BAHAMAS COMPANY FORMATION AND BANK ACCOUNTS
Bahamas Company. Bahamas Offshore Company.
KGN specializes in Bahamas Company Formation and opening Bahamas Offshore Bank Accounts.
Bahamas Offshore Company Registration – Overview
The Bahamas is an ideal financial location for individuals and corporations seeking to gain tax advantages with confidentiality. A Bahamas Offshore Company can be used for asset protection, estate planning, tax mitigation and privacy. The most direct path toward attaining these advantages is by the formation of an international business company, commonly referred to as a Bahamas IBC.
Key Benefits of Bahamas Offshore Company
Exemption from all local taxes and stamp duty
Maximum confidentiality and anonymity
Ease of operation, maintenance and control
Asset security
No disclosure or minimum capital requirements
The minimum number of shareholder is one
The minimum number of director is one
Excellent and flexible post-incorporation follow-up services
No statutory requirement to hold annual general meetings
Highly competitive fees and costs
Legislation
Principal Corporate Legislation
The IBC Act 2000 and The IBC (Amendment) Act 2004 as amended.
Type of Law
Common.
Language of Legislation and Corporate Documents
English.
Type of Entity for International Trade, Investment & Tax Planning
IBC – International Business Company.
Bahamas Offshore Company – Key Facts
Share Capital
Standard authorised share capital is US$50,000. Minimum paid up share capital is US$1.
Classes of Share Available
Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.
Bearer Shares
Not permitted.
Restrictions on Trading
Cannot trade within the Bahamas or own real estate there. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.
Registered Agent Required
Yes.
Registered Office Required
Yes, must be maintained in the Bahamas.
Directors
The minimum number of directors is one. Director can be of any nationality and need not be resident in the Bahamas. Corporate directors are permitted.
Shareholders
The minimum number of shareholders is one.
Publicly Accessible Records
No.
Nominee Shareholders and Nominee Directors
Allowed.
Location of Meetings of Directors and Shareholders
Anywhere.
Personal Presence Required
No.
Taxation
Nil.
Double Taxation Treaty Access
None.
Requirements to File Accounts
None.
Requirement to File Annual Return
None.
Requirement to File Annual Return
None.
Audit Requirements
None.
Exchange Control
None.
Language of Name
English.
Restricted Words
Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust” etc. will require justification.
Name of a Company
The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima”, “Gesellschaft mit beschrГ¤nkter Haftung”, “Corporation” or Ltd, Corp., Inc., S.A., GmbH must be part of the name of every IBC.
Time to Incorporate
One week.
Bahamas Company Formation Prices
Bahamas Company Formation Package Includes:
Company Name Check
Initial Business Approval
Preparation of Application Documents
Company Registration Fee
Registered Office Address for 1 year
Registered Agent Services for 1 year
Government filing fee
Memorandum & Articles of Association
Minutes of first meeting appointing the director(s)
Share Certificate(s)
Register of shareholders
Register of directors
Starting at: $2550
Why Choose KGN ?
We’ve been helping business owners since 1996
Incorporating your business is our focus
We make a complex process fast and easy
We work closely with Companies Registries to guarantee our service
Fastest offshore companies & accounts – Most competitive pricing worldwide
Services Offered
KGN provides the following services in the Bahamas
Bahamas Company Formation
Registered Office and Agent Services
Secretarial Services
Nominee Shareholder / Nominee Director
Opening of Bank Accounts
Full Administration Services
Mailing Address
Trademark Registration
Bahamas – General Information
Location: Chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba.
Area: total: 13,880 sq km, land: 10,010 sq km, water: 3,870 sq km. …
Natural resources: Salt, aragonite, timber, arable land.
Population: 329,988.
Capital: Nassau.
Time Zone: UTC−5.
Languages: English (official), Creole (among Haitian immigrants).
Government type: Parliamentary democracy (Parliament) under a constitutional monarchy; a Commonwealth realm.
Legal system: Common law system based on the English model.
International organization participation: ACP, AOSIS, C, Caricom, CDB, CELAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC (NGOs), ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, ISO (correspondent), ITSO, ITU, LAES, MIGA, NAM, OAS, OPANAL, OPCW, Petrocaribe, UN, UNCTAD, UNESCO, UNIDO, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO (observer).
Economy: The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% of GDP and directly or indirectly employs half of the archipelago’s labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors.
Currency: Bahamian dollar (BSD).
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Requirement to File Annual Return