Source: http://www.systemday.com/bahamas/bahamas-company-law.php
Timestamp: 2017-02-24 12:37:37
Document Index: 117978738

Matched Legal Cases: ['§37', '§13', '§40', '§43', '§45', '§41', '§166']

Bahamas Company Law - Bahamas International Business Companies Act
Bahamas Company Law - International Business Companies Act
Companies incorporated in the Bahamas must be in accordance with company law declared in Bahamas International Business Companies Act. You will find below the key extracts from the Bahamas International Business Companies Act along with the full act.
(1) The word “Limited”, “Limited Liability Company”, “Corporation”, “Incorporated”, “Gesellschaft mit beschrankter Haftung”, “Societe Anonyme” or “Sociedad Anonima” or its respective abbreviations shall be at the end of the name of every company with limited liability.
(3) No company shall be incorporated under this Act under a name that —
is identical with another company or so nearly resembles the name of another company as to be calculated to deceive
includes the words “Assurance”, “Bank”, “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Insurance”, “Municipal”, “Royal”, “Trust”, or a word conveying a similar meaning, or any other word that, suggests any connection with Her Majesty or any member of the Royal Family or the Government of The Bahamas
§37. Registered Office & Agent
A company shall at all times have a registered office and registered agent in The Bahamas. No person shall act as registered agent unless he is licensed to carry on the business of financial and corporate services pursuant to section 3 of the Financial and Corporate Service Providers Act.
§13. Memorandum of Association
the location in The Bahamas of the registered office and agent of the company;
in the case of a company limited by shares, a statement of the authorised capital of the company setting forth the aggregate of the par value, if any, that the company is authorised to issue and the amount, if any, to be represented by shares without par value that the company is authorised to issue;
a statement of the number of classes and series of shares
a statement of the designations, powers, preferences and rights, and the qualifications, limitations or restrictions of each class and series of shares that the company is authorised to issue §40. Directors
Subject to any limitations in its Memorandum or Articles, the business and affairs of a company incorporated under this Act shall be managed by at least one director who may be an individual or a company.
§43. The number of directors shall be fixed by the Articles and, subject to any limitations in the Memorandum or Articles, the Articles may be amended to change the number of directors.
§45. The directors shall have all the powers of the company that are not reserved to the members under this Act or in the Memorandum or Articles or in any unanimous shareholder agreement.
§41. Shareholders
All the shareholders of a company among themselves or all the shareholders of a company and a person who is not a shareholder of a company, may by a written agreement restrict in whole or in part, the powers of the directors of the company to manage the business and affairs of the company, and any such agreement if not otherwise invalid, shall be valid.
§166. Company Restoration
If the name of a company has been struck off the Register , the company or a creditor, may within five years immediately following the date of the striking off, apply to the Registrar to have the name of the company restored to the Register and upon payment to the Registrar of the prescribed fee and all fees due under this Act, the Registrar shall restore the name of the company to the Register and upon restoration of the name of the company, the name of the company shall be deemed never to have been struck off the Register.
Click Here to start the process of incorporating a Bahamas IBC.