Opening Business Company in The Bahamas
Incorporation Process

Opening Business Company in The Bahamas involves several steps, including selecting the appropriate company structure, preparing and submitting necessary documents, and complying with legal requirements.

Below is a step-by-step guide to the registration process:

1. Choose the Type of Company

International Business Company (IBC): The most common form for foreign investors, designed for international trade, investment, and holding purposes.
Limited Liability Company (LLC): Suitable for smaller businesses and those requiring a flexible management structure.
Company Limited by Shares: Often used for larger commercial operations.
Other Structures: Consider other forms like Exempted Limited Partnerships (ELPs), Segregated Accounts Companies (SACs), or Private Trust Companies (PTCs) based on your business needs.

2. Select a Company Name

Name Availability Search: Conduct a name search through the Registrar General’s Department to ensure your desired company name is unique and not already registered.
Name Reservation: You can reserve the company name for up to 90 days while you complete the incorporation process.

3. Appoint Directors and Shareholders

Minimum Requirements: Appoint at least one director and one shareholder (who can be the same person or entity).
Prepare Consent: Obtain the consent of the individuals or entities you are appointing as directors and shareholders.

4. Draft and Execute the Memorandum and Articles of Association

Memorandum of Association: This document outlines the company’s name, registered office, objectives, and capital structure. It must be signed by the initial shareholders.
Articles of Association: This document details the rules governing the company’s internal management, including the rights and responsibilities of directors and shareholders.

5. Registered Office and Agent

6. File Incorporation Documents

Submit to the Registrar General’s Department: The following documents must be filed with the Registrar:
Memorandum and Articles of Association.
Details of the directors, shareholders, and registered office.
A declaration of compliance signed by the registered agent or an attorney.

7. Payment of Fees

Government Filing Fee: Pay the required government incorporation fees, which vary depending on the type of company and the authorized share capital. For an IBC, the standard fee is typically based on an authorized capital of up to $50,000.
Business License Fee: After incorporation, apply for a business license and pay the associated fee, which is generally based on the company’s anticipated revenue.

8. Receive the Certificate of Incorporation

Certificate Issuance: Once all documents are filed and fees are paid, the Registrar General’s Department will issue a Certificate of Incorporation, officially recognizing the company as a legal entity in the Bahamas.

9. Post-Incorporation Requirements

Register with the National Insurance Board (NIB): If the company has employees, it must register with the NIB and comply with employment-related contributions.
Open a Bank Account: Set up a corporate bank account in the Bahamas or another jurisdiction for operational and transactional purposes.
Maintain Company Records: Keep accurate financial and operational records, including meeting minutes, shareholder registers, and accounting records.

10. Ongoing Compliance

Annual License Renewal: Renew the company’s business license annually, which involves paying a fee and submitting any required documentation.
Annual Returns (if applicable): Although not required for all types of companies (like IBCs), certain entities may need to file annual returns or financial statements depending on their activities.
Maintain UBO Records: Keep records of Ultimate Beneficial Owners (UBOs) updated and accessible to the registered agent and, if necessary, regulatory authorities.

Incorporating a company in the Bahamas is a straightforward process, particularly for International Business Companies (IBCs). The process involves selecting a company name, appointing directors and shareholders, preparing necessary documents, and submitting them to the Registrar General’s Department.

Once the incorporation is complete, companies must comply with ongoing obligations, including maintaining records, renewing licenses, and ensuring tax compliance where applicable. The process is designed to be efficient, providing a favorable environment for international business.

Incorporating a company in the Bahamas provides flexibility and confidentiality, with minimal requirements for directors and shareholders. No residency is required for directors or shareholders, and UBO information is kept confidential, accessible only to regulatory authorities when necessary. The lack of a minimum share capital requirement further simplifies the incorporation process, making the Bahamas an attractive jurisdiction for international business activities.

Company Incorporation in The Bahamas?
Why Choose TBA & Associates

Advantages of engaging TBA & Associates for company registration, formation, and incorporation services in the Bahamas include:

Comprehensive Service Range
TBA & Associates offers a complete spectrum of legal, corporate, government, and business services in the Bahamas. Our services include comprehensive legal support throughout the company registration process, securing a legal address, liaising with official government authorities, handling state fees, providing a legal address for the company for a year, producing and registering company stamps, and guiding clients through the registration process. Details about opening a bank account and associated costs are discussed during consultations.

Legal Expertise
We boast worldwide registration and legal maintenance of companies, along with accounting services, audit support, tax planning and optimization, and trademark and patent registration. TBA & Associates guarantees the provision of excellent company incorporation services to its clients.

Complimentary Initial Consultation
Clients benefit from a free consultation with TBA & Associates Business Development Managers. This involves discussing strategies or service provisions, analyzing legal positions, and developing solutions for issues raised by clients in the Bahamas.

Confidentiality Assurance
TBA & Associates safeguards the records and details of every client, ensuring utmost confidentiality.

Efficiency and Productivity
We strategically deliver personalized, up-to-date services to enhance the success of your business.

Contact us to learn more about establishing a company in the Bahamas. Our dedicated team of consultants will respond within 24 hours.

Contact Us

For any matter you may need to discuss or clarify, in terms of the suitable package and services you may need to register your company, please do not hesitate to contact us. Our Business Manager allocated to your own file will get promptly in touch with you.