An IBC in the Bahamas can be formed by an Attorney, Accountant or Registered Agent in the Bahamas. Therefore, it follows that there are an enormous number of choices for your offshore agent. All can provide you with a duly formed company, a registered office and act as your registered agent. All are required under the provision of the IBC act. In addition there are many onshore "consultants" offering the same service, however, all of these will be operating through a third party here in The Bahamas. The process cannot be carried out other than offshore.
Many well-advertised Formation Agents work on a mass production basis and your company will be merely another name on their list, not a satisfactory solution to making your company perform for you. In addition, some formation companies have a fairly nebulous presence whereby their core business will be law or accountancy and your formation is very much a sideline to them.
Before making your choice, consider the following:
Does your business have a physical presence in The Bahamas? While it must be understood that all mail in The Bahamas comes via a post office box, ensure that there is a street address for their office, not just a box number, fax and phone. Is it their sole business or just a sideline?
What do they offer in the way of additional services and can they actually perform them? Most claim a wide range of facilities but few have real capability. Beware of the "add-on" charges.
Will you receive personal attention? (i.e. when you call will they know who you are?)
Will they be pleased to see you at their office? They should be, if they only want to work through the mail avoid them. Do they provide office services for you?
Do they have any on-shore connections? Potentially, such connections may jeopardize your privacy, since the authorities may access all on-shore records particularly in the United States and provide a "paper trail" to you.
Do they have a track record? It is difficult for some companies to give references from existing clients but they should be able to put you in touch with a suitable source such as banks or brokers, who can vouch for their stability and good standing.
Can they provide you with good introductions to major banks and investment houses? This is critical to making your company functional and the status of your chosen provider will do much to assist you in the future.
Do you feel comfortable with them? After all, you have to repose as much trust in them as you would with your banker or broker. Perhaps, even more so, in the offshore world where there has to be a great deal of mutual confidence and if your agent is wise, they would probably need to know as much about you as you do them.
All of our services are conducted in complete privacy.
For a confidential, private consultation or for greater clarification about any of these matters please contact us and our staff would be pleased to assist you.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
