DOING BUSINESS IN BAHAMAS
Since 2003, Healy Consultants has assisted our Clients with starting their company in Bahamas. Our services include i) Bahamas international business registration ii) government license registration iii) international or Bahamas business bank account opening iv) employee recruitment strategies v) visa strategies and vi) office rental solutions.
Press the link headings below to read detailed, relevant, up to date information.
Advantages and disadvantages
Advantages of Bahamas company registration
- It is possible to register a company in Bahamas with only i) one shareholder ii) one director, who can be both foreigners and reside outside of the Bahamas. There is no minimum paid-up capital to complete Bahamas business formation and our Clients are not required to travel to Bahamas for the company incorporation procedures;
- Forming a company in the Bahamas is also quick and can be completed within one week, after receipt of all required documents. We can open the corporate bank account in the Bahamas or elsewhere in the world;
- All trading income received by a Bahamas offshore company (also known as an IBC) is legally tax exempt locally: there is no corporate income tax, capital gains or VAT payable on sales made abroad;
- While Bahamas IBC companies incorporated in the Bahamas are required to file annual financial statements, they are not required to submit them with the local tax authority;
- The Bahamas has recently committed to follow the standards tax guidelines of the Organisation for Economic Cooperation and Development (OECD) and has signed 10 tax information exchange agreements (TIEAs) with countries including: i) France ii) New Zealand iii) China iv) the United Kingdom and v) the United States;
- It is easy to open global corporate bank accounts to support a Bahamas business. Healy Consultants works with internationally recognized banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services in Bahamas or elsewhere in the world.
Disadvantages of Bahamas company registration
- Our Clients running their operations through a Bahamas IBC company will face negative stigma and stigma from customers, suppliers, banks and Governments. The Bahamas is well known as an offshore tax haven;
- It is important our Clients forming a Bahamas offshore company are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants help to clarify your local and international annual tax reporting obligations;
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- Time to incorporate: Two weeks
- Cost to set up: US$8,950
- Minimum capital: US$0
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: No
- Resident director: No
- Corporate tax rate: 0%
- Corporate tax base: Territorial
- Shelf companies: Unavailable
- Main company type: IBC
Useful links for Bahamas
Government and public authority websites:
- Doing Business 2013 – The Bahamas
- The Bahamas – KPMG
- Bahamas Tax Guide – PKF
- Commonwealth Of The Bahamas – VAT
- Guidelines for Electronic Banking – Central bank of The Bahamas
- The Bahamas Immigration Act
- The Bahamas Business Companies Act