The Corallium Blog
Doing business in The Bahamas
Plain-English guides for founders and companies with a Bahamas presence: company structures, banking, phone numbers, Nassau and Freeport, and how things work on the islands.
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What is an IBC?
An IBC, or International Business Company, is a company formed under The Bahamas' International Business Companies Act, 2000, typically used to hold investments or run…
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Advantages of owning a company in the Bahamas
A Bahamas company combines a zero-income-tax regime with an English-based legal system, a currency pegged to the US dollar, and a location in the same time zone as New…
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Doing business in The Bahamas: hours, holidays and how things work
Business in The Bahamas runs on Eastern Time, in English, and in a currency worth exactly one US dollar. Knowing the public holidays, how mail works and when hurricane…
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Why a local +1 242 phone number matters
A +1 242 number is a Bahamian phone number, part of the same North American numbering plan as the US and Canada. It tells clients, banks and partners that your business…
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IBC or regular Bahamian company: when is one better than the other?
An International Business Company (IBC) is usually the better choice when the business looks outward, holding assets or serving clients outside The Bahamas. A domestic…
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Five myths about offshore companies
Offshore companies are legal, widely used and far more regulated than their reputation suggests. Most of the myths come from rules that changed years ago: today owners…
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Freeport vs Nassau: where should your business be?
Nassau is The Bahamas' capital and its financial and professional centre, where government, banks and law firms are based. Freeport, on Grand Bahama, is the country's…
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Banks in The Bahamas: who offers business accounts?
The main commercial banks serving everyday business customers in The Bahamas are Commonwealth Bank, Bank of The Bahamas, Fidelity Bank (Bahamas), RBC Royal Bank, CIBC…
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Do you need a physical office in the Bahamas?
Most Bahamas companies do not need a physical office. Every company must have a registered office through a licensed registered agent, and many add a virtual office for a…
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