Home |About Us

The Bahamas

The Bahamas comprises over 700 islands and 2,000 cays which are scattered over a 750 mile stretch of the Caribbean from the South east of Florida to just north of Haiti. The Population estimate for The Bahamas for 2008 was 337,668 and almost 60% of the population lives on New Providence, which includes the capital city of Nassau. The Islands are a former British colony which obtained independence in 1973, the Government is very stable and as far as respectability and infrastructure are concerned, the Islands still have a great deal to offer.

The islands operate under a British based legal system. The 1990 International Business Companies Acts, made Bahamian legislation quite similar to British Virgin Islands Company law, but the International Business Companies Act 2000 has introduced some significant differences.

To an extent the Bahamas have given way to the demands of the OECD, although this is clearly undesirable in some ways it may have advantages in making the Bahamas more desirable to certain types of client's e.g. non-tax paying expatriates , etc. The main advantages offered by a Bahamian company are zero taxes which can make this structure very appealing to certain expatriates for whom maximum confidentiality is not a requirement. The Bahamian statute Reciprocal Enforcement of Judgements Act 1924 allows Commonwealth judgements to be enforced in the Bahamas, but revenue matters are strictly excluded. When these points are combined with good banking and communications and the close proximity to the US east coast, the Bahamas are still a jurisdiction to be considered, providing your personal tax position is appropriate. If you are keen on forming a Bahamian company, give us a call first to check its suitability because the changes which were introduced in 2001 have reduced its benefits for many clients.

Three factors might be of concern to some clients, these are: Each Bahamas Company must:

Local Facilities and support services

The Bahamas are first rate in this area, they have a wide range of banks with parent companies in most leading major banking centers. Examples include the UK, Switzerland and the USA, the islands are also home to a number of good local banks. Access to professionals such as lawyers and accountants is available in most towns in the islands.

Taxes

Bahamian IBC's whether resident or non resident are not required to pay any taxes in the Bahamas.

Shareholders

Only one shareholder is required to form a Bahamian offshore company. All shares should be registered. Details of the shareholders appear in the public record in Bahamas.

Directors

A minimum of one director is required. Directors can be individuals or corporations, and do not need to be resident in the Bahamas. Directors' details are on public record.

Registered office and agent

The IBC must keep a local Registered Office / Agent, which ORCA will provide.

Annual reporting

There is no requirement for annual reports to be filed or to hold any local meetings. It is a requirement that the registers and minutes of any meetings must be held at the registered office. Bahamian companies must also have a corporate seal and an imprint of this seal must he kept at the registered office address.

Restrictions

The word "Limited," "Corporation," "Gesellschaft mit beschränkter Haftung", "incorporated," "Societe Anonyme," "Societe Ananima," or its respective abbreviation, "Ltd.," "Corp," "GmbH," "Inc.," or "S.A.," must appear at the end of the companies name.

A Bahamian company cannot be registered with a name which contains words such as "Assurance," "Bank," "Building Society,""Chamber of Commerce," "Chartered," "Cooperative," "Imperial," "Insurance," "Municipal," "Royal," "Trust," or a word conveying a similar meaning.

Timing

A new company incorporation can usually be completed within 15-20 working days, although the extensive due diligence procedure may make this time much longer.

The maximum authorized share capital is US$ 5,000.00, for the minimum Government fees. It is not required that the capital be paid up.

Confidentiality

The names and addresses of the directors, officers and shareholders are filed and registered in the Bahamas and are therefore in the public domain. It is because of the details appearing on public record that some clients opt for a British Virgin Islands company where these details are confidential.

To form an IBC in the Bahamas a client must provide the following documentation for each beneficiary, director and shareholder:

Please note: We must forward the required due diligence to the Bahamas prior to registration

Total Initial Cost in the first year: $1995.00 / €1500.00 / £1250.00

Total Ongoing Annual Costs from year two onwards: $1295.00 / €950.00 / £795.00

* For a company with authorized capital of US$ 50,000 or less. The annual license fees increase incrementally if the authorized capital exceeds $50,000.

If you require an internet domain registration to accompany the formation click here

For details of nominee services please click here

Our Services

We can arrange a company with your choice of name for the same price it will take between 10 and 21 days for the company kit and the statutory documents to arrive, we recommend you select 2 or 3 options regarding the name in case the first is unavailable.

What you receive with your offshore company formation:

UK / Ireland020 7175 0041
(International +44 20 7175 0041)
US / Canada1 954 866 5986
(INTERNATIONAL +1 954 866 5986)
Australia and New Zealand+61 2 9191 7472
(INTERNATIONAL +61 2 9191 7472)
© Copyright 2016 All rights reserved.  |  ORCA Offshore  |  Sitemap  |  Terms & Conditions