The Bahamas, officially the Commonwealth of The Bahamas, is a country consisting of 29 islands, 661 cays, and 2,387 islets (rocks). It is located in the Atlantic Ocean north of Cuba and Hispaniola (Dominican Republic and Haiti), northwest of th eTurks and Caicos Islands, and southeast of the United States (nearest to the state of Florida). Its total land area is 13,939 km2 (5,382 square miles), with an estimated population of 330,000. Its capital is Nassau. Geographically, The Bahamas lie in the same island chain as Cuba, Hispaniola and the Turks and Caicos Island; the designation of Bahamas refers normally to the commonwealth and not the geographic chain.
Key Corporate Features
- At least 1 Director, whether an individual or a company.
- No restriction on the nationality of the Director.
- At least 1 Shareholder, whether an individual or a company.
- No restriction on the nationality of the Shareholder.
- Share Capital
- Minimum paid-up capital is USD1.
- Standard authorized capital is USD50,000.
- The Bahamas is a pure tax haven and has no direct taxation in the form of income tax, capital gains tax, gift tax or inheritance tax.
- The Bahamas is not a party to any double tax treaties.
- Reporting Requirement
- There is no requirement to file audited accounts and annual return with the authorities.
- Time Taken to Incorporate
- About 10 days