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The Commonwealth of the Bahamas
is an English-speaking former British colony, which became
independent in 1973. There are some 700 islands in the archipelago
of which the closest is only 50 miles southeast of Florida,
USA. It has a stable democracy and is economically prosperous.
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 tools in the Bahamas:
International Business Company (IBC) and Private Foundation
BAHAMAS OFFSHORE COMPANY
International Business Company (IBC) - outstanding features:
- Corporate tax: NO
- Names disclosure in public records:
beneficial owner(s) - NOT DISCLOSED/NOT ON RECORD
shareholders - NOT DISCLOSED/NOT ON RECORD
directors
- YES/ON RECORD, BUT NOMINEES CAN BE PROVIDED
- Minimum number of directors: ONE
- Non-resident directors: ALLOWED
- Minimum number of shareholders: ONE
- Bearer shares:
NOT ALLOWED
- Annual return filing requirements: NO
Actions speak louder than words: more than 100,000 international
business companies (IBCs) have been incorporated in the
Bahamas.
SCHEDULE OF FEES FOR A BAHAMIAN IBC
Private Foundation - outstanding features:
- Corporate tax: NO
- Bearer shares:
NOT ALLOWED
- beneficial owner(s) - NOT DISCLOSED/NOT ON RECORD
Secretary - YES/ON RECORD
Founders
- YES/ON RECORD
- Minimum Number of Foundation Council Members: ONE IF LEGAL ENTITY, TWO IF AT LEAST ONE IS A NATURAL PERSON
- Non-resident Foundation Council Members: ALLOWED
- Shareholders: DO NOT EXIST. THE FOUNDATION OWNS IT'S ASSETS ITSELF UNTIL DISTRIBUTION TO BENEFICIALRIES
- Annual return filing requirements: NO
SCHEDULE OF FEES FOR A BAHAMIAN PRIVATE FOUNDATION
Return to Offshore Company Formation home.
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