Chesterfield (London) - Headquarters
207 Old Marylebone Road
London
NW1 5QP
Tel: +44 (0) 203 771 3853
Fax: +44 (0) 203 771 3856
Email: sales@groupchesterfield.com

Bahamas Benefits

The Bahamas is a long established respected jurisdiction for offshore formation. It has a stable political environment and democracy/government system based on the United Kingdom.

The Bahamas first introduced offshore legislation in 1989. The principal corporate legislation now used is the International Business Companies Act 2000.

Various advantages of these companies include;
- May conduct business anywhere in the world
- Directors do not have to be resident in the Bahamas and can be sole and corporate
- Whilst the name of the director is filed with the registrar and is therefore public the name of the beneficial owner is not
- The paperwork is minimal in the Bahamas with no need to file annual returns or audited accounts.
- The island is English speaking
- A variety of suffixes can be used in company names such as – Limited, Ltd, Corporation, Corp, Incorporated, Inc, Societe Anonyme, SA, Sociedad Anonima, Gesellschaft mit Beschrantker Haftung, GmBH
- It has literally hundreds of banks from more than thirty different countries

The Bahamas also have a number of tax benefits being;
- No corporate tax
- No income tax
- No wealth tax
- No capital gains tax
- No estate tax
- No profit tax
- No sales tax
- No dividends tax
- No withholding tax
- No inheritance tax
- No gift tax

There are exchange controls, but these apply to residents only.

As the Bahamas do not levy direct taxes there are no double tax treaties with other countries although in an effort to comply with OECD standards it has signed tax information exchange agreements with twenty nine other countries including the UK. Whilst there are Mutual Assistance Treaties with the US, Canada and the UK for exchange of information fiscal information is excluded from this and disclosure is limited to criminal matters, tax evasion is not a crime in the Bahamas. Commonwealth judgements have to be enforced in the Bahamas, but revenue matters are excluded.

Whilst in the early 2000 Bahamas were cited by both the FATF and the OCED as having unsatisfactory standards they have sought hard to improve their regulatory regime and are now acknowledged as having a remarkable level of expertise and are in fact assisting these organizations with their evaluation of other counties.

To learn more about incorporation in the Bahamas or any other jurisdiction, please follow the link below or call us on our offices

Telephone Number: 44 20 7097 1385



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