Bahamas Corporation

About Bahamas

Located in the Caribbean, just south of Florida, the Bahamas is an archipelago of over 700 islands. The Bahamas attracts tourists from all over the world for their picturesque beaches as well as adventure seekers for exploring one of the largest underwater cave systems in the world.

The Bahamas is one of the most sought-after offshore jurisdictions known for its robust legal system. They offer a reputable history with a stable economic and political environment along with favorable corporate and tax laws. As the world leader in offshore company formation, the Bahamas has set up over 100 000 companies over the past 25 years.

Prime Minister:
Philip Davis

Government:
Parliamentary constitutional monarchy

Economy:
Tourism, and Offshore financial services

Currency:
Bahamian Dollar

Capital City:
Nassau

Population:
Over 390,000

Language:
English, Creole

Tax system:
Territorial Tax System

Members of:
United Nations, Commonwealth, Organization of American States,CARICOM


Benefits

Setting up an offshore corporation is simply setting up a corporation in a different jurisdiction other than the home country or the country of the company’s main operations. Offshore jurisdictions typically offer better corporate and financial laws as opposed to onshore jurisdictions. The offshore industry is addressing and offering viable solutions to address the ever-changing needs of global business and banking, creating offshore entities with an array of benefits.


Characteristics


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Process

1. While many offshore jurisdictions offer similar advantages and benefits, there are no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

2. Defining the objectives of the corporation will help establish which legal structure is right for you. Our advisors will assist in setting up the corporation along with any related services.

3. Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the corporation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

4. Each jurisdiction will have its own setup process and set of due diligence processes. Bahamas requires clients to fulfill KYC (Know Your Client) by proving their identity with proof of address, as well as completing a simple form to provide the necessary information to set the corporation up.

5. Once the required documentation is received, the provider can then file the corporation deed, creating a legal entity in the registry.

6. After the corporation is set up, clients can request any additional services such as business licenses, permits, banking, etc.

7. Annual fees including resident agent and tax/maintenance fee must be paid in order to keep the corporation in good standing with the tax offices in the Bahamas. Financial statements are required to be maintained, though filing of the statements is not required.

While many offshore jurisdictions offer similar advantages and benefits, there are no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

Defining the objectives of the corporation will help establish which legal structure is right for you. Our advisors will assist in setting up the corporation along with any related services.

Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the corporation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

Each jurisdiction will have its own setup process and set of due diligence processes. Bahamas requires clients to fulfill KYC (Know Your Client) by proving their identity with proof of address, as well as completing a simple form to provide the necessary information to set the corporation up.

Once the required documentation is received, the provider can then file the corporation deed, creating a legal entity in the registry.

After the corporation is set up, clients can request any additional services such as business licenses, permits, banking, etc.

Annual fees including resident agent and tax/maintenance fee must be paid in order to keep the corporation in good standing with the tax offices in the Bahamas. Financial statements are required to be maintained, though filing of the statements is not required.


Our Services

Corporation
Formation

We assist with advising possible jurisdictions to suit your business needs and goals along with the incorporation process.

Continued
Support

We assist with corporation maintenance as well as providing on-going support.

Related
Services

We assist with related services such as offshore trust, foundations, and offshore banking.


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