assocation, the name of the registration agent and registration office;
The documents kept at registration office	The register of shareholders and directors, print of a seal;
Agreements on exemption from double taxation	None;
Currency control	No;
Term of incorporation	3 weeks;
Costs of registration of company	Look below
Financial year ending on:	March
Possibility to purchase a ready-made company	Yes

BAHAMAS INTERNATIONAL BUSINESS COMPANY FEES STRUCTURE

I. THE BASIC SET OF SERVICES AND DOCUMENTS:

EUR 1,750

The set includes the applicable Minimal Government Registration Fee, a current year Registered Agent and Registered Office Fee , Certificate of Incorporation, Memorandum & Articles of Association, Minutes with Appointment of Initial director(s), Share Certificates, nominee director's service with Apostilled POA.

II. OPTIONAL SERVICES

US$ 150 per document for each extra copy of Certificate of Good Standing , Certificate of Incumbency , Certificate of Incorporation , Certificate of Formation ,  Memorandum & Articles of Association, Articles of Incorporation, or By-laws.

Note. BAHAMAS is a signatory to the Le Hague Convention of October 25, 1961, and therefore the documents of the company can be authenticated via Apostille and automatically legalized in all countries having signed the convention. So, there is no need to provide expensive and time consuming legalization in consular establishments when you are opening bank accounts, setting up a branch, purchasing a real estate property, etc.

Certificate of Good Standing with Apostille: US$ 250

III. ANNUAL FEES

EUR 1,400

IMPORTANT NOTES

• We reserve the right to change fees without notice.
• The payment options are: WIRE TRANSFER.

Useful links:

Bahamas On-line