Bahamas Offshore Company Incorporation
A company for international trading or investment is incorporated under the International Business Act 2000 as amended in 2001. An IBC is not permitted to trade or hold land in the Bahamas and for this purpose a company incorporated under the Companies Act 1992 may be used
Bahamas Company Formation
In order to incorporate a company in the Bahamas, a Memorandum of Association must be filed with the Registrar General. Articles of Association may be filed with the Memorandum of Association or within six months thereafter and must be signed and witnessed by one other person. Other provisions require:
- The memorandum to be signed by at least two subscribers in the presence of at least one witness
- Each subscriber must subscribe for at least one share
- A non-resident subscriber or nominee is required in order to obtain exchange control permission
- The capacity of persons incorporating is to be submitted with the Memorandum in the form of a declaration signed by counsel and attorney
- The extent to which the liability of the shareholders or members is limited
General Requirements for All Companies in the Bahamas
All companies are required to file names of officers, directors and managers; location of the registered officer; and an annual return stating whether or not 60% of the shares are beneficially owned by Bahamians. Banks must publish annual statements showing their true financial position. Every company having its capital divided by shares is required to file with the Registrar General an annual return with the following information:
A list of members, stating the names, addresses and occupations of all members mentioned, the number of shares held by each, and those who have ceased to be members;
- The amount of the company's capital and the number of shares into which it is divided
- The number of shares taken from the formation of the company up to the date of the summary
- The amount of calls made on each share, the total amount of calls received, the total number of calls unpaid, and the total number of shares fortified
- The registered number of the company
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