Why the Bahamas?
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 2,400 cays. It is an ideal financial location for individuals and businesses seeking tax benefits with confidentiality.
- Well regulated and sophisticated jurisdiction
- Excellent infrastructure, communications and banking facilities
- Modern corporate legislation
- English is the official language
- The Bahamas has a low taxation and introduced tax in 2023 as follows (for Bahamas domiciled IBC in relation to overseas income) A tax of $2,500 where revenue from activities does not exceed $1m or a tax of 0.25% up to a maximum of $100,000 where the revenue from activities exceeds $1m.
- A Bahamas IBC is therefore idea for asset protection, estate planning, tax mitigation and privacy
- Residents are subject to Exchange Control, but International Business Companies are exempted
- The principal corporate legislation governing Bahamas IBCs is the International Business Companies Act 2000 and the International Business Companies (Amendment) Act 2004
- No minimum paid up capital required in order to complete the registration
- Only one director and one shareholder are required, both of whom can be foreigners and need not reside in the Bahamas
- Incorporation is fairly quick and can typically be completed within two to five days
- The Bahamas has excellent communications. There are direct flights from Europe as well as many US cities. Miami is only 30 minutes away and New York is less than three hours away
- The official and spoken language is English
Services offered in the Bahamas.
- Entity incorporation and management
- Day-to-day company administration including opening and operating bank accounts, issuing invoices, accounting and bookkeeping services
- Company secretarial services
- Provision of professional directors and nominee shareholders
- Registered office and virtual office services
- Accounting services
- Registered agent services
- Payroll services
- Process agent services