The Commonwealth is a developing state, the economy of which is based on international and
tourism services, banking and foreign investment. The industry is mainly related to cement
production, oil transportation, salt mining, rum production and argonite mining.
English is the state's official language. The Bahamian dollar is established at the national level as the official currency.
The state has an active international policy aimed at integration and the development of relations with other countries. The policy is expressed through the state's membership in a large number of organisations, as well as the conclusion of international agreements and treaties. Member of international organisations: ACP countries, WIPO, WHO, OAS, OPANAL, etc.
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bank account opening
From all the possible types of advantages that open up to the founders when incorporating a company, it is definitely worth noting:
Under current legislation in the Bahamas, it is possible to register your business in the following legal form:
The most common legal form is IBC - International Business Company. An IBC has a number of advantages when conducting business activities. One of the most important things that may affect the choice of this jurisdiction for your business is that a registered offshore company can only conduct business outside the borders of the Bahamas. It should be noted that, in accordance with current legislation, it is forbidden to transfer your office address to third parties for possession or use. This legal entity does not have the right to invest in any form of property located on the islands, with the exception of financing its own office.
Based on an analysis of the current legislation regulating business entities, the following can be said about the company incorporation procedure:
The state has the following taxation features:
No tax requirements for offshore companies in the Bahamas. Moreover, there is no need to file tax returns and annual reports.