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 1st 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 1st 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. Offices and Representatives Worldwide