Panama City

Edificio Sucre Arias & Reyes Avenida Ricardo Arango y Calle 61, Obarrio Panamá, República de Panamá
Phone: +507 204 7900
Email: sucre@sucre.net

Contact us +507 204 7900 / Email sucre@sucre.net

The British Community of the Bahamas constitutes an archipelago of 700 islands that extend through the Tropic of Cancer, between Florida, in the United States, and Haiti. Its capital city, Nassau, is located on the island of New Providence. It has a population of approximately 400,000 inhabitants and most live in New Providence.

Bahamas is one of the oldest parliamentary democracies in the world. Its constitution was promulgated in 1973 and has been independent since then and remains an active member of the British community of nations. Its legal system is established in the English Common Law and its economy is based mainly on tourism and offshore banking. The official language is English.

In SUCRE | ARIAS | REYES we provide all services related to the incorporation and administration of companies on the island, through our affiliated office in Nassau: SUCRE & SUCRE (BAHAMAS) LIMITED.

Important aspects

The British Community of the Bahamas has one of the main international financial centers in the Caribbean due to the numerous tax benefits granted to international business companies (IBC), and the simplicity and effectiveness of the process of incorporation.

An IBC is a company that does not conduct business with persons residing in the Bahamas nor does it have persons residing in the Bahamas as beneficial owners of any of its shares; nor does it have an interest in real estate located in the Bahamas; it does not conduct fiduciary or banking business, nor does it conduct insurance or reinsurance business, nor does the business of providing the registered office to the incorporated companies.

The legal currency is the Bahamas dollar which has the same value as the US dollar (USD$).

The Decree of the International Business Companies Act of 1989 was put into effect in January 1990 and establishes that all incorporated companies are exempt from taxes; that is, there is no inheritance tax, direct or indirect taxes on income taxes withheld, capital gain tax, personal income, inheritance, corporate income, dividend payments or sales tax, except for annual fees.

There are no restrictions or controls on currency exchange.

Our expert lawyers in public limited companies in Panama in Bahamas advise you on the protection of your investments.