GFA TRUST offers corporate services in Bahamas are a highly attractive jurisdiction for company formation due to their, in general nature, minimum requirements of disclosure in connection to Public and Annual Filing obligations. The type of the company formed is that of an International Business Company (IBC) i.e. a private company which is structured in such a manner in order to facilitate itself to be engaged into any international business activity. An IBC is exempted from tax in its home jurisdiction, safeguards to the maximum the privacy of its Owner(s) and has no onerous reporting requirements attached on it.
The incorporation process for a Bahamas’ IBC takes 2 to 3 days. The tax on offshore profits and exchange controls are non-existent.
The jurisdiction’s Local Requirements are limited to the existence of a Registered Office/Registered Agent which/who is to be located in Bahamas with no obligation attached as to the presence of a local Company Secretary, Director or with the legal obligation that the meetings of the company take place in Bahamas, as the location of the Board Meetings, can be placed anywhere in the world as also the company’s administration. The minimum number of Directors and Shareholders is 1.
Public filings are restricted only to the Director(s) of the company, hence, safeguarding the Shareholder(s) and the Ultimate Beneficial Owner(s) from publicly disclosing their information. Furthermore there are no Annual Filing Requirements attached i.e. there exists no obligation for the submission of the company’s Annual Return or Audited Accounts.
Whereas the issuance of bearer shares is non-acceptable, company re-domiciliation is permitted, as also, the acquiring of shelf companies and the appointment of Corporate Directors.