- The Bahamas is a leading wealth management juridiction boats regulatory compliance standards comparable to those of major financial centers across the globe
- It is an indipendent judiciary
- It is one of the oldest parliamentary democracies in the Western Hemisphere
- It is located in close proximity to the major Countries in Latina America and to the United States
- It is a sovereign Country with membership in the United Nation (UN) and Organization of American States (OAS)
- It offers more than 6,000 financial services professionals
Our clients and their needs
– High net Worth Individuals domiciled in Latina America, Europe, Middle East, Asia and The United States
– Family Offices
– Corporates
Their needs are:
– Estate Planning
– Asset Protection
– Assett Consolidation
– Tax Planning
– Financial Planning
– Charitable Purposes
– Family Governance
– International Business Company
– Limited Duration Company
– Segregated Account Company
– Executive Entity
– Holding Company
– Private Trust Company
– Trust
– Foundation
– Accounting and Consolidated Reporting
– Will
– Residency Program
– Business Licensing
– Properties Transactions
Establishment of a company in the Bahamas
Many banks and financial companies have their headquarters here. Offshore companies registered in this country are widely used in the world and enjoy high privacy. The institutional form of the Bahamas is the constitutional monarchy and being part of the Commonwealth the Head of State is the monarch of England.
Taxes
The International Business Companies Act, 1989 (“IBC”) has created a special category for ‘offshore’companies, hence for non-residents. Such companies pay annually, to the Bahamas tax authorities, a fee of $350 for a share capital of $50,000.
Members of the company
A company in the Bahamas must have a minimum of 1 director (administrator) and a minimum of 1 shareholder (beneficiary), which may be private or legal persons. Director and shareholder can be the same person.
Anonymity and Guarantee of Anonymity
Only the details of the administrator are in the official documents. There is the possibility of having also the aid of trustees. The shareholders are not in the public record.
Company name
The name of the company may end with the following words: Limited, Incorporated, Corporation, anonymous companies, abbreviations such as Ltd., Inc. or S.A.
Registered Capital
The companies are set up with an authorized capital of $ 50,000 USD consisting of shares of $ 1,00 each then 50,000 shares.
Annual Financial Statements
A company in the Bahamas (IBC) is not required to present annual accounts or financial statements with the Government of Bahamas.
Anonymous and/or Fiduciary
Only the names of the trustees will appear on the public registers kept in the Bahamas Register of Companies. Official (non-public) documents are also drawn up to ensure that beneficiaries retain full control over their companies. Trustees have no executive powers and no signatures on corporate bank accounts.
Accounting obligations Maintenance and maintenance of balance sheets.
Taxation No tax of any type.
Legislation Modern offshore legislation.
Currency US$
Times for the Constitution The Bahamas have a fast and efficient Registry Office.
Stability stable jurisdiction with excellent reputation
TimezoneConvenient time zone: GMT-5
Basics of the Legal System Use of Common Law.
Minimum share capital: $50,000.
Minimum number of directors/ shareholders Minimum of 1 director and 1 shareholder.
Documents necessary for the formation of a company An authenticated copy of the passport (in addition to an identity document), together with a certificate of residence of your country less than 3 months old.
Time to set up and operate The time for setting up the company, opening the bank accounts and full operation of the company are 5-7 working days.
Services offered by Panico Law firm
Panic Law firm in partnership with Ansbacher (Bahamas) Limited, since 1957 is the best choice operating in the areas such as financial services, business, funds, trust, insurance and real estate.
As an independent trust company regulated by the Central Bank of the Bahamas and the Bahamas Security Commission, it is one of the largest groups whose peculiarity is to offer customers with the same structure the three services necessary, legal, tax and banking.
Having the three services in one structure the customer has the certainty and the pleasure to interface with a single interlocutor avoiding therefore various passages between the legal, fiscal and banking field avoiding therefore wait, uncertainties and misunderstandings.
Cost
Provided that the prices are negotiated with the customers from time to time according to the type and importance of the operation, we provide the following references:
- Bahamas IBC (for financial activities)
Annual cost: USD 7,000
Services included: directorship, registered Office, registered Agent, FACTA / CRS, Financial statement.
- Bahamas Trust (to carry out financial activities)
Annual cost: USD 8 ,000
Services included: Trusteeship, FACTA / CRS, Financial statement.
Bahamas U.S.A. Italy
Nassau Miami Napoli
308 East Bay Street 407 Lincoln Road Via Cicerone, 20
Ph: +1 242 502 3656 Ph: +1 305 534 0402 Ph: +390815703759
Mob: +1 242 357 8881 Mob: +1 786 559 1973 Mob: +39.3283541550
e-mail: panicogiuseppe@hotmail.com