Bahamas Company Registration | Set Up an Offshore IBC Company in the Bahamas
Planning Bahamas company registration or setting up a Bahamas offshore company? The most common offshore entity in the Bahamas is the international business company (IBC) formed under the International Business Companies Act (Chapter 309). It must be registered with the Registrar General’s Department through a licensed financial and corporate service provider. Shareholders and directors can be foreign individuals or foreign companies, and 1 director is the minimum.
Under the First Schedule of the Act, the incorporation fee for an IBC with authorized capital of $50,000 or less is $400, and the government annual tax is $350 a year (the Bahamian dollar is at par with the US dollar). Under section 187, an IBC is exempt from income tax and corporation tax, but it must keep accounting records for at least 5 years and handle economic substance and beneficial ownership reporting as required. NSS Group (戰國策集團) offers a one-stop Bahamas company registration service, from structure assessment and introductions to licensed service providers to document preparation, bank account opening and annual maintenance, so companies and individuals can set up a compliant Bahamian company.
The Bahamian dollar is at par with the US dollar. IBC incorporation fees and the government annual tax are calculated in US dollar equivalents, and international payments and quotes are made in US dollars.
A Bahamian IBC’s shareholder records are kept by the company and its registered agent. However, the company must keep accounting records and supporting documents for at least 5 years, beneficial ownership information must be reported as required, and the authorities can request it by law. Plan a Bahamian company as a compliant structure, not as a secrecy tool.
Under section 187 of the International Business Companies Act, an IBC and its shareholders pay no income tax, corporation tax, capital gains tax or other taxes on income or distributions, and its shares are free of estate, inheritance and gift tax. This does not apply to IBCs owned by Bahamian residents, and multinational groups with annual revenue of EUR 750 million or more are also subject to the domestic minimum top-up tax.
The Bahamas has a full supervisory regime for banks, trusts and corporate service providers. IBCs must be formed and maintained through licensed service providers, which suits holding structures that work alongside trusts or asset management.
Under section 40, an IBC needs only 1 director, who can be an individual or a company, and shareholders and directors can be of any nationality. The company must keep accounting records from which financial statements can be prepared, and pay the government annual tax each year.
company registration?
As an offshore structure, a Bahamian company’s features come mainly from the International Business Companies Act and the financial services regime:
Bahamas company registration must be handled by a licensed financial and corporate service provider (or a licensed bank or trust company), and documents can be prepared remotely.
NSS Group connects you with a licensed Bahamian service provider, prepares shareholder and director documents, and plans the government annual tax, accounting records, economic substance and beneficial ownership reporting after formation, so your Bahamas offshore company stays clear and compliant from setup to annual maintenance.
Under section 4 of the International Business Companies Act, apart from licensed banks or trust companies, only firms licensed under the Financial and Corporate Service Providers Act can form an IBC. The company must also have a registered agent and a registered office in the Bahamas.
The service provider checks and reserves the name with the Registrar General’s Department. The name reservation fee is $25 ($50 for a bilingual name).
Under Bahamian anti-money laundering rules, directors, shareholders and beneficial owners must provide passports, proof of address and other documents, and explain the nature of the business and the source of funds. The exact documents depend on the service provider’s requirements.
The service provider prepares the Memorandum and Articles, which set out the authorized capital, shares and governance rules. Whether authorized capital exceeds $50,000 determines the fee and annual tax band.
The service provider files the documents with the Registrar General’s Department and pays the incorporation fee ($400 or $1,200, plus $450 for express incorporation), and a certificate of incorporation is issued. After that, the company pays the government annual tax of $350 or $1,000 each year and keeps accounting records.
service
- Company name search and reservation
- Preparation and filing of registration documents
- Drafting the articles of association
- Collection of the registration certificate
- Offshore company banking and OBU options
- Account opening document preparation
- Appointment booking and accompaniment
- Post-opening support
- Registered address
- Company secretary appointment
- Annual filing services
- Document safekeeping and management
- Bookkeeping
- Tax filing and planning
- Financial statement preparation
- Audit arrangement
- Trademark search and assessment
- Trademark application filing
- Trademark maintenance and renewal
- Infringement protection advice
- Company change filings
- Share transfer support
- Company deregistration
- Legal advisory support
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- Structure assessment and name check
- Introduction to a licensed Bahamian service provider
- Memorandum and Articles drafting
- KYC document preparation and incorporation filing
- First-year registered agent and registered office
Official Bahamas incorporation fee of $400 (capital of $50,000 or less) or $1,200 (above), and government annual tax of $350 or $1,000 a year. Licensed service provider and advisory fees are quoted by structure and scope. See the fee breakdown below; there are no hidden fees.
