Location Atlantic ocean , 50 miles south-east of Florida
Population 305,000
Native language English
Currency Bahamian dollar, has parity with US$
Political status/Constitution The Queen of England is the Head of State, represented by a Governor-General. Uses the Westminster model, with an elected House of Assembly. Members of the Senate (upper house) are appointed, by the Governor on the recommendation of the Prime Minister and Leader of the Opposition
Banking & professional facilities Has a full compliment of banking institutions from the major OECD countries
Legal system Judiciary. English common law. Highest local court is the Supreme Court, with Court of Appeal. Final appeals to the Privy Council in London
Offshore specialities/expertise Bahamas offers a full range of financial services and products. Specialises in private wealth management, trusts, asset protection, e-commerce, insurance, and maritime registry

Income tax
resident Nil
non-resident Nil
resident Nil
non-resident Nil
Estate duty No
Withholding taxes No
Exchange controls
resident Nil
non-resident Nil

Are trusts permitted? Yes
Perpetuity period Yes, one life in being plus 80 years
Accumulation period No
Statutory trust law Trustee Act 1998
Trust duty No
Forced heirship exclusion Yes
Asset protection measures Yes
Trust register No
Resident trustee/s required No
Regulation of trustees Yes

Type of corporate vehicles International Business Companies (IBC) and Domestic Companies
Incorporation time scale 5 working days
Fees: Incorporation - Government Domestic Company:
a) Stamp Duty: Share capital $5,000 or less - $60; share capital of 55001 and above - an additional duty of $3/1,000;
b) registration fees $330 c) certified copies of Memorandum and Articles of Association - $60 IBC: a) registration fees $330; b) certified copies of the Memorandum and Articles of Association - $60
Other Domestic Company: $750 to $1,200; IBC: $500 to $1,500
Annual - Government IBC $350; LLC 60% or more Bahamian $350; LLC less than 60% Bahamian $1,000
Fees: Other N/A
Resident directors required No
Min number of directors required One
IBC one
Domestic Company two
Directors meetings required Yes, but can be held by telephone
Location No requirement to hold meetings in the Bahamas
IBC Whenever deemed necessary
Domestic Company Annually
Beneficial ownership disclosure No
Shareholder disclosure No
Minimum number of shareholders
IBC one
Domestic Company two
Bearer shares allowed No
No-par value shares allowed Yes
Public share register No
Shareholders meetings required Yes
IBC can be held by telephone, whenever deemed necessary
Domestic Company once a year
Annual return required
Domestic Company Yes
Audit required No
Foreign currency accounting allowed Yes
Registered office Yes
Registered agent
Domestic Company No
Stamp/capital duty
Domestic Company Yes (see above)
Naming your company Prohibited names: Assurance; Bank; Building Society; Chamber of Commerce; Chartered; Cooperative; Imperial; Municipal; Royal; (for IBC Trust' also). Names must end with an appropriate suffix
Company mobility provisions/redomicility rules IBC -
provided for under the Act