The Commonwealth of the Bahamas is a tax free English speaking jurisdiction in the Caribbean. It is a stable, independent sovereign country, with a democracy and government/judicial system modeled on the United Kingdom.
The Bahamas has a population of about 340,000 living on a chain of 700 islands; but most of the population live on about 30 major islands. Approximately half of the population lives on New Providence, which is the site of the capital city of Nassau. The second largest city Freeport is on Grand Bahamas, less than 60 Km east of Miami.
The Bahamas has a long history as a major offshore financial center. The Bahamas offshore company is governed by the International Business Companies Act, 2000 (as amended) and is fully tax free in the Bahamas. The Bahamas also has no income tax, capital gains tax, withholding tax, gift tax or inheritance tax.
The Bahamas IBC legislation is similar to that of the British Virgin Islands.
Offshore companies registered in the Bahamas are tax free and there is no requirement to file annual returns or audited statements. A Bahamas IBC may do business anywhere in the world and there is no requirement for the Director(s) to be resident in the Bahamas.
Unlike most other jurisdictions, a Bahamas IBC may do business locally and may own local real estate. Any such local transactions however, are subject to exchange controls and stamp duty. Business conducted by the Bahamas IBC outside of the Bahamas is exempt.
There are additional government fees for high capitalization (over US $50,000.00).
Only one Director and one shareholder is required. The name of the Director(s) is filed with the Registrar, and is available to the Public; the name of the Beneficial Owner is not.
Bearer shares are not allowed.