Tel: (852) 2528 9298

2nd Floor, Jonsim Place, 228 Queen’s Road East, Wanchai, Hong Kong

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Tel: (852) 2528 9298

2nd Floor, Jonsim Place, 228 Queen’s Road East, Wanchai, Hong Kong

Google Map

General

Information

 

The Bahamas comprises over 700 Islands off the South East Coast of Florida in the Caribbean. The Bahamas was a British Colony until 1973 when they became independent. Accordingly, the Islands follow the British Common Law system. The Bahamas modelled its International Business Companies Act on British Virgin Islands ' IBC legislation and therefore its Memorandum and Articles of Association is similar to those of a BVI company. However, previously Section 65 of the Bahamas IBC's Act stipulated that Minutes of Shareholders' Meeting must be kept in Bahamas. This has been amended but unfortunately this impediment has hindered the growth of Bahamas companies and gave BVI's a head start.

 

Company Name

 

A name search can be carried out within 48 hours by fax and a Company can be incorporated within 5 days. The original incorporation documents will arrive in Hong Kong within three weeks from incorporation.

 

Taxation

 

Bahamas IBC companies are exempt from income tax.

 

Filing Requirement

 

There is no need to file Annual returns nor Accounts with the Tax Authorities or the Companies Registry.

 

Structure

 

One director would be sufficient, the director need not be a resident of Bahamas. Corporate directors are also permitted. One shareholder would suffice. Again, the shareholder need not be a resident shareholder and the shareholder can also be a corporation.

 

Confidentiality

 

Details of the shareholders are not available on the public file at Companies Registry but a register of shareholders must be kept at the registered office of the Company in Bahamas. This Register of Shareholders is not available for public inspection. Register of Directors has to be filed with Companies Registry in Bahamas. However the government has requested that the beneficial shareholders must be revealed to the local agent.

 

Registered Office

 

Bahamas IBC companies must maintain a Registered Office and Agent in the Bahamas.