Essential Features Of A Bahamian IBC
May be incorporated in 24 hours.
Corporate documents filed at incorporation only disclose the IBC’s registered office, registered agent and the two subscribers to the company.
The identity of beneficial owners, shareholders, directors and officers of the company is not required to be filed with the regulators.
An IBC is exempt from any form of taxation in the bahamas for 20 years from the date of incorporation and is not subject to exchange control regulations.
Government fees are among the lowest of the leading offshore jurisdictions.
Only one director is required who may be an individual or corporation. There is no specific requirement for holding directors meetings which can be held anywhere in the world, and by telephone or other electronic means.
Capital requirements are extremely flexible. There is no minimum and an IBC may redeem or purchase its own shares at any time which may be any denomination or currency, with or without par value.
There is no requirement for a yearly audit and there is no requirement to file financial statements with regulators.