The main vehicle offered for International Tax Planning Purposes is referred to as International Business Company ("IBC"). The IBC in Bahamas is a straight forward vehicle easy to use and with minimum statutory obligations. As it is designed for international tax planning, similarly to its rival jurisdictions, the IBCs can not perform services in regulated markets such as the insurance sector, banking, trustee services & management or collective investment schemes. In addition, IBCs can not trade within Bahamas or own local property.

Advantages

• Tax Free (guarantee for a 20 years from the incorporation date)
• No capital restrictions
• No public record of the officers of the company
• Nominee services are permitted safeguarding shareholders and officers anonymity
• No need of financial statements or accounting records to be maintained
• Meetings can be held anywhere in the world at least annually
• Common Law (case by case)
• English main language

Disadvantages

• 5 working days to be established
• Local registered agent is required
• Local registered office is required

Characteristics

• Can not trade in Bahamas or own real estate . 
• One director is required and can be a physical or legal person (local or from anywhere in the word)
• One shareholder is required; personal data are only disclosed to the registered agent during the on boarding procedure
• Information about the directors, registered office, agents and Memorandum & Articles of the company is publicly available in the local registrar of companies
• Classes of shares; register shares, shares of no par value, preference shares, redeemable shares and shares with / without voting rights. Bearer shares are not permitted.
• Register agent must be used and must keep all shareholders detailed information 
• Every IBC must have a registered office
• No minimum or maximum authorised capital
• Company Law; Business Act 2000; the financial and Corporate Services Providers Act 2000

The Country (Wikipedia)