Bahamas companies are administered by the International Business Companies Act of 1990. Living so close to the United States makes the Bahamian business development really popular for Americans and others seeing to form offshore limited companies. One cause for its reputation as an offshore corporation jurisdiction are the stringent privacy laws that benefit keep information about Bahamas corporations confidential and private. The Bahamian IBC is an organization that can be utilized to run a business outside of the Bahamas or to holds an offshore bank account or investment account.
Bahamas PSPs may involve in various activities including the fulfilling of payment transactions, publishing and/or acquiring of payment devices as well as money remittance.
The Central Bank of The Bahamas is bound for the licensing of entities giving payment services under the Payment Systems Act, 2012 and the Payment Instruments Regulations 2017, as well as for administration and guidance of payment instruments, including electronic money products.
The Central Bank has a responsibility to develop and maintain high types of administering and management of payment services. The Central Bank, through the Research Departments, watches the acquiescence of licensed entities in terms of usage of payment instruments, including electronic money products and similar services provided by all entities licensed for that purpose.
You will benefit from following when incorporating in the Bahamas:
- No corporate tax
- Payment companies enjoy less stringent regulatory
- Advantageous tax remedy for shareholders of PSPs
- A steady political environment
- A cost-effective jurisdiction