Overview
| Field | Value |
|---|---|
| Region | Latin America |
| ISO 3166-1 | BS / BHS |
| Registry | Registrar General’s Department |
| Last updated | 2026-05-06 |
Identifiers
Collect two identifiers from each business customer in Bahamas and submit them as strings on the application body.| API field | Local name | Issuer |
|---|---|---|
businessInfo.taxId | Business Licence Number / VAT TIN | Department of Inland Revenue (DIR) |
businessInfo.businessEntityId | Company Registration Number | Registrar General’s Department |
Sector regulators
CBBAH · SCB · ICB · FIU
Legal structures
| Local name | Abbreviation | Description |
|---|---|---|
| Public Company Limited by Shares | Plc | Incorporated under the Companies Act 1992 (Cap. 308); shares freely transferable and may be listed on an exchange; governed by a board of directors with public filing obligations at the Registrar General’s Department. Closest US equivalent: C-Corp. |
| International Business Company | IBC | Incorporated under the International Business Companies Act 2000 (Cap. 309); widely used for cross-border holding, trading, and financing; register of members is not public; shares may be of any class. Closest US equivalent: C-Corp. |
| Private Company Limited by Shares | Ltd. | Incorporated under the Companies Act 1992 (Cap. 308); share transfer restricted by articles; closely held with a cap on members; the default SME incorporation vehicle for domestic business. Equivalent to a US LLC. |
| Limited Liability Company | LLC | Formed under the Limited Liability Company Act 2016; member-managed or manager-managed; no share capital requirement; combines corporate limited liability with partnership-style pass-through flexibility. Equivalent to a US LLC. |
| General Partnership | — | Two or more persons carrying on business together with unlimited joint and several liability; registered with the Registrar General’s Department under the Partnership Act. Closest US equivalent: General Partnership (GP). |
| Limited Partnership | LP | One or more general partners with unlimited liability and one or more limited partners whose liability is capped at their capital contribution; registered under the Partnership Act. Closest US equivalent: Limited Partnership (LP). |
| Exempted Limited Partnership | ELP | Formed under the Exempted Limited Partnership Act; designed for offshore private equity, venture capital, and fund structures; general partner bears unlimited liability while limited partners are shielded. Closest US equivalent: Limited Partnership (LP). |
| Sole Proprietorship | — | A single individual trading on their own account; no separate legal entity; must obtain a Business Licence under the Business Licence Act and register any trading name other than the owner’s own name with the Registrar General’s Department under the Registration of Business Names Act. Equivalent to a US Sole Proprietorship. |
| Foundation | — | A separate legal entity established under the Foundations Act 2004; has no shareholders or members; used for private wealth management, estate planning, and asset protection; registered with the Registrar General’s Department. Closest US equivalent: Statutory trust or business trust. |
| Segregated Accounts Company | SAC | An overlay structure under the Segregated Accounts Companies Act 2004; a company (domestic or IBC) may register segregated accounts whose assets and liabilities are ring-fenced from one another; primarily used for captive insurance and investment funds. Closest US equivalent: Series LLC. |
| Branch of Foreign Company | — | A foreign corporation registered to conduct business in The Bahamas under the Companies Act 1992 (Cap. 308) Part X; not a separate legal entity — the foreign parent remains fully liable. Closest US equivalent: foreign corporation branch/representative office. |
How documents combine
For each evidence area, this table shows whether the listed documents are alternatives (any one of) or a bundle (all required). The artifact-by-artifact lookup follows below.| Evidence area | Documents needed |
|---|---|
| Legal Registration | Certificate of Incorporation |
| Constitutive Documents | Memorandum & Articles of Association |
| Tax Registration | All required: Business Licence + VAT Certificate |
| Operating Permit | Business Licence |
| Ownership Records | Register of Members |
| Governance Records | Register of Directors |
| Signing Authority | Any one of: Board Resolution · Power of Attorney |
| Address | Any one of