Bahamas company formation cost: fee breakdown
The total cost of setting up a Bahamian company is made up of official Bahamian fees, the licensed service provider's (registered agent's) fees and annual maintenance. The official fees in the First Schedule of the International Business Companies Act (Chapter 309) are listed below so you can check each line when you compare Bahamas offshore company quotes. The Bahamian dollar is at par with the US dollar.
| Item | Cost | Notes |
|---|---|---|
| International business company (IBC) incorporation fee (capital of $50,000 or less) | $400 (one-time) | Paid to the Registrar General's Department under the First Schedule. |
| Incorporation fee (capital above $50,000) | $1,200 (one-time) | Most Bahamian holding or trading companies set authorized capital at $50,000 or less. |
| Express incorporation (within 1 hour) | Extra $450 | Charged on top of the incorporation fee above. |
| Name reservation | $25 | $50 for a bilingual name; $30 to extend the reservation. |
| Government annual tax | $350 / $1,000 | $350 for capital of $50,000 or less, $1,000 above. Under section 176, a 10% penalty applies if unpaid by March 31, rising to 50% if still unpaid by October 31, and a company still unpaid by year-end after notice is struck off. |
| Licensed service provider and registered office | Quoted by service | A Bahamian IBC can only be formed by a licensed financial and corporate service provider or a licensed bank or trust company, and it must have a registered agent and registered office in the Bahamas. |
| NSS Group advisory fee | Written quote after a free assessment | Based on shareholder structure, number of directors, whether you need a bank account and home-country tax planning. Every item is listed, with no hidden fees. |
Official fees are based on the First Schedule of the International Business Companies Act (Ch. 309, LRO 1/2017 edition) on the Bahamas laws website. The latest notices from the Registrar General's Department prevail.
Bahamas company tax and compliance: tax-exempt does not mean filing-exempt
A Bahamian IBC is exempt from income tax and corporation tax by law, but it still has yearly obligations such as the government annual tax, accounting records and economic substance. Shareholders should also check their home country's controlled foreign company (CFC) rules.
| Item | Rule | Notes |
|---|---|---|
| Income tax, corporation tax, capital gains tax | Exempt | Under section 187 of the International Business Companies Act, an IBC and its shareholders pay no business license fee, income tax, corporation tax, capital gains tax or other taxes on income or distributions. This does not apply to IBCs owned by Bahamian residents. |
| Estate, inheritance and gift tax, and stamp duty | Exempt (with exceptions) | The same section exempts IBC shares from estate, inheritance or gift tax, and related transactions are generally exempt from stamp duty. This does not apply to Bahamian residents. |
| Value added tax (VAT) | Standard rate 10% | The Bahamas cut VAT from 12% to 10% from January 2022. It applies to taxable transactions in the Bahamas; an IBC that does not do business locally is usually not affected. |
| Global minimum tax (DMTT) | Applies to large multinational groups | Under the Domestic Minimum Top-Up Tax Act 2024, it applies only to multinational groups with annual revenue of EUR 750 million or more; ordinary small and medium-sized businesses are not affected. |
| Accounting records | Kept for at least 5 years | Under the International Business Companies Act, the company must keep accounting records that correctly explain all transactions and allow financial statements to be prepared, along with invoices, contracts and other supporting documents, for at least 5 years. |
| Economic substance and beneficial ownership | Per official rules | Entities carrying on certain relevant activities must meet Bahamian economic substance rules, and beneficial ownership information must be reported through the registered agent as required. |
| Home-country CFC rules | May apply to shareholders | The Bahamas is a low-tax jurisdiction. If your home country has controlled foreign company rules, the profits of a Bahamian company you control directly or indirectly may have to be included in your taxable income at home. |
Tax and filing rules are based on Bahamian law and government notices. Ask an accountant to assess your structure.
Bahamas, BVI or Cayman company: which should you choose?
Bahamas offshore companies are often compared with other Caribbean offshore companies. The table below compares three common structures on a few key points.
| Item | Bahamas IBC | BVI business company (BC) | Cayman exempted company |
|---|---|---|---|
| Registry | Registrar General's Department, Bahamas | BVI Financial Services Commission (FSC) Registry of Corporate Affairs | Cayman Islands General Registry |
| Official incorporation fee | From $400 | From US$450 | From CI$700 |
| Official annual fee | From $350 | From US$450 | From CI$925 |
| Directors | At least 1, individual or company | At least 1, can be a company | Under Cayman companies law |
| Common uses | Holding, asset management, international investment | Holding, investment, special purpose vehicles (SPVs) | Listing structures, funds, venture capital and large holding companies |
BVI and Cayman figures come from each authority's notices. Choose based on the shareholders' background, payment regions and tax planning.
