A Bahamas foundation is a distinct legal entity registered under the Foundations Act 2004. Once registered, a foundation is deemed to be resident and domiciled in The Bahamas. Foundations may be established for private, commercial or charitable purposes provided same is lawful and include the management of its assets. Foundations are created by the will of the founder or by the founder executing a charter which may, but need not, be filed in the registry of foundations.

Key Features

Bahamas Foundation

Corporate Details

General

  • Legal System

Common Law/ Civil Law ( Hybrid)

  • Language

English

  • Time to Establish

1-3 Days

  • Registered Agent and Office

Yes

  • Foundation Legislation

Bahamas Foundations Act 2009

  • Type of Entity

Foundation

  • Taxation

No

Secretary

  • Requirement

Yes

  • Resident Secretary

Yes

Assets

  • Minimum Requirements

$10,000 initial assets

  • Beneficial Owner

Yes

Founder

  • Minimum No Founders

2

  • Nominee

Yes

  • Qualifications 1

An Individual or Legal Entity

  • Qualification 2

Beneficiary but not a sole Beneficiary

Foundation Council

  • Minimum No of Councillors

2

  • Qualifications 1

Founder may be a Councillor but not the sole Councillor

  • Qualification 2

Maybe natural persons or legal entities

  • Publicly Accessibility

No

Protector

  • Requirements

Yes

Foundation Charter

  • Requirements to Prepare

Yes

  • Public Accessibility

Yes

Accounts

  • Requirements to Prepare

Yes

  • Requirements to file accounts

Yes