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The Bahamas is an island country on the Atlantic Ocean with the area of 13 880 km2. The country consists of around 700 islands, of which only 26 is inhabited.
The Bahamas is a former British colony which enjoys independence from 1973, remaining, however, a member of the Commonwealth. The official head of state is British Queen Elisabeth II. The Bahamas inherited British legal system based on common law principles with efficient judiciary. The country also has extensive legislation regarding companies that is based on the common law of the former colonists.
The official language is English, and the official currency is Bahamian dollar (BSD), but American dollar is commonly used as well.
The Bahamas is a very popular tourist destination as well as a financial centre with long tradition. The Bahamas is an ideal location for entrepreneurs who want to obtain significant financial benefits while remaining full confidentiality.
The legislation of the small country offers over ten different corporate structures such as companies, foundations and trusts. The most popular structure is International Business Company (IBC) which is a model offshore structure.
International Business Companies (IBCs) operate based on the act of 1989 and International Business Companies Act 2000 and Amendment to IBC Act 2004. Bahamas IBCs can do anything a physical person can. In order to make use of the privileges offered by IBCs, companies have to carry out activity abroad and not cooperate with other entities registered in the Bahamas.
IBCs have simple structure. To set up a company, you only need one director and one shareholder. They may be legal or physical persons. There are no restrictions with regard to residents or foreign companies. Information on shareholders does not appear in the business register and data on them is in custody of a licenced agent who is legally obliged to keep the information confidential. Director names do appear in the public register, but nominee services are allowed here which may be used for increased protection of privacy. Bahamas IBCs do not have to have a secretary.
A company has to have Articles of Association that may be easily modified to adapt the company according to one’s needs and changes, if such take place. The structure of Bahamas IBCs is very flexible.
The standard amount of share capital is 50 000 USD but there are no requirements with regard to minimum or maximum share capital. The following types of shares are allowed in IBCs: registered (no bearer shares allowed), with or without par value, privileged, redeemed, with or without voting rights.
Shareholders’ and board meetings do not have to take place in the territory of the country, there is no obligation to submit annual financial reports either, thanks to which the companies are easy to manage and do not generate big administrative costs.
Every company has to have a unique name, an element of which should be one of the words: Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft, or abbreviation: Ltd, Corp., Inc., S.A., GmbH. Names with the following words are restricted: Assurance, Bank, Building Society, Royal, Trust Company, Trustee Company, etc.
The lawmaker imposed an obligation for every Bahamas IBC to be established by a licenced agent and have its registered office in the territory of the country, managed by an agent.
Bahamas IBCs are exempt from all taxation, i.e. corporate income tax, capital gains tax, inheritance and donation tax. IBCs are exempt from stamp duty as well. The companies are only obliged to pay annual licence fee in the amount of 350 USD (if share capital does not exceed 50 000 USD) or 1000 USD (if share capital exceeds 50 001 USD).
Bahamas IBCs should keep accounting books, yet they are not subject to audit and financial information regarding the company is not made public. Accounting documents may be kept anywhere in the world.
The Bahamas is a country with stable economic situation, where the most important sectors of the economy are tourism (bringing half of the total income), banking, and clothing, jewellery and perfume manufacturing. Extraction of oil, salt (obtained from seawater) and aragonite and processing of the raw materials are also of significant importance to the economy.
The Bahamas is also one of the countries with inexpensive flag, with one of the biggest fleets in the Caribbean. International Business Companies are often used for ship registration.
The main trading partner of the islands is the USA. American space flight centres are located here as well.
The Bahamas is a constitutional monarchy, where the head of state is British Queen Elisabeth II, and power on her behalf is exercised by the Governor-General. The country gained independence from United Kingdom on 10 July 1973. It is a member of the Commonwealth. The political system is based on British constitutional model with separation of powers.
Bank activity was regulated with Banks and Trust Companies Regulations Act 1965, on the basis of which over 400 banks obtained licences. The banking system is efficient and the assets in the accounts are safe. In the islands are located both big, international banks and local banks. As IBC structure is commonly known, it is possible to open bank accounts in various currencies and banks.
All companies are equal before the law.
A good formation agent is what makes a difference.
The Bahamas is a popular international jurisdiction and a strategic destination for company formation and ready-made shelf company acquisition. With a population of 400,000 and ranking as Caribbean financial center, The Bahamas offers a compelling business environment for both local and international entrepreneurs.
Key advantages of establishing a business in The Bahamas include: Zero corporate tax, no income tax, stable political environment, English common law, strong financial sector.
| Feature | Details |
|---|---|
| Capital | Nassau |
| Currency | BSD (Bahamian Dollar, pegged to USD) |
| Corporate Tax Rate | 0% (no corporate income tax) |
| VAT Rate | 10% VAT |
| Company Types | IBC, LLC, Exempted Limited Partnership |
| Minimum Capital | No minimum required |
| Formation Time | 3-5 business days |
| Major Banks | Royal Bank of Canada, CIBC, Scotiabank, Fidelity Bank |
ShelfCompanies24 provides comprehensive company formation and corporate services in The Bahamas. Whether you need a ready-made shelf company for immediate business operations, a newly formed entity tailored to your specific requirements, or assistance with opening corporate bank accounts — our team of experienced specialists is here to help.
The Bahamas stands out among business jurisdictions for several important reasons. The corporate tax rate of 0% (no corporate income tax) is competitive within the region, and the available company types (IBC, LLC, Exempted Limited Partnership) provide flexibility for various business structures and investment strategies.
Company formation in The Bahamas typically takes 3-5 business days, with minimum capital requirements of No minimum required. The country’s banking sector includes major institutions such as Royal Bank of Canada, CIBC, Scotiabank, Fidelity Bank, ensuring reliable access to financial services for your business operations.
Explore company formation and shelf company services in related jurisdictions:
In The Bahamas you can form the following company types: IBC, LLC, Exempted Limited Partnership. The most popular structure for foreign investors is the limited liability company equivalent.
The corporate tax rate in The Bahamas is 0% (no corporate income tax). The standard VAT rate is 10% VAT.
Company formation in The Bahamas typically takes 3-5 business days, including registration with all relevant authorities.
The minimum share capital required in The Bahamas is No minimum required.
Looking for an off-the-shelf company in Bahamas? Our ready-made shelf companies — also known as off-the-shelf companies — are pre-registered entities available for immediate transfer. An off the shelf company provides instant credibility, a clean corporate history, and the ability to start trading immediately without waiting for the incorporation process to complete. ShelfCompanies24 offers off-the-shelf companies in Bahamas with optional corporate bank accounts, registered addresses, and full post-acquisition compliance support.