The standard authorised capital is USD 50,000 and minimum paid up is USD 1. The share capital may be expressed in any currency.
Classes of Shares Permitted: Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights. Bearer shares are not permitted.
Only one director of any nationality is required. There is no requirement for a local resident director. The names of directors do not appear in public records.
Only one shareholder of any nationality is required. The sole director can be the same as the sole shareholder.
Disclosure of Beneficial Ownership to Government Authorities. Details are disclosed to the Registered Agent but are not publicly available.
Companies in the Bahamas are totally tax exempt, guaranteed by law for 20 years from the date of incorporation. This includes no taxes on dividends, interest, royalties, rent, compensation, income, inheritance, etc .
In the Bahamas, the fiscal year runs from July 1 to June 30. - There are no requirements to file company financial statements. There is no requirement to produce or file an annual return.
The International Companies Act 2000 makes no specific reference to a company secretary, but one is normally appointed to facilitate signing obligations. We can provide this service.
Double Taxation Agreements:
The Bahamas has no double taxation treaties.