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Posted By: Gregory Burke | 24 Apr 2016

Bahamas IBC, Bahamas offshore company

Bahamas IBCs are capable to carry out most business activities. Bahamas offshore companies are exempted from all Bahamas taxes and stamp duties and therefore not subjected to any income, capital gains or other taxes. International Business Corporation (IBC) is not subjected to Bahamas Exchange Control Regulations. The exemptions remain in force for twenty years from the date of incorporation of a Bahamian offshore company. All the above is advantageous for offshore asset protection.

Taxes

Bahamas IBC pays no taxes in the Bahamas.

Shareholders

Only one shareholder is required to form a Bahamas offshore company. All shares should be registered. Details of the shareholders appear in the public record in Bahamas.

Directors

A minimum of one director is required for a Bahamas IBC. Directors may be individuals or corporations, and need not be residents of the Bahamas. Directors’ details are public.

Annual reporting

Annual reports do not need to be filed. There is no requirement to have local meetings. The registers and minutes of meetings must be kept at the registered office. Bahamas offshore company must have a company seal, an imprint of which is to be kept at the registered office.

Registered agent

Bahamas IBC must keep a local Registered Office / Agent, which we will provide.

Transfer of assets

Bahamas offshore company may transfer its assets in trust for the benefit of its creditors, shareholders or other persons having an interest thus providing offshore asset protection.

Restrictions

The word “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Societe Ananima”, or its respective abbreviation “Ltd.”, “Inc.”, or “S.A.”, shall be at the end of the name of the Company.

Bahamas IBC cannot

Be registered under a name that contains the words “Assurance”, “Bank”, “Building Society”,”Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Insurance”, “Municipal”, “Royal”, “Trust”, or a word conveying a similar meaning.

 

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