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RELEVANT ELEMENTS OF THE
COUNTRY
» Excellent corporations law
» Flexible corporations law.
» There are no taxes on international or banking
transactions
» There are no foreign currency control regulations
» Political and economic stability
» Service provided by the principal international airlines
» Excellent hotel accommodations
» Excellent international communication systems
» Qualified personnel
» There are no taxes on capital gains or income, or other
type of taxes
COMMERCIAL TRANSACTIONS
The IBC can engage
in any licit business in any country, and carry out transactions in
any currency they choose
DIRECTORS/DIGNITARIES, AND
SHAREHOLDERS
» Shareholders,
directors, and/or dignitaries can be natural or juridical
persons
» Any initial or
present change in directors or dignitaries must be inscribed
in the Bahamian Registry
» Directors can
grant general or special powers of attorney
» Companies are
allowed to have a sole director
» Directors or
dignitaries need not be shareholders
» Shareholders,
directors, and dignitaries can be of any nationality and be
residents of any country
» Shareholders and/or directors meetings can be held in any country and they can participate in same via power of attorney or any electronic media such as telephone, fax, etc.
REGISTRIES
» The books,
registries, and certificates of the company can be kept in any
place or country that the directors choose
» It is not
necessary to neither present nor register annual accounts
REGISTERED OFFICE, CORPORATE
SEAL, AND LEGALIZATION
» It is required
that the Registered Office be located in The Bahamas
» Corporate seal
is obligatory
» The Apostille is
the method usually employed for the legalization of
documents
USE OF INTERNATIONAL BUSINESS
CORPORATIONS OF THE BAHAMAS
» Titleholder of
bank accounts, fix-term deposits, investment
projects, and any other financial or commercial title
» Proprietor of
shares of other corporations or legal entities
» Proprietor of
apartments, houses, buildings, ships and any other assets or
real estate or chattel
» Administrator or
promoter of international commercial transactions
» International
leasing of vehicles, machinery, ships, and other
» Ideal instrument
to give or receive money in loan, pay or receive
commissions, royalties, and other revenues
» Marketing and
promotion of products and services
» Other commercial
and financial activities
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» OFFICIAL LANGUAGE
English
» GOVERMENT
Parliamentary democracy. Member of the British Community of Nations, which recognizes Queen Elisabeth II as chief of state
» STANDARD OF LIVING
High
» BANKING
International banking systems
available.
» CURRENCY
Bahamian dollar,
which is at parity with the dollar of the United States of America
(US$)
» INDUSTRY
Tourism, financial services and small industries.
TAXES
Tax exemption on
any commercial activity or transaction carried out outside The
Bahamas.
AUTHORIZED CAPITAL / SHARES
» Only nominative
shares are allowed
» Non-existence of
minimum or maximum capital requirements
ANNUAL TAX DECLARATIONS
» It is not
obligatory to present annual performance declarations or reports, nor financial
statements
» It is not obligatory to hold general annual shareholders or directors meetings
INCORPORATION AND
ADMINISTRATION
» Ample
availability of company names for incorporations
» Familiarity with incorporation documents (Corporate Charter and By-Laws, and Incorporation Certificate), due to the fact that The Bahamas belongs to the British Commonwealth.
» The words “Limited”, “Corporation”, “Incorporated”, “Société Anonyme”, or “Sociedad Anónima”, or the abbreviations “Ltd.”, “Inc.” or “S.A.”, can be used as part of the name of the company.
» Incorporation
documents can be drafted in any language and accompanied by its English
translation
» Expeditious
incorporation process and simple administration
» Incorporation
process takes 7 days
» The Public
Registry of The Bahamas is equipped with a modern and sophisticated
computer system that increases the speed and efficiency of the
processing of documents
DOCUMENTS KEPT IN THE
REGISTERED OFFICE
» Copy of
Shareholders Registry
» Copy of the
impression of the official seal
COSTS AND HONORARIES
Reasonable
incorporation and maintenance costs
REDOMICILIATION
Corporations of
other jurisdictions can be expeditiously redomiciled to The Bahamas
CORBETTI PEZZOTTI & QUIJANO
REQUIREMENTS
Adequate
references of moral solvency and other due diligence documents, as
required
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