What are the problems of setting up a Bahamas company?

A Bahamas company is seen as an offshore tax neutral jurisdiction.

How difficult is it to open a corporate bank account for a Bahamas business?

It is easy to open a corporate bank account with a reputable international bank in the Bahamas.

Am I required to visit Bahamas to incorporate a company there?

No. Healy Consultants can legally incorporate your Bahamas company without you needing to travel.

What is the minimum number of directors required?

In order to form an IBC in Bahamas company, a minimum of one director is required, who need not by resident. A registered agent is required.

Can my company be 100% foreign-owned?

Foreigners can own 100% of a non-resident company (one not trading within the Bahamas). Foreign ownership is also permitted for resident companies except for a small number of business sectors.

What is the minimum number of shareholders required?

A Bahamas local domestic company (LDC) requires a minimum of two shareholders while an international business company (IBC) requires a minimum of one.

Are shareholder/director details available for public viewing?

No, shareholder and director details are not available for public viewing.

What are the minimum capital requirements?

A Bahamas company does not require a minimum share.

Is a Bahamas company required to submit an annual return and/or financial statements?

A Bahamas business is not obliged to submit an annual return and/or financial statements, unless specified in the articles of association.

Interesting facts about the Bahamas in 2024

Bahamas is a North American country, which comprises of an archipelago of 700 islands;
The name of the country comes from the Spanish word ‘bajamar’, meaning ‘shallow water’;
The official language spoken in the country is English and the currency, the Bahamas dollar is at par with the US dollar;
Around 50% of the national GDP is generated by tourism. It is one of the wealthiest countries in the Caribbean. After tourism, financial services constitute the second-most important sector of the Bahamian economy;
There is no legal drinking age in the Bahamas;
School attendance in Bahamas is compulsory between the ages of 5 to 16;
Conch, among other foods, especially sea food, is a staple food in the Bahamas;
Dean’s Blue Hole on Long Island, Bahamas is the world’s deepest blue hole.