How to set up an LLC in The Bahamas?

Since 2001, LLC's must provide the names and addresses of the officers and directors to the Registrar General's Department. Otherwise, only a Memorandum and the Articles of Association need to be filed. Normally, the registration process takes no more than one day.

How do I set up a company in The Bahamas?

To set up an offshore company in the Bahamas, individuals are required to engage a third-party registered filing agent to do the application. You'll need to prepare personal documents such as notarized passport copies and proof of residence, bank and professional character references, as well as due diligence forms.

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Action of the Board of Directors by Written Consent in Lieu of...

Directors Rules In Nassau

Q: How to set up an LLC in The Bahamas?

Since 2001, LLC&#039;s must provide the names and addresses of the officers and directors to the Registrar General&#039;s Department. Otherwise, only a Memorandum and the Articles of Association need to be filed. Normally, the registration process takes no more than one day.

Category:

Corporations - Minutes and Resolutions

State:

Multi-State

County:

Nassau

Control #:

US-0043BG

Format:

Instant download

Description

The Directors rules in Nassau emphasize the process by which a Board of Directors can adopt resolutions via written consent rather than in a formal meeting, aligning with §8.20 of the Model Business Corporation Act. This form allows corporate directors to authorize the establishment of a stock ownership plan under Section 1244 of the Internal Revenue Code, streamlining decision-making and enhancing efficiency. Key features include a clear layout for directors to record their consent and the ability to execute the document in multiple counterparts, each regarded as an original. Users are instructed to fill in the corporation's name, state, and details of the authorized persons responsible for executing necessary agreements. This form is particularly useful for attorneys, partners, and corporate owners who need to ensure compliance with legal standards while enabling swift corporate actions. Paralegals and legal assistants can use this form to facilitate documentation and compliance, while associates gain practical experience in corporate governance. Overall, the form simplifies the process of board decisions, making it an essential tool for the corporate legal landscape in Nassau.

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FAQ

Since 2001, LLC's must provide the names and addresses of the officers and directors to the Registrar General's Department. Otherwise, only a Memorandum and the Articles of Association need to be filed. Normally, the registration process takes no more than one day.

All non-Bahamians or Permanent Residents seeking to do business in The Bahamas must submit a Project Proposal to the Bahamas Investment Authority (BIA). Additionally, from time to time the Government of the Bahamas offers targeted investment incentives for particular types of projects.

DOCUMENTS REQUIRED FOR BAHAMAS COMPANY INCORPORATION Application form. A registered physical office. Copies of the passports of the shareholders and business owners. A certificate of incorporation. Articles of association and the memorandum. Proof of residence. Meeting transcripts. Certificates for shares.

To set up an offshore company in the Bahamas, individuals are required to engage a third-party registered filing agent to do the application. You'll need to prepare personal documents such as notarized passport copies and proof of residence, bank and professional character references, as well as due diligence forms.

The Bahamas is recognized as a tax haven because of its favorable financial environment. This includes the absence of corporate and personal income taxes, no capital gains tax, and a historically strong commitment to banking secrecy. The Bahamas is also known for being politically stable.

Bahamians achieved self-government through a series of constitutional and political steps, attaining internal self-government in 1964 and full independence within the Commonwealth on July 10, 1973. Since independence, The Bahamas has continued to develop into a major tourist and financial services center.

Mike Maura Jr - Nassau Cruise Port Ltd.

The Commonwealth of The Bahamas welcomes International Investors who wish to establish a business in The Bahamas. All non-Bahamians or Permanent Residents seeking to do business in The Bahamas must submit a Project Proposal to the Bahamas Investment Authority (BIA).

The Immigration Board consists of persons holding office as Cabinet Ministers. The Prime Minister is the Chief Executive Officer of the Board. However, this duty is generally exercised by the Minister with responsibility for Immigration.

The current Bahamian monarch and head of state, since 8 September 2022, is King Charles III.