The underlying legal code in BAHAMAS is common law law. Common law jurisdictions are generally regarded as easier to structure. One is permitted to electronically sign documents.
The abbreviation BS is for BAHAMAS and the most common company type in BAHAMAS is an IBC.
You should expect a wait time of 1-7 Days to incorporate an IBC in BS. The types of currencies you can use to fund your legal entity is often BSD, USD, and Any legal tender.
Yes, one is allowed to re-domicile an IBC from BS. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own an IBC in BS by yourself. Corporate Shareholders are encouraged, which means you can have a corporate shareholder. Foreign ownership is tolerated, up to 100% of the ownership of the IBC.
An IBC is only required to have 1 director on the board. Speaking of shareholders, corporate directors are permitted. Directorship information is ususally not shared with the general public.
A registered legal firm must be retained for an address, paid by the company on an annual basis, for a professional firm which can receive a service of process on behalf of the company. A related requirement, a corporate secretary is not always necessary, at least not by law.
There is a not currently a requirement to file annual returns. This won't exclude the business or its owners from additional tax or reporting obligations elsewhere and you would be wise to receive personal advice on your own tax obligation. On that note, there is not typically a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are not disclosed in the public registry of Bahamas, Register General Department. Shareholders are not disclosed in the Register General Department.
Typically companies take 1-7 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Bahamas is a good option and have given it a score of 84 as an IO score, using the Incorporations.IO proprietary formula.
1-7 Daysto form