Bahamas Company Formation Whats the Requirements

Jan. 20, 2010 - PRLog -- , for any investor, who wants to be incorporated in the Bahamas company formation, is required to produce a memorandum of association. The new company act dictates that the memorandum of association is supposed to be filed in the office of the registrar general. Another document that should be filled is the articles of association which should accompany a memorandum of association or it must be submitted by the promoters of the company within the duration of six months. The articles of association are supposed to be signed and there should be one person to act as a witness. On the other hand, the memorandum of association should be signed by a least number of two subscribers. There should be at least one person to witness the signing.

http://www.cclogic.com/register-offshore-company-online/bahamas-company-formation.html

Bahamas company formation requires that any person who is a subscriber must be ready to subscribe for a minimum of one share. If there is any nonresident subscriber, he must be able to get permission for the exchange control. Another document that must be submitted with the memorandum is a declaration that is fully signed by the attorney together with the counsel regarding the capacity of those people who want to be incorporated. Another very important document that is submitted is the clause that specifies the liability of the shareholders. There should be clear guidelines that show the liability of the shareholders and to what extent is it limited to.

When it comes to foreign companies that want to be incorporated in the Bahamas Company formation, they have to follow some laid down procedures in order for them to be fully accepted to do business. For instance, they are supposed to make a statement file that is in the form of an application approval.  The statement file should be able to give the details about the name of the company together with the area of operation it is incorporated. The statement filed must show the actual date of the company incorporation. The documents must be able to show the way in which it was incorporated and with all the relevant information on the corporate instruments. If there is any fixed period of doing business, it has to be clearly shown.

Another important requirement for the Bahamas company formation by the foreign investors is the specification that shows the extent to which the shareholders of the company are liable in case of any debts that has to be settled when winding up the company. According to the Company Act of Bahamas Company formation, there should be the undertaking of the company on how it will conduct its business. The foreign investors must also be able to show the three categories of capital and these include the authorized, subscribed and the paid up capital of the company. There should also be a clear distinction in terms of the shares that are supposed to be issued and the face value of those shares.

http://www.cclogic.com/register-offshore-company-online/b...

# # #

CCLogic.com is operating as a consultancy firm in the fields of credit card processing, payment gateway, anti fraud systems and the formation of Cyprus companies.
Also we offer our services for clients and businesses worldwide.