Bahamas

Forming a Company In the Bahamas For Only Eur 2999 Including a Company Bank Account

Incredible Offshore Package

  • The Bahamian International Business Company (IBC)
  • Two (2) Foreign Asset Protection Trusts to hold shares in the IBC
  • Bank Account in the Bahamas
  • Help in opening US Checking Account for the IBC in the Channel Islands
  • Debit Card
  • Barclays VISA Card
  • Mail Forwarding for the IBC
  • Help in opening up Brokerage Accounts with US Brokers
  • Help with Re-Invoicing
  • Tom Azzara's "Tax Havens of the World" plus his newsletter for one (1) year
  • Free Consultation on tax questions
  • Directors' and Shareholders' Minutes (at no extra charge)
This incredible "offshore package" (worth more than $10.000) is now yours for only Eur 2999.

Nearby tax havens like the Cayman Islands, the British Virgin Islands (BVI), Panama, Barbados, and the Bahamas have become prominent financial centers rivaling the industrial cities of Los Angeles, Chicago, London, Tokyo and New York for business. The pint-sized Cayman Islands now boast more commercial banks (over 530) in the commercial registrar than in all California. The dollars on deposit in these Cayman banks exceeds $410 billion dollars, and that's more dollars on deposit than in all of California's commercial banks.

The Bahamas, just 50 miles off the coast of Florida, were once the third largest financial center in the world - behind New York and London. Today the Bahamas still rank in the top ten, right behind the Caymans in depositor dollars and offshore company formations. There are more than 390 banks and trust companies registered here in Nassau.

The Bahamas have no personal income taxes, no corporate income taxes, no capital gains taxes, no withholding taxes, no estate, gift or inheritance taxes, no sales taxes, no employment taxes, no death duties, and no probate fees. Guarantees against future taxes are provided by the government for periods up to 50 years. Exempt trusts can receive a guarantee up to 100 years.

Q: Do you have contacts in the Bahamas who are trustworthy?
A: My partners in the Bahamas include a mid-size Law firm with an office in downtown Nassau. These lawyers have over 40 years of business experience in the Bahamas. In the respect, our firm is in a position to offer you the Bahamas Full Incorporation Package which includes the cost of incorporating a suitable company in the Bahamas, Nominee Directors, Government Fees, Registered Office and Resident Agent - and the most important - a Business Bank Account in the name of the company. Total cost is $2.699.

New Bahamian Companies generally take up to one week to establish. The above $2.699 includes the first year's maintenance fees plus DHL delivery to you (free of charge). Please allow up to 21 days for the DHL delivery of your full company kit.

Thanks and best regards,
Sterling Fisher, Offshore-Manual


CORPORATE FEATURES

GENERAL
Type of Company
IBC
Political Stability
Good
Common or Civil Law
Common
Disclosure of Beneficial Owner
No
Migration of Domicile Permitted
Yes
Tax on Offshore Profits
No
Language of Name
Latin or other alphabet
CORPORATE REQUIREMENTS
Minimum Number of Shareholders
One
Minimum Number of Directors
One
Bearer Shares Allowed
Yes
Corporate Directors Permitted
Yes
Company Secretary Required
No
Standard Authorised Share Capital
US$ 5,000
LOCAL REQUIREMENTS
Registered Office/Agent
Yes
Company Secretary
No
Local Directors
No
Local Meetings
No
Government Register of Directors
No
Government Register of Shareholders
ANNUAL REQUIREMENTS
Annual Return
No
Submit Accounts
No
RECURRING GOVERNMENT COSTS
Minimum Annual Tax/Licence Fee
US$ 250
Annual Return Filing Fee
N/A

GGENERAL INFORMATION:

The Bahamas extends in a 1,225 km arc from 78 km east of Palm Beach, Florida, to just north of Haiti. The Bahamas consists of an archipelago of nearly 700 islands and 2,000 cays scattered over 250,000 sq. km of the brilliant blue waters of the Atlantic Ocean. New Providence Island, site of the capital city of Nassau, has an area of 215 sq km. The second largest city, Freeport, is on Grand Bahama Island, which has an area of 1,370 sq. km. It is less than 60 km from Miami. The three largest islands in the chain are Andros, 6,000 sq. km; Abaco, 1,685 sq. km and Inaguas, 1,554 sq. km.

POPULATION

The population of the Bahamas is approximately 340,000 the majority of which live on the Island of New Providence and Grand Bahama Island. Many of the Islands are uninhabited due to the lack of fresh water.

POLITICAL STRUCTURE

The Bahamas was initially settled in around 1640 by the Eleutherian Adventurers, a group of Englishmen who sailed from Bermuda. The Bahamas has had a representative form of Government since the 17th century. In July 1973, the Bahamas achieved its goal of becoming an independent country within the British Commonwealth. A Governor General appointed by the British Government is responsible for defence, external affairs and internal security.

