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Bahamas IBC (International Business Company) Advantages |
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IBC stands for International Business Companies in the Bahamas, a versatile and innovative company which facilitates international companies to be incorporated seamlessly and trouble-free into Bahamas. Ever since the enactment of the International Business Companies Act in 1989 many companies with over 36,000 since 1990, have taken the advantage of the opportunity in registering themselves. As of now, The International Business Companies Act created in 1989 was repealed in 2000 for better management of investor focused provisions. Basically, it is created as a corporate constituent for international businesses.
There are a number of advantages of integrating your company to IBC. Highlights are provided below:
It only needs minimal formality. Incorporation is done through registration and can be finished in one to two days. Two persons shall subscribe for a Memorandum of Association and Articles of Association for the shares. Once they are registered with the Registrar of Companies, a Certificate of Incorporation will be given and an IBC is legally existent and can initiate immediately if they choose to do so.
There is no minimum amount for the capital of an IBC; the shares can be divided without limit along with its dividends and rights in any currency which can be paid in cash and its assets can be transferred through a trust for the benefit of its shareholders.
The IBC is very convenient because you only need one shareholder and one director which can either be an individual or a company. You don’t need to be a resident of the country to participate because meetings can be held in various means; through the phone, by representing yourself through a proxy, and even electronically, in or outside Bahamas.
By law an IBC is required to have their own registered office and agent in the Bahamas. This provides a guaranteed confidentiality because no comprehensive documentation needs to filed and pertinent information is retained in the company’s shared registered office.
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