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The Bahamas

International Business Company (IBC)

General
Type of Company	IBC
Average timeframe to set up a new company	3 - 4 days
Average timeframe to activate shelf company	1 day
Migration of domicile possible?	Yes
Corporate Requirements
Standard authorised share capital	US$ 50,000
Bearer shares allowed?	No
Minimum number of shareholders/members	One
Minimum number of directors	Two
Corporate directors permitted?	Yes
Local directors required?	No
Local meeting required?	No
Company secretary required?	No
Taxation
Corporate tax rate	N/A
Ordinary tax base	N/A
Tax exemptions	N/A
Withholding tax on dividends - tax rate	None
Withholding tax on interest - tax rate	None
Withholding tax on licence fees and royalties	None
Double taxation treaties	None
Value Added Tax rate	N/A
Disclosure and Reporting Requirements
Disclosure of beneficial owner to Company Registrar (secrecy guaranteed by legislation)	Yes
Government register of directors	Yes
Government register of shareholders/members	No
Annual return	No
Submission of accounts	No
Audit required?	No

Incorporation and 1^st Year Fees and Taxes		Annual Maintenance Fees and Taxes
Type of company	IBC		IBC
Incorporation Fee	700
Government Tax	350	Government Tax	350
Domicile Fee²⁾	850	Domicile Fee²⁾	850
Total 1^st Year, USD	1,900	Total Annual Maintenance, USD	1,200
Administration³⁾	800	Administration³⁾	800
Director's Fee⁴⁾	1,800	Director's Fee⁴⁾	1,800

Note: all fees are quoted in United Stated Dollars (US$). Currency Converter

²⁾ Provision of registered office/agent, statutory filings and notices

³⁾ Minimum annual fee for professional offshore administration, if required. Actual fee will depend on the work involved.

⁴⁾ Minimum fee for a professional director resident in a no-tax jurisdiction, if required. Actual fee will depend on the work involved. Two directors are required. Directors do not have to be resident in The Bahamas. Corporate directors allowed.

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