Setting up an offshore company can be an excellent way to do business with a high degree of personal privacy, minimal auditing requirements and without incurring a high tax burden. Incorporating offshore in a business friendly overseas jurisdiction offers your business the combined benefits of tax exemption, anonymity and limited liability.

In addition to confidentiality and a no taxes, starting an offshore company often means zero accounting costs! Most offshore jurisdictions have no accounting requirements and no yearly auditing obligations. One such jurisdiction that exemplifies all the advantages of a stable, offshore tax-haven is the Bahamas.

An English-speaking ex-British colony, the Commonwealth of the Bahamas gained independence in 1973 and has gone on to become the most economically prosperous nation in the Caribbean. A stable democracy with world-class infrastructure, the Bahamas is one of the most sophisticated and influential centres in the international offshore financial services industry. The Bahamas are currently home to more than 400 banks from over 30 countries, boasting an impressive combined asset base of more than $200billion. The island nation’s legal system is based on British Common Law, making incorporating in the Bahamas’ business friendly environment a no-brainer for UK based entrepreneurs.

Starting up an offshore company in the Bahamas offers an unprecedented degree of freedom and flexibility. Not only will you not be required to pay any corporation tax, you can also conduct your business activities in near anonymity, away from the prying eyes of the tax authorities in your own country. Offshore company formation in the Bahamas is primarily carried through entities called International Banking Companies, or IBCs.

In addition to IBCs, 2007 legislation have made setting up Bahamas Private Trust Companies, or PTCs. Easy and accessible for non-corporate clients, PTCs have all the advantages of IBCs and are specifically designed to make wealth management and asset protection easier.

Our experienced offshore formation experts at Fast Formation are on hand to guide you in the process of incorporating in the Bahamas. Along with our offshore company formation services, we offer a whole host of value added services for high net-worth individual looking to shield their assets from the local taxman or for forward thinking entrepreneurs looking to go global.