If you are thinking about setting up an offshore company, there are several jurisdictions you can choose from. Each one of them has its advantages and disadvantages. Bahamas Company Formation will offer you a variety of benefits that clearly makes this jurisdiction stand out from the rest.
One of the benefits you will enjoy with Bahamas Company Formation is that the official language used is English. This is especially important for those who are running international businesses because you have to deal with different foreign countries. If language is one of your main considerations when you are looking for a jurisdiction for your international business, the Bahamas is a great choice. All the legal and financial documents that you will use for your business will be in English.
Bahamas Company Formation lets you choose any name for your company as long as it is not being used by another business. Some of the abbreviations that you can use in your company name include Limited, Societe Anonyme, Corporation and Incorporated. There are some words that you cannot use in your company name including trust, municipal, bank, and assurance, imperial, royal, insurance, chamber of commerce and building society.
Unlike other countries, Bahamas Company Formation only requires you to have one director for your company. Most jurisdictions require an offshore company to have a minimum of three directors. This does not mean that you cannot have as many directors as you like. Details about the directors in your company will not be accessible to the public therefore you can be assured about confidentiality.
After Bahamas Company Formation you are allowed to issue the shares in registered or bearer form. You will not have to go through any registration process if you choose either of these methods to issue company shares. Information about the shareholders will also be kept away from the public records.
A bank account is an essential element for Bahamas Company Formation and the advantage is that it will be very simple to set one up. All you will need is a reference and a copy of your passport to open an account for your business. One thing that makes banking in the Bahamas different is that the institutions to not divulge any information to third parties. The only time the banks will give out details about your business account is if you provide consent. The bank can let a third party know that you have an account with them but the law does not allow any more details to be divulged.
Another aspect that sets Bahamas Company Formation apart from other jurisdictions is that your offshore company will not be allowed to engage in any business in the country. Owning real estate is also not allowed for international business companies in the Bahamas.
If you set up a local bank account for your offshore company, you will be able to earn interest on it and not be taxed. Your offshore company will not be required to pay taxes for a period of 20 years.
We provide the following company formation services, Seychelles Company Formation |Belize Company Formation| Offshore Company Formation | BVI Company Formation | Bahamas Company Formation
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