Why incorporate in the Bahamas?
The Bahamas extends in a 1,225 km arc from 78 km east of Palm Beach, Florida, to just north of Haiti. The Bahamas consists of an archipelago of nearly 700 islands and 2,400 cays. It is an ideal financial location for individuals and business seeking tax benefits with confidentiality.
- The Bahamas is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax
- A Bahamas IBC is therefore idea for asset protection, estate planning, tax mitigation and privacy
- Residents are subject to Exchange Control, but International Business Companies are exempted
- The principal corporate legislation governing Bahamas IBCs is the International Business Companies Act 2000 and the International Business Companies (Amendment) Act 2004
- No minimum paid up capital required in order to complete registration
- Only one director and one shareholder are required, both of whom can be foreigners and need not reside in the Bahamas
- Incorporation is fairly quick and can typically be completed within 2 to 5 days
- The Bahamas has excellent communications. There are direct flights from Europe as well as many US cities. Miami is only 30 minutes away and New York is less than three hours away
- The official and spoken language is English