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Bahamas Financial Services Board.
Archipelago of islands in Atlantic Ocean, 80 km off the southeast coast of Florida.
Eastern Daylight Time (observed from the second Sunday in March to the first Sunday in November).
Nassau, New Providence.
Lynden Pindling International Airport.
Constitutional parliamentary democracy; bi-cameral legislature.
International Dialing Code
Based on English Common law.
Leader in private wealth management (PWM) services; banking and trust; investment funds; securities advisory; corporate services.
Personal income tax
Corporate income tax
Yes (Upon the incorporation of the entity).
No restrictions. B$1=US$1.
Minimum authorised capital
No minimum capital required.
Minimum share issue
None. (in practice, one).
Timescale for new entities
Two working days with new RGD eServices.
Non-Resident: Capital not exceeding $50,000: B$2,152.20 (US$2,163.00); Capital exceeding $50,000 but less than $100,000: B$2,952.20 (US$2,967.00). Resident (prices are VAT inclusive): Capital not exceeding $50,000: B$2,320.20 (US$2,332.00); Capital exceeding $50,000 but less than $100,000: B$3,120.20 (US$3,136.00). If express service/incorporation is needed, the Registrar will issue the Certificate of Incorporation within 1 business day at an extra cost of US$450 in addition to the incorporation fee stated payable to the Registrar.
For IBCs, the fee payable is BS$350 where the authorised capital is not over BS$50,000 and BS$1,000 where the share capital is over BS$50,000.
Generally, a director/ Secretary need not be resident. However, residency requirements may be stipulated by the Commercial Entities (Substance Requirements) Act, 2018. (See Substance Requirements note below.)
Register of directors and officers. Disclosure of Beneficial Ownership may be stipulated by The Register of Beneficial Ownership Act, 2018.
Minimum of one shareholder.
Public share registry
AGMs are not required and can be held anywhere or by telephone.
None, unless required by the IBC's Articles of Association, but company required to ensure that reliable accounting records are kept as required by the IBC Act.
Change of domicile permitted.
Company naming restrictions
IBC Prohibited Names: 'assurance', 'bank', 'building society', 'chamber of commerce', 'chartered', 'cooperative', 'imperial', 'municipal', 'royal', 'trust', etc. Names must end with an appropriate suffix such as 'incorporated', 'limited', 'corporation', 'gesellschaft mit beschrankkter haftung', 'sociedad anonim' or respective abbreviations.