The Bahamas is a independent state belonging to the Caribbean Islands and composed by more than 700 islands. Located in the Atlantic Ocean, right between Cuba and Florida, the Bahamas are populated by approximately 300’000 inhabitants. This offshore place is quite famous and guarantees a lot of discretion to the person who owns there an offshore bank account or an offshore company.
Of course, in addition to the bank secrecy the Bahamian tax authorities are tax friendly with all entities willing to do business out of the archipelago and encourage you to incorporate your offshore company there by not taxing your offshore profit ie by doing business only out of the Bahamian territory. Also, one of the particularities of the Bahamas is its very business oriented legislation because based on the English model. Its flexibility and modernity are both a very big asset for this offshore jurisdiction which interests many foreign investors. Also, by guaranteeing the non disclosure of the identity of the owner of the companies registered on its territory, the Bahamas are one of the safest place worldwide in terms of discretion.
At FCBA Offshore Ltd we do recommend to open an offshore bank account or to incorporate an offshore company in Bahamas islands mainly for the people who need a USD bank account as USD is one of the official currency of the archipelago. Also be aware of the fact that the minimum share capital required by the authority is USD 50’000. This can be an issue for some people willing to register their offshore company in Bahamas.
To open an offshore bank account or to incorporate an offshore company in Bahamas is easy for us and we could enjoy our network and partnerships with local banks to you. However, bank fees (including both transaction and maintenance fees) are quite expensive compared to other banks located in other jurisdictions.
Finally, be aware of the fact that the initial deposit required by the banks is quite big which could be a drag for you to set-up your business there.