Bahamas company registration
The Bahamas has become not only a tourist center, but also an excellent tax haven for business representatives. Bahamas company registration is becoming one of the most attractive solutions for international businessmen. The islands are attractive for their developed effective tax and financial legislation that has eliminated such universally accepted concepts for the rest of the world as:
- taxation of company profits
- capital gains tax
- inheritance tax
- requirement for accounting reporting.
So how to apply for the above privileges?
One option is to register a company in the Bahamas. In this jurisdiction, registration have to be in the form of an international business company. A distinctive characteristic of the company will be its closed type of company. Your private limited company will have a number of advantages over your competitors. Corporate law provides the following preferences for owners of international business in the Bahamas:
- The complete abolition of financial and accounting reporting to tax authorities. Thus, you will not need to worry about annual reporting on your activities to government agencies.
- Legislation does not limit the choice of currency of the company.
- The activities of the company are not subject to taxation.
- Highest level of protection for confidential data. Any information about you and your company cannot be provided to third parties.
- Lack of requirements for authorized capital and its payment.
Limitations for an International Business Company
- Ban on the use of Bahamas resources for company operations. The only investment option that the company has is the creation and maintenance of its own office.
- The activities of the company should in no case be conducted on the territory of the islands.
- The company has restrictions in the field of insurance / reinsurance, as well as in the trust and banking sectors.
- It is forbidden to transfer the registered office address to other companies.
- The following words are not allowed in the name: Insurance, Assurance, Bank, Building Society, Chartered, Imperial Cooperative, Municipal Trust, Limited, Ltd, Corporation, Corp., Incorporated, Inc., Sociedad Anónima, SA, Gesellschaft mit beschränkter Haftung, GmbH.
Legal Aspects of incorporating a company in the Bahamas
- Opening an office in the Bahamas, filing the necessary documents with licensed local agents
- Mandatory use of denominations.
- A unique name for your company that has no analogues in the current registry of offshore companies in the Bahamas.
Offshore jurisdictions are a complex tool for conducting international business. Our team of experienced professionals will provide professional advice and offer the best solutions for your business.