However, the real head of the Government is an elected Prime Minister who consults with a Cabinet of sixteen, twelve Cabinet Ministers and four Ministers of State chosen from the Legislature. There are four political parties, the dominant Progressive Liberal Party, Free National Movement Party, and Labour Party. The bicameral legislature has a 49 member House of Assembly and a 16 member Senate.

INFRASTRUCTURE AND ECONOMY

The Bahamas has excellent communications. Twelve airlines including Bahamas Air (the national carrier), Air Canada, Delta Airlines and US Air fly to the Bahamas. They offer daily flight schedules to New York and Miami, weekly flights to Toronto also charter flights between European cities and Nassau. Miami is only 30 minutes away by jet aircraft and New York is less than three hours away. British Airways has regular flights from the United Kingdom to the Bahamas via Miami. In addition to Nassau International on New Providence, an airport with a runway for jets serves Freeport, the Nation's second city and there are 41 other commercial airports and landing strips.

Excellent overseas telephone service includes direct dialling. A new telex system has been installed and cable transmission has been improved by an underground cable line extending to West Palm Beach, Florida. There are also excellent postal and courier services.

LANGUAGE

The official and spoken language is English..

CURRENCY

Bahamas Dollar is on a par with the US Dollar.

EXCHANGE CONTROL

Residents are subject to Exchange Control, but International Business Companies are exempted.

TYPE OF LAW

Statute Law and Common Law based on English Common Law.

PRINCIPAL CORPORATE LEGISLATION

International Business Companies Act 1989 (No. 2 of 1990) as amended.

COMPANY INFORMATION:

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT

International Business Company (IBC).

PROCEDURE TO INCORPORATE

Registered Agent prepares the Memorandum of Association, which after being signed by the two subscribers is delivered to the Registry. The Articles of Association can either be filed at the same time as the Memorandum of Association or within 30 days from the date of incorporation.

RESTRICTIONS ON TRADING

Cannot trade within the Bahamas or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries. Cannot sell its own shares or solicit funds from the Public.

POWERS OF COMPANY

An International Business Company has all the powers of a natural person.

LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS

The legislation and corporate documentation are in English.

REGISTERED OFFICE REQUIRED

Yes, must be maintained in the Bahamas at the address of a licensed management company or law firm.

SHELF COMPANIES AVAILABLE

Yes.

TIME TO INCORPORATE

Two days, but a further five working days are required by the Registrar for the production and release of the Certificate of Incorporation and certified copy of the Memorandum and Articles of Association..

NAME RESTRICTIONS

Any name that has already been incorporated, or a name that is so similar as to cause confusion. Names such as royal or imperial. Any name which, in the opinion of the Registrar, is considered undesirable, obscene or offensive, or any name, which suggests the patronage of the Bahamas Government.

LANGUAGE OF NAME

The name can be in any language using the Latin alphabet. The Registrar may require an English translation to ensure that the proposed name is not on the list of restricted names.

NAMES REQUIRING CONSENT OR A LICENCE

Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents or any name in English or a foreign language that may suggest association with the banking or insurance industries.

SUFFIXES TO DENOTE LIMITED LIABILITY

Limited, Corporation, Incorporated, Sociètè Anonyme, Sociedad Anonima, Gesellschaft mit beshränkter Haftung or the relevant abbreviations.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES

No.

COMPLIANCE:

AUTHORISED SHARE CAPITAL

The normal authorised share capital is US$ 5,000; divided into 5,000 shares of US$ 1, this being the maximum capital for the minimum duty payable at the time of incorporation and the maximum authorised share capital for the minimum licence fee payable annually. The share capital may be expressed in any currency. The minimum issued capital is either two shares of no par value or two shares of par value.

CLASSES OF SHARES PERMITTED

Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

BEARER SHARES PERMITTED

Yes.

TAXATION

The Bahamas is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax.

DOUBLE TAXATION AGREEMENTS

The Bahamas is not a party to any double tax treaties.

LICENCE FEES

Companies with an authorised share capital, with a par value, up to US$ 50,000 pay the sum of US$ 250 per year.

Companies with share capitals more than US$ 50,001 pay the sum of US$ 1,000 per year.

FINANCIAL STATEMENT REQUIREMENTS

Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records which reflect the financial position of a company

DIRECTORS

The minimum number of directors is one. The directors may be natural persons or bodies corporate. They may be of any nationality and need not be resident in the Bahamas.

COMPANY SECRETARY

The Act makes no specific reference to a company secretary, but one is normally appointed to facilitate signing obligations..

SHAREHOLDERS

Minimum number of shareholders: two subscribers, but the shares can be transferred to a single person.

European Jurisdictions