Establishment of an International Business Company
Thank you for expressing interest in establishing an IBC. We have herewith outlined the benefits, cost and credentials necessary to facilitate the smooth incorporation of an IBC. Due to recent Legislation passed in the Bahamas, we are now able to offer to our Non-Bahamian Clients the advantage of the above companies at a moderate cost.
These Companies have the following abilities/advantages:-
1. The Company has the ability to trade in any country or currency other than the Bahamas, except that it can maintain accounts and its administrative office here;
2. There is no reporting to any agency of the Company’s ownership or activities. Therefore, complete anonymity can be provided;
3. The Company is guaranteed freedom from taxation for twenty (20) years;
4. Exchange Control Regulations do not apply to any transaction between Shareholders;
5. Two (2) persons instead of five (5) are required as Incorporators and Shares are transferable at will;
6. Directors and Shareholders’ Meetings may be held by telephone or other means;
7. The Company is empowered, inter alia, to issue Registered Shares, Shares bearing varied rights, options, warrants ands securities;
8. The Company may purchase, redeem or otherwise acquire its own shares;
9. Annual reporting of the Directors of the Company to the Registrar General is required;
10. The cost of Incorporation and attendant expenses amount to One Thousand Eight Hundred ($1,800.00) Dollars. Annual charges to 1st January are pro-rated on Incorporation;
11. The annual License Fee payable to the Bahamas Government is calculated on the amount of capitalization and par value of Shares but for most companies would not exceed Three Hundred and Fifty Dollars ($350.00). The annual Retainer payable to ourselves as Registered Agent/Office is Six Hundred Dollars ($600.00) per annum. This would be payable upon incorporation and by 1st January of each following year to which the firm is not responsible for notification of the same and which expense and added penalties and fees remain the shareholders and/or directors obligation;
12. In the event we provide Offices and Directors for your convenience and ease of conducting corporate matters, there would be an additional annual fee payable in the amount of Six Hundred ($600.00) Dollars per Director.
We would require that you provide us with client profile information for each Director and Beneficial Owner including a copy of the Shareholder(s)/Beneficial Owner’s Passport(s) and objectives of the Company together with a completed Dupuch & Turnquest & Co. Client profile form as attached. We ask that you indicate the respective persons to receive the allotted shareholding of our usual Five Thousand (5,000) (authorized and issued) fully paid up registered shares together with a suggested listing of Officers and Directors (to include President, Vice President and Secretary of the intended company). Information on the Beneficial Owners and Directors is essential in our jurisdiction
Should the Company require a Bank Account, the Bank will require stringent and full background information, and references, and a personal interview. The Bank will also require photocopies of the signatories’ Passports, Drivers’ License, and confirmation of address. Personal and Bank requirements have to be met before they will open the Account. The Account would normally take three (3) to four (4) weeks to open.
Please confirm the name of the entity which you would prefer using along with two (2) other alternatives. A name with “Bank” cannot be used.
Our Firm requires an initial retainer in the amount of Five Thousand Dollars ($5,000.00) given the plethora of the necessary work included. However, we reserve the right to increase the retainer as the afore-mentioned may require extraordinary time and effort to complete. In the event that you have retained an attorney of our firm to handle your legal affairs, you will be exempted from providing the above-mentioned retainer accordingly.
We kindly invite you to provide us with an instruction to proceed and a duly executed and dated Engagement Form is now enclosed. Thereafter, our retainer would need to be wired and/or transferred to our Firm’s account as per the wiring information.
I would humbly request that we schedule a meeting between the representatives of your company and ourselves to discuss these matters at your earliest convenience. Please let me have your comments and/or instruction in this regard.
We confirm we should be pleased to be of service to you in The Bahamas.
With best regards, we remain,
DUPUCH & TURNQUEST & CO.