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The Bahamas Reference Guide
| Currency |
Bahamas dollar
(B$1 = US$1 ) |
| Language |
English |
| Legal system |
English Common Law |
| Tax Regime |
No personal or corporate income tax, no capital gains tax, no gift, estate or inheritance tax |
| Exchange Controls |
Not for non-residents |
| Forced Inheritance |
No |
| Banking Licenses |
Restricted: may carry on business solely with, or for persons specified in the license.
Unrestricted: may carry on business with all of the public, including some clearing agents |
| Business structures |
Annuities, Captive Insurance, International Business Companies, Trusts, Limited Partnerships, Limited Liability Companies and Private Investment Funds. |
| Trust Structures |
International trusts |
| IBC Features |
Incorporation within 24 hours, or less in urgent cases
No minimum capital requirements.
Only one Director or registered agent required either an individual or a corporation.
Only two shareholders required, with shares issued in registered form or issued to bearer, with and without par value.
Exempt from all Bahamian taxes and stamp duties for 20 years.
Exempt from Exchange Control regulations in The Bahamas.
No requirement for filing of Annual Reports.
Names of directors, officers and shareholders need not be registered.
Note: IBCs may not provide banking, trust or insurance services. |
| Tax Treaties |
None |
| Time zone |
EST or GMT -5 |
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