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The Bahamas
| INCORPORATION DATASHEET | |
|---|---|
| Method of incorporation / registration: | The Memorandum and Articles of Association must be signed by the subscribers. The subscribers must be local persons licensed for the purpose. The minimum number of subscribers is 2. |
| Company form: | International Business Company (I.B.C.). |
| Source of corporate legislation: | Common Law - International Business Companies Act, 1989., amended 2000 |
| Possible suffixes to company name: | Ltd., Limited, Incorporated, Inc., S.A., Corp., Corporation. |
| Restrictions on company name: | The terms Bank, Insurance, Chamber of Commerce, University, Trust, Saving Municipal may not appear in the company name without prior consent or license. |
| Time required for incorporation: | 2-3 weeks |
| Number of directors: | Minimum 1 of any nationality |
| Number of shareholders: | Minimum 1 |
| Capitalisation: | No minimum |
| Accounting / reporting requirements: | Not applicable. |
| Type of shares: | Registered |
| Annual tax and duties: | Minimum 350 USD if the authorized capital less than 50 000 USD |
| Information publicly available: | Registered office and registered agent, directors, shareholders. |
| Disclosure of beneficiaries: | Required |
| Registered office: | Local registered office is required by law. |
| Registered secretary / agent: | Local registered agent is required by law. |
| Double tax treaty: | Bahamian IBCs are not subject to DTTs. |
| FORMATION FEES | |
|---|---|
| Incorporation fee: | 395 USD |
| Notarial certification: | 160 USD |
| International authentication (Apostille): | 160 USD |
| Legal expenses, filing fees and stamp duties: | 110 USD |
| Issuing of share certificates and initial minutes and forms: | 70 USD |
| Corporate seal: | 50 USD |
| Courier fees: | 50 USD |
| Subtotal: | 980 USD |
| ANNUAL FEES* | |
| Registered office and registered agent: | 890 USD |
| Annual tax and duties: | 350 USD |
| Subtotal: | 1240 USD |
| Total: | 2220 USD |
*The annual fees for the first calendar year of existence of the company are payable in full prior to registration, regardless of the actual date of formation of the company. The amount of 1240 USD, therefore, must be paid both by a company registered in January and also by a company registered in December, and in both cases the amount includes only the annual fees for the calendar year in which the company was formed. Subsequently, the amount of 1240 USD is payable annually, beginning from January 1 of the year following the year in which the company was formed. Non-payment of the annual fees results in the company being struck off the Company Register.
The amount of 2220 USD includes the following services: formation of the company, duties payable to the local authorities for the registration of the company, provision of registered office and registered agent and payment of annual tax for the calendar year in which the company was formed, luxury leather corporate kit containing Certificate of Incorporation with Apostille, Memorandum & Articles of Association authenticated by Registrar, Appointment of First Directors with Notary Public authentication, share certificates, initial forms and minutes, 2 company seals and postage of the documents to Budapest. The price contains no hidden costs!
| OPTIONAL COSTS | |
|---|---|
| Nominee Director (private person): | 690 USD |
| Nominee Director (corporate body): | 495 USD |
| Nominee shareholder: | 290 USD |
| Power of Attorney with Notarial Certification: | 390 USD |
| Notarial Certification or Apostille: | 160 USD |
| Certificate of Good Standing: | 430 USD |