Register Company in the Bahamas with Block3 Finance
Registering a company in the Bahamas is straightforward if you're familiar with the process. With Block3 Finance at your side, you can focus your time and resources on more strategic aspects of your business while we take care of the registration.
The Bahamas, known for its stunning vacation spots, also offers an attractive zero-tax regime. Many businesses choose to set up their International Business Companies (IBCs) here due to the tax advantages and other benefits. Our expert team ensures your business in the Bahamas is set up seamlessly and operationally ready within the required timeframe.
Our Service Package Includes
Company registration with the Registrar General’s Department
Local company secretary and registered address
Corporate bank account opening
Financial license applications
Annual accounting and tax services
Steps to Register a Company in the Bahamas:
Company Name Reservation: Block3 Finance will help you select and reserve your preferred company name with the Registrar General’s Department.
Document Preparation: Once the name is approved, we will prepare the required incorporation documents, including the Memorandum of Association (MoA) and Articles of Association (AoA).
Business Registration Certificate: Upon successful application, you will receive your Business Registration Certificate and other essential documents.
Corporate Bank Account Setup: After registering your business, we will assist you in opening a corporate bank account with a reputable bank of your choice.
Complete Company Setup: Your Bahamas company will be ready to begin operations within 5 weeks.
What Is a Tax Haven, and Is The Bahamas One?
While the term "tax haven" often implies low or zero tax rates, Block3 Finance ensures that your company complies with the latest financial reporting standards. The Bahamas is not only a low-tax jurisdiction but also complies with international standards in the fight against money laundering, as per the Financial Action Task Force (FATF).
The Bahamas continues to uphold high standards of financial reporting, making it a legitimate place for setting up businesses.
Economic Substance Requirements: In line with its commitment to tax reform, the Bahamas passed the Commercial Entities (Substance Requirements) Act in December 2018. This act ensures that companies demonstrate real economic activity in the Bahamas. Companies engaged in activities like banking, insurance, and shipping must comply with this law, ensuring that these businesses are not just “shell” companies.
Your company must have:
A sufficient number of full-time employees
Adequate operating expenditure
A physical office in the Bahamas
Penalties for Non-Compliance: Failure to comply with the substance requirements may result in significant penalties, including administrative fines of up to $150,000. To avoid these issues, Block3 Finance will assist you with compliance and provide ongoing reminders to ensure you meet regulatory deadlines.
Can a Foreigner Register a Company in the Bahamas?
Yes, 100% foreign ownership is allowed in most sectors. Foreign investors can set up a business with the help of Block3 Finance without residency requirements for the director. The Ministry of Finance's Bahamas Investment Authority (BIA) regulates foreign investments.
To get approval, you’ll need to submit a Project Proposal and provide details of your business activity. Once approved, you will also need to invest at least $500,000 and ensure that your business activity is not restricted to local businesses.
Types of Business Entities in the Bahamas:
There are several types of business entities available for registration in the Bahamas:
Limited Liability Company (LLC): The most popular choice, allowing 100% foreign ownership.
Joint-Stock Company (JSC): Suitable for businesses planning to raise capital through the sale of shares.
Partnership Company: A partnership where members share liabilities and profits.
Branch Office: For foreign companies wishing to expand into the Bahamas.
Representative Office: Non-revenue-generating offices for market research or promoting the parent company’s activities.
How to Register a Company in the Bahamas?
Choose an Optimal Business Structure: Block3 Finance will help you select the best business structure based on your long-term goals.
Reserve Your Company Name: We will assist you in reserving your company name with the Registrar General’s Department.
Prepare the Required Documents: We will ensure all necessary documents, such as the MoA and AoA, are prepared and notarized.
File for Company Registration: We will submit your application to the Registrar General’s Department for approval.
Open a Corporate Bank Account: We will help you open a corporate bank account with a reputable local or offshore bank.
Accounting and Tax Obligations
The Bahamas has no income, capital gains, or estate taxes for businesses. However, businesses may still be subject to Value-Added Tax (VAT) for certain goods and services. Block3 Finance will handle your tax registrations, including VAT registration and annual filings.
Why Register a Company in the Bahamas?
The Bahamas is a prime location for businesses looking to benefit from:
Zero tax regime for companies (no income, capital gains, or estate taxes)
Ease of business setup and minimal regulatory hurdles
A well-developed banking sector and strong privacy protections
Free Zones in the Bahamas: The Bahamas also offers several Free Zones that provide incentives such as tax exemptions and reduced capital requirements, making it an attractive option for foreign businesses.
Looking to Register a Company in the Bahamas?
Contact Block3 Finance to learn more about how to register your business in the Bahamas. Our team of experts will guide you through every step of the process, ensuring your business is set up efficiently and in full compliance with local laws.
