Setting up business in the bahamas

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ANNEXES I Setting up companies in the Bahamas
Several notes from the web

13 Jan 2008

Copyright The Government of the Commonwealth of The Bahamas

CHAPTER 309 INTERNATIONAL BUSINESS COMPANIES ARRANGEMENT OF SECTIONS
PART I PRELIMINARY 1. Short title. 2. Interpretation. PART II CONSTITUTION OF COMPANIES 3. Incorporation. 4. Persons who can incorporate International Business Companies. 5.No criminal objects or purposes. 6. Contravention of section 5. 7. Personal liability. 8. Mode of limiting liability of members. 9. Company limited both by shares and by guarantee. 10. Powers. 11. Validity of acts of company. 12. Name. 13. Memorandum. 14. Articles. 15. Registration. 16. Certificate of incorporation. 17. Certificate to be evidence of compliance. 18. Amendment of Memorandum orArticles. 19. Copies of Memorandum and Articles to members. PART III CAPITAL AND DIVIDENDS 20. Consideration for shares. 21. Amount of consideration. 22. Fractional shares. 23. Capital and surplus accounts. 24. Dividend of shares. 25. Increase or reduction of capital. 26. Division and combination. 27. Nature of share. 28. Share certificates. 29. Share Register. 30. Rectification of Share Register. 31.Transfer of registered shares. 32. Acquisition of shares. 33. Treasury shares disabled in respect of voting and dividends. 34. Increase or reduction of capital. 35. Dividends. 36. Appreciation of assets.
Copyright The Government of the Commonwealth of The Bahamas

PART IV REGISTERED OFFICE AND AGENT 37. Registered office. 38. Registered agent. 39. Register of registered agents. PART VDIRECTORS, OFFICERS, AGENTS AND LIQUIDATORS 40. Management by directors.

13 Jan 2008

41. Unanimous shareholder agreement. 42. Election, term and removal of directors. 43. Number of directors. 44. Register of directors and officers. 45. Powers of directors. 46. Emoluments of directors. 47. Committee of directors. 48. Meeting of directors. 49. Notice of meetings of directors. 50. Quorum of directors.51. Consents of directors. 52. Alternates for directors. 53. Meeting of single director or single shareholder. 54. Officers and agents. 55. Standard of care. 56. Reliance on records and reports. 57. Conflict of interests. 58. Indemnification. 59. Insurance. PART VI PROTECTION OF MEMBERS AND CREDITORS 60. Meetings of members. 61. Notice of meetings of members. 62. Quorum for meeting of members.63. Voting by members. 64. Consents of members. 65. Service of notice on members. 66. Service of process, etc. on company. 67. Books, records and common seal. 68. Inspection of books and records. 69. Contracts generally. 70. Pre-incorporation contracts. 71. Notes and bills of exchange. 72. Power of Attorney. 73. Authentication or attestation. 74. Company without a member. PART VII MERGER,CONSOLIDATION, SALE OF ASSETS, FORCED REDEMPTIONS, ARRANGEMENTS AND DISSENTERS 75. Interpretation for purposes of Part VII. 76. Merger and consolidation. 77. Merger with subsidiary. 78. Effect of merger or consolidation. 79. Merger or consolidation with foreign company. 80. Disposition of assets. 81. Redemption of minority shares. 82. Arrangements. 83. Rights of dissenters.
13 Jan 2008

PART VIIICONTINUATION 84. Continuation. 85. Provisional registration. 86. Certificate of continuation. 87. Effect of continuation. 88. Continuation under foreign law. PART IX WINDING-UP, DISSOLUTION AND STRIKING-OFF 89. Definition of contributory. 90. Nature of liability of contributory. 91. Contributories in case of death. 92. Contributories in case of bankruptcy. 93. Circumstances giving rise to winding up bycourt. 94. Company when deemed unable to pay its debts. 95. Application for winding up to be made by petition. 96. Power of court. 97. Commencement of winding up. 98. Court may grant injunction. 99. Course to be pursued by court. 100. Actions and suits to be stayed. 101. Copy of order to be forwarded to Registrar. 102. Power of court to stay proceedings. 103. Effect of order on share capital of...
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