Bahamas company registration

DOING BUSINESS IN BAHAMAS IN 2018

Since 2003, Healy Consultants Group PLC 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.

Summary table of Bahamas company registration

SummaryLegally tax exempt LLCFree zone LLCTrustFoundationFund
Also known asIBCFree trade zone companyTrustPrivate foundationInvestment fund
Best use of company?Global tradingManufacturing and export tradingTax planningAsset managementAsset management services
How long to supply company registration / tax numbers?3 weeks3 weeks4 weeks4 weeks4 weeks
How soon can you sign a lease agreement?1 week1 week1 week1 week1 week
How soon can you hire staff?3 weeks3 weeksCannot hire4 weeks4 weeks
Regulatory license always required before trading with customers?NoNoNoNoYes
How soon can you invoice Clients/sign sales contracts?3 weeks3 weeksCannot trade3 weeks6 months
How long to supply corporate bank account numbers?6 weeks6 weeks6 weeks6 weeks7 months
Corporate tax rate on annual net profits?0%0%0%0%0%
Limited liability entity?YesYesYesNoNo
Government grants available?YesYesNoYesYes
Government approval required for foreign owners?NoYesYesYesYes
Resident director/partner/manager/ legal representative required?NoNoNoNoNo
Minimum paid up share capital?US$500,000US$500,000US$500,000US$500,000US$500,000
Can bid for Government contracts?YesYesNoNoNo
Corporate bank account location?CitibankFirst Caribbean International BankRoyal Bank of CanadaScotiabankBank of Bahamas
Can secure trade finance?YesYesNoNoYes
VAT payable on sales to local customers?7.5%0%NoneNone7.5%
Average total business set up engagement costs?US$10,950Contact usContact usContact usUS$27,555
Average total engagement period?3 months3 months3 months3 months3 months

Bahamas business setup summary

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  • Advantages of Bahamas company registration

    Bahamas business registration guide for foreigners

    1. It is possible to register a company in Bahamas with only i) one shareholder, and ii) one director, who can be both a foreigner and a non-resident of 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;
    2. Forming a company in the Bahamas is also quick and can be completed within one week, after receipt of all the required documents. We can open the corporate bank account in the Bahamas or elsewhere in the world;
    3. All trading income received by a Bahamas offshore company (also known as an IBC) is legally tax exempt locally: there are no corporate income taxes, capital gains or VAT payable on sales made abroad;
    4. 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;
    5. The Bahamas has recently committed to follow the standards tax guidelines of the Organisation for Economic Cooperation and Development (OECD) and has signed 27 tax information exchange agreements (TIEAs) with countries including: i) France ii) New Zealand iii) China iv) the United Kingdom and v) the United States;
    6. 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;
    7. There are no legal compulsions to hold annual general meetings. Moreover, the meetings of Directors and Shareholders can take place anywhere in the world;
    8. There are no requirements to file: i) accounts, ii) annual returns, and iii) audit requirements for Bahamas companies. According to Section 67. (1) of the IBC Act, a company shall keep such financial statements, accounts and records as the directors find it essential to reflect the financial situation of the business.
  • Disadvantages of Bahamas company registration

    1. 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;
    2. 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;
    3. Bahamas has no access to Double Taxation Avoidance Treaties because they do not impose any local taxes.

Company registration

  • Time to incorporate: Two weeks
  • Cost to set up: US$10,950
  • Minimum capital: US$0
  • Physical office required: No

Required appointments

  • Shareholders: 1
  • Directors: 1
  • Company secretary: No
  • Resident director: No

Key facts

  • Corporate tax rate: 0%
  • Corporate tax base: Territorial
  • Shelf companies: Unavailable
  • Main company type: IBC

Frequently asked questions
Business set up guide
Visa and migration options
Business set up strategy
Compare global low tax countries
Compare legally tax-exempt companies
Corporate support services

Contact us

For additional information on our company registration services in Bahamas, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Saidolim Kodirov, directly: