Bahamas Offshore Business Compliance Guide for 2025
Introduction The Bahamas has long been a premier offshore business destination, offering a tax-neutral…
Bahamas Company Formation
Register a company in the Bahamas in 2-3 days with tax advantages, asset protection, and expert support for a smooth incorporation process.
Benefits
Register a Company in the Bahamas
No income, corporate, VAT, or wealth taxes are levied.
International Business Companies (IBCs) are not subject to exchange control regulations.
The Bahamas offers a high level of corporate privacy. Companies are not required to disclose shareholder names to the public or file annual reports.
The incorporation process is straightforward and can be completed quickly.
Directors and shareholders do not need to reside in the Bahamas, and companies can be wholly foreign-owned.
Companies in the Bahamas have flexible rules for appointing directors, with no requirement for resident directors or a company secretary.
Bahamas Company Formation Packages
Basic
US$1090
- • Unlimited Name Availability Check: Ensure your chosen company name is unique and available.
- • Document Preparation and Filing: All necessary documentation is prepared and submitted on your behalf.
- • Expedited Incorporation Process: Company incorporation completed efficiently.
- • One Year of Secretarial Services: Comprehensive company secretarial support for one year.
- • One Year Registered Agent and Address: Provision of a local registered agent and address for one year.
- • All Government Fees Included for One Year: Covers all government-related fees for the first year.
- • Digital Corporate Documents: Receive all essential corporate documents in digital format.
This package provides all the necessary services for a foreigner to establish a new Bahamas International Business Company (IBC) from start to finish.
Standard
US$1190
- • Everything in the Basic Package: Includes comprehensive services for setting up a Bahamas International Business Company (IBC).
- • Bank Account Opening: Assistance with opening a bank account.
- • One-Time Application Fee: Covers the application fee for one bank account.
- • Bank Account Introduction: Introduction service to any bank on the supported list.
- • Certificate of Incumbency: Provided if required.
Premium
US$1250
- • Everything in the Standard Package: Includes all the comprehensive services provided in the standard package.
- • Premium Banking Support: Enhanced support for bank account services.
- • One-Time Application Fee: Covers the application fee for up to 5 banks or until the account is successfully opened, whichever comes first.
- • Consulting on Alternatives: Expert advice on suitable alternatives if the initial application is not approved.
- • Remote Bank Account Opening: Facilitates opening a bank account remotely.
- • Fast Response: Prompt assistance available even on weekends.
- • Frequent Updates: Regular updates on the bank account opening process to keep you informed.
Offshore Company Incorporation Process
KYC Documents Checklist
KYC documents are essential to verify the identity of individuals and corporations when you register a company in the Bahamas. Below, you’ll find a list of the required documents.
The following proofs are required for all company members including Directors, Shareholders, Ultimate Beneficial Owners (UBOs), and Contact persons.
- A certified true copy (scanned version) of the passport (valid for at least 6 months)
- A certified true copy (scanned version) of driver's license or national ID
- Bank reference letter & professional reference letter (minimum 3-year relationship), must be dated within the last 6 months and include the contact details of the issuer
- A Curriculum Vitae (C.V.), resumé, or LinkedIn profile
In order to register a company in the Bahamas, it is necessary to provide company documents and proof of identity for its members.
Register a Company in the Bahamas with OVZA
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Frequently Asked Questions
How do I register an offshore company in the Bahamas?
To register an offshore company in the Bahamas, you must select a unique company name,
appoint at least one director and one shareholder, and submit the necessary incorporation
documents to the Registrar General’s Department. The incorporation process typically takes two
to five business days if all documents are in order. Offshore companies must also have a
registered agent and office in the Bahamas.
What are the benefits of registering an offshore company in the Bahamas?
The Bahamas offers a tax-neutral environment with zero corporate taxes, strong privacy
protections, and a stable political climate. Offshore companies enjoy full foreign ownership, no
exchange controls, and minimal reporting requirements. The jurisdiction has a well-developed
financial services sector and a legal system based on English common law, providing a reliable
framework for business operations. The country’s banking infrastructure is internationally
recognized, offering a wide range of financial services tailored to offshore businesses.
What type of offshore companies can be formed in the Bahamas?
The most common structure is the International Business Company (IBC), governed by the
International Business Companies Act. IBCs are widely used for international trade, investment
holding, asset protection, and wealth management. Other structures include Limited Liability
Companies (LLCs) and Exempted Limited Partnerships (ELPs), each designed to meet different
business and investment needs.
What documents are required to register an offshore company in the Bahamas?
To incorporate an IBC, the necessary documents include a copy of the passport for each
director and shareholder, proof of address such as a utility bill or bank statement, details of the
company name and business structure, and the Memorandum and Articles of Association. The
company must also maintain a registered agent and office within the Bahamas as per the
requirements of the Registrar General’s Department.
Do Bahamas offshore companies have to pay taxes?
International Business Companies in the Bahamas benefit from a complete tax exemption,
including no corporate income tax, capital gains tax, or withholding tax. This tax-free status is
guaranteed under the International Business Companies Act, making the Bahamas one of the
most tax-efficient offshore jurisdictions. However, offshore businesses should remain compliant
with tax laws in their home country.
Are bearer shares permitted in the Bahamas?
No, bearer shares are not permitted in the Bahamas. All shares must be registered in the name
of the shareholder to ensure transparency and compliance with international financial
regulations such as the OECD Common Reporting Standard (CRS) and anti-money laundering
(AML) requirements.
What is the renewal process for an offshore company in the Bahamas?
An offshore company must renew its registration annually by paying the government renewal
fee and ensuring compliance with local regulations. This includes maintaining a registered agent
and office in the Bahamas. The renewal process is overseen by the Registrar General’s
Department, which ensures that companies remain in good standing.
Does the Bahamas impose taxes on offshore companies?
No, offshore companies in the Bahamas are fully exempt from corporate tax, income tax, capital
gains tax, and inheritance tax. This tax-free status is a key advantage of incorporating in the
Bahamas, attracting international investors and businesses seeking asset protection and wealth
management solutions.
Are there foreign currency restrictions in the Bahamas?
There are no foreign currency restrictions in the Bahamas, allowing offshore companies to
conduct transactions in any currency without limitations. The Bahamian dollar is pegged to the
US dollar, which is widely accepted in the country, ensuring a stable financial environment for
international businesses.
What are the annual compliance requirements for a Bahamas IBC?
A Bahamas IBC must renew its registration each year, maintain a registered agent and office
within the Bahamas, and keep internal financial records. Unlike domestic companies, offshore
companies are not required to file financial statements or undergo audits unless they engage in
regulated activities such as banking or insurance. The regulatory framework ensures that
businesses remain compliant while minimizing bureaucratic burdens.
Is there a requirement to file annual financial statements?
No, offshore companies in the Bahamas are not required to file annual financial statements.
This significantly reduces ongoing compliance obligations and administrative costs. However,
companies are encouraged to maintain internal financial records to meet potential regulatory
requirements, particularly if they engage in international transactions or banking activities.
Is it possible to open an offshore bank account for a Bahamas IBC?
Yes, a Bahamas IBC can open offshore bank accounts in international financial centers such as
Switzerland, Hong Kong, Singapore, and the Caribbean. The Bahamas itself is home to a robust
banking sector that caters to offshore companies, offering multi-currency accounts, online
banking, and strong confidentiality protections. The Central Bank of the Bahamas regulates
financial institutions to ensure stability and security.
What documents are required to open a bank account for a Bahamas offshore company?
Most banks require a Certificate of Incorporation, the Memorandum and Articles of Association,
a resolution appointing authorized signatories, passport copies of directors and shareholders,
proof of address, and a business plan or nature of business statement. Additional compliance
documents may be required depending on the bank’s jurisdiction and regulatory policies.
Banking institutions follow Know Your Customer (KYC) and anti-money laundering (AML)
regulations as mandated by the Central Bank of the Bahamas.
Can a Bahamas IBC open a bank account remotely?
Yes, many offshore banks allow Bahamas IBCs to open accounts remotely without requiring a
physical visit. The process varies by bank but often involves submitting notarized or apostilled
documents, video verification, or an introduction from a corporate service provider. Some banks
may also require a reference letter from an existing financial institution to complete the
onboarding process.
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