What Motivates Businessmen to Invest in the Bahamas
- In the Bahamas, companies can be registered with the presence of a single partner and one manager, who can be a foreigner residing outside the country.
- The establishment of the company does not require much time, as procedures can be completed within a week.
- International business companies (offshore companies) are exempt from taxes.
- Partners and managers meetings can take place anywhere in the world.
- The country provides privacy for both companies and partners under the Bahamas Law for International Business Companies.
Also read: A Simplified Definition of Commercial Law
Some of the Investments Recommended for Foreigners in the Bahamas
- Tourist resorts.
- Technology services.
- Agricultural industries.
- Food processing.
- Banking services.
- Manufacture of medicine.
- Medical centers.
Procedures for Establishing a Company in the Bahamas
- Obtaining approval from the Bahamas Investment Authority.
- Obtaining the necessary licenses.
- Obtaining the company’s establishment certificate.
- Determining the company’s articles of association.
- Registering the company’s address.
- Submitting a certified copy of the passport.
- Providing a proof of residence.
- Registration of partners and managers.
- Opening a bank account.
- The minimum capital for foreigners is 500,000 US dollars.
Types of trading companies in the Bahamas
- International Business Company.
- The Public Company.
- Limited Liability Company.
- Unlimited liability companies.
- Shareholding company.
- Public Partnership.
- Limited Liability Partnership.
- One-person Company
- The Bahamian Foundation.
Also read: The Importance of Commercial Law