Bahamas: Offshore Legal and Tax Regimes
The International Business Company and its cousin, the Limited Duration Company, are not allowed to do business with Bahamian residents, but are allowed the following activities in the Bahamas:
- To maintain bank accounts;
- To make and maintain contact with professional firms;
- To maintain books and records;
- To hold meetings of directors or members;
- To lease real estate for use as an office.
It is possible to obtain a license from the Minister of Finance to carry out other types of business activity on the island, if he considers it is in the interests of the Bahamas.
Other offshore and non-resident entities operate under broadly similar regimes to the International Business Company.