How To Set Up An Offshore Company For 2020: A Guide From A To Z
BBCIncorp will guide you through complete steps for how to set up an offshore company, from preparation to incorporation process. Read below for more details!
Bahamas has been well-known for its privacy and security of the banking system. Recently the country has implemented changes to its long-standing history of international financial services to meet EU and OECD demands. As a result, Bahamas is a member of Tax Information Exchange Agreement (TIEA) with nearly 40 countries.
Financial services, specifically international banking are the second-most important factor to the Bahamas economy, which contributing up to approximately 17% of total GDP. Bahamas has promulgated International Business Companies Act in 1990, and subsequent initiatives to enhance the country’s status as a leading offshore financial center.
The Bahamas has a sound and well-regulated banking system comprised of domestic and large international banks from across the globe, which provides easy access to global capital markets. The central bank of Bahamas, established in 1974, pursues its legal mandate of maintaining the country financial stability.
We currently don’t support opening bank accounts in Bahamas. However, a Bahamas IBC can open its account in most offshore banks including Singapore.
|Country||Bank||Online Banking||Personal Visit||Credit Card||Debit Card||Intial Deposit|
**Initial deposit is often blocked in offshore bank account; if so, this amount is often small.
However, banks in Hong Kong and Singapore do not freeze this amount, so you can use it freely. But you will be charged additional fee by not maintaining your account above min balance.
Additional supportive documents beyond the listed above might be requested to open your Bahamas company bank account depending on each local regulation, your business fields and on a case-by-case basis. Please contact us to know the exact documents needed for your case.