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Incorporation >> Incorporation Around the World
Located on the islands of the Bahaman archipelago in the Atlantic Ocean, the island consists of seven hundred islands and territories. The total length of the Bahamas is equivalent to eleven hundred thousand and four square miles. The Bahamas has a total population of three hundred thousand people. English is the national language and the Bahaman dollar, which is equal to the American dollar, is the national currency.
Today, the state of Bahamas has many jurisdictions in the business arena. The Bahamas has more than 16,000 international companies. The Business is not only limited to international but also has 2551 local companies and about 420 businesses run on partnerships with people abroad. An interesting fact to note is that the Bahamas insurance and reinsurance industry has a huge market and is equivalent to other insurance companies such as Lloyds of England and New York.
Bahamas cooperative legislation is based on the act of International Business companies 1989, which was amended thrice: in 1992, 1994 and in the year 2000. The business that is authorized in the Bahamas is any legal business as prescribed by the law. Special licensees will have to be obtained in the case of businesses pertaining to banking, insurance and re-insurance, and trust services.
In the Bahamas, it is strictly prohibited to own property and to carry out transactions with the locals of the town. One of the good things about the Bahamas is that a company is free from all kinds of taxes and duties. The name of the business that you are intending to keep should not be identical or confusing similar with the businesses already in the Bahamas. All the businesses in the Bahamas must have the words Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft mit beschankter Haftung or abbreviations Ltd., Corp., Inc., GmbH, SA, etc. If your business belongs to the family of International Business Company (IBC), you are restricted from using the following words: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other similar words.
The equity capital for each company is declared. There are no requirements on the grounds of obligatory payments or for minimal/maximal establishments. The recommended equity capital is 5000 shares divided by 5000 dollars at the par value of $1. The release of shares is only allowed to registered shares. The share holders' bodies are two, existing as legal as well as natural entities. If you don't want to disclose who owns the business in the Bahamas you don't have to; as the real owner of the business is not registered in the Bahamas.
Features of incorporations in Bahamas
Located on the islands of the Bahaman archipelago in the Atlantic Ocean, the island consists of seven hundred islands and territories. The total length of the Bahamas is equivalent to eleven hundred thousand and four square miles. The Bahamas has a total population of three hundred thousand people. English is the national language and the Bahaman dollar, which is equal to the American dollar, is the national currency.
Today, the state of Bahamas has many jurisdictions in the business arena. The Bahamas has more than 16,000 international companies. The Business is not only limited to international but also has 2551 local companies and about 420 businesses run on partnerships with people abroad. An interesting fact to note is that the Bahamas insurance and reinsurance industry has a huge market and is equivalent to other insurance companies such as Lloyds of England and New York.
Bahamas cooperative legislation is based on the act of International Business companies 1989, which was amended thrice: in 1992, 1994 and in the year 2000. The business that is authorized in the Bahamas is any legal business as prescribed by the law. Special licensees will have to be obtained in the case of businesses pertaining to banking, insurance and re-insurance, and trust services.
In the Bahamas, it is strictly prohibited to own property and to carry out transactions with the locals of the town. One of the good things about the Bahamas is that a company is free from all kinds of taxes and duties. The name of the business that you are intending to keep should not be identical or confusing similar with the businesses already in the Bahamas. All the businesses in the Bahamas must have the words Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Gesellschaft mit beschankter Haftung or abbreviations Ltd., Corp., Inc., GmbH, SA, etc. If your business belongs to the family of International Business Company (IBC), you are restricted from using the following words: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other similar words.
The equity capital for each company is declared. There are no requirements on the grounds of obligatory payments or for minimal/maximal establishments. The recommended equity capital is 5000 shares divided by 5000 dollars at the par value of $1. The release of shares is only allowed to registered shares. The share holders' bodies are two, existing as legal as well as natural entities. If you don't want to disclose who owns the business in the Bahamas you don't have to; as the real owner of the business is not registered in the Bahamas.
