Bahamas Company Formation Requirements
What are the requirements for company formation in the Bahamas? Bahamian law requires that there be only one company director appointed and it can either be a corporation or an individual from any country. You must also have at least one shareholder. Company meetings do not necessarily have to take place in the Bahamas but you must record minutes, and the country also allows unrestricted foreign currency transactions.
What are the other requirements for company formation in the Bahamas?
Existing company names or those that could be misrepresented as a government entity are not permitted. All Bahamian companies set up under the IBC format must have a registered office in the Bahamas and you must also have a registered agent. There are no mandatory reporting requirements and you may service legal requirements through the Europe Emirates Group associate office.
The Bahamas IBC company formation requirements are:
- The director’s name, date of birth and nationality
- Copy of official photo identification, e.g. passport
- Proof of residential address no less than three months old
- Designated company name with liability status suffix
- Permit or government licence for terms that are or similar to “Bank,” “Assurance,” “Royal,” “Municipal,” “Trust,” “Chartered,” “Insurance,” “Charter,” “Chamber of Commerce,” “Imperial,” “Building Society”
- Full names/addresses of any shareholders