The Bahamas - a state situated on islands of the Bahaman archipelago in Atlantic Ocean. It includes 700 islands, territory - 11404 sq. km., population - 300 000, official language - English. National currency - the Bahaman dollar (it is equal to the American dollar).

Bahamas

Corporative legislation The act of International Business companies 1989, amended on 1992, 1994 and 2000 Form of tax-exempted company International Business Company (IBC), hereinafter - Company Authorized business activities All and any activities not prohibited by the law Providing of banking, insurance and re-insurance, trust services is subject to special license Prohibited activities To carry out transactions with residents of Bahamas, to own real estate in territory of Bahamas Taxation Company is exempted from all and any taxes and duties Name of company Should not be identical or confusingly similar on already existing ones The name must contain words Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft mit beschankter Haftung or abbreviations Ltd., Corp., Inc., GmbH, SA Words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other words or word-combinations having the same value cannot be used in name of the IBC company Equity capital of the company Equity capital of the company is declared, there are no requirements about obligatory payment and establishment of the minimal/maximal amount of statute capital Recommended equity capital 5000 USD, divided into 5000 shares with par value 1 USD Shares Release of only registered shares is allowed Shareholders - Minimum number - Nominal shareholders - Holders of trust equities Two, natural or legal entities Permitted Permitted Does the law provide for non-disclosure of the information about actual owner of the company Yes, the real owner of the company is not registered on Bahamas Directors - minimum number - nationality and citizenship - status Two (physical or legal entities) There are no requirements All rights, except for shareholders taking place in the exclusive competence (determined by the memorandum, the statute and-or the law) On the territory of Bahamas there has to be: - registered office - registered agent Required Required Holding of the meeting of shareholders/directors Meetings may be hold in any part of the world one time in the year Minutes may be kept at any place Mandatory - keeping of accounting records - annual account - presentation of auditor's conclusion No No No Information at disposal to the third party The memorandum of incorporation, the Articles of Association, the name of the registration agent and registration office The documents kept at registration office The register of shareholders and directors, print of a seal Agreements on exemption from double taxation None Currency control No Term of incorporation 3 weeks Costs of registration of company Look for: Costs of registration and service Financial year ending on Look for: Annual support of companies Possibility to purchase a ready-made company Yes, look for: Ready made companies