What foreign founders should know about setting up a Bahamas offshore company
- Foreigners can own 100%: a Bahamian IBC needs only 1 director, who can be an individual or a company (section 40), and foreign shareholders can own 100% of it.
- You must use a licensed service provider: under section 4, apart from licensed banks or trust companies, only firms licensed under the Financial and Corporate Service Providers Act can form an IBC.
- Remember the annual tax deadlines: penalties of 10% and 50% apply after March 31 and October 31, a company still unpaid by year-end is struck off, and restoration carries its own fee plus a $100 penalty for each year.
- Bank account opening is the biggest hurdle: international banks run strict KYC checks on offshore companies, so prepare a business description, contracts or invoices, source of funds and beneficial ownership documents. An offshore banking unit (OBU) account is another option to consider.
- Home-country CFC rules: if you or your company directly or indirectly control a company in a low-tax jurisdiction, check whether your home country's controlled foreign company rules require you to include its profits in your taxable income.
- Do not treat a Bahamian company as a secrecy tool: a Bahamian IBC must keep accounting records and supporting documents, beneficial ownership information must be reported as required, and the authorities can request it by law, so plan with compliance as the starting point.
Further reading
Sources: Bahamas International Business Companies Act, Ch. 309 (sections 4, 40, 176, 187 and the First Schedule); Bahamas Department of Inland Revenue: About VAT; Domestic Minimum Top-Up Tax Act 2024; Office of the Prime Minister of the Bahamas: 2024/2025 mid-year budget statement (VAT cut). The latest official notices prevail. This page is general information, not legal or tax advice.
How long does it take to set up a company in the Bahamas?
Setup time for a Bahamian company depends on the name check, KYC documents, preparation of the Memorandum and Articles, and review by the Registrar General’s Department. Once the documents are complete, the licensed service provider files them, and the law also offers an express incorporation option completed within 1 hour (an extra $450). Regulated businesses may take longer. Before we start, we give you the actual process and timeline for your structure.
What documents do I need to set up a Bahamian company?
To set up a Bahamian company, you usually need to prepare the following first:
- 1. Identity documents for shareholders, directors and ultimate beneficial owners
- 2. Proof of address from the last three months and contact details
- 3. The Bahamian company name, entity type and registered address arrangement
- 4. A description of the business model, main trading regions and source of funds
- 5. Shareholding percentages, director appointments, KYC and required authorization documents
Do I need to be in the Bahamas to set up a company?
Most steps to set up a Bahamian company can be completed remotely, with documents prepared and signed under authorization and a local agent’s support, so you do not always need to be there in person. However, bank account opening, identity verification, special licenses or certain government procedures may require directors, shareholders or authorized persons to attend in person, join a video call or provide extra documents. We confirm the requirements in advance and help arrange them.
What tax and filing obligations does a Bahamian company have?
- 1. IBCs are exempt from income tax and corporation tax, but economic substance, home-country CFC rules and the minimum tax for large groups must be assessed
- 2. Annual returns, company register maintenance, and registered agent or secretary services
- 3. Accounting records, audit, and economic substance or beneficial ownership maintenance
For a Bahamian company, the main ongoing items are renewing the registered agent, the government annual tax ($350 or $1,000, with penalties after March 31), keeping accounting records, and maintaining economic substance and beneficial ownership information. We can help plan bookkeeping, filings and an annual maintenance schedule for your business model.
What businesses and structures suit a Bahamian company?
Who can help me register a company in the Bahamas?
NSS Group (go.ai.com.tw) can help. NSS Group provides one-stop support for Bahamian companies, from pre-incorporation assessment to post-incorporation maintenance, reducing the uncertainty of cross-border setup and compliance.
Our main services include:
- 1. Bahamian entity type and structure assessment
- 2. Company name search, document preparation and registration filing
- 3. Bank account opening, KYC and cross-border payment documents
- 4. Bookkeeping, tax filing and annual compliance
- 5. Changes to shareholders, directors, address, shares and company details
- 6. Trademark registration, contract review and intellectual property planning
- 7. Website build, digital marketing and AI customer service setup
- 8. Ongoing business advisory and cross-border business support
We arrange your Bahamian company setup, maintenance and ongoing support around your industry, customer locations, banking needs and tax planning, so you can focus on growing your market.