Client Memorandum - Incorporation Of A Bahamian Company

This memorandum deals with the incorporation of a company in The Bahamas under the Companies Act, Chapter 279 : -

NAME

The first matter to attend to is the reservation of a name with the Registrar General for the purpose of obviating any similarity in name to that of an existing company. We would suggest that a choice of at least three (3) names be given in order of preference. There are certain restrictions on the use of names which suggest patronage of the Royal Family or that the company is a bank or insurance company.

EXCHANGE CONTROL

[This section is relevant only in cases involving Non-Bahamian participation]

No company can be incorporated in The Bahamas having non-Bahamian participation without the prior approval of the Exchange Control Department of The Central Bank of The Bahamas. The purpose of that department is to monitor the flow (especially outflow) of foreign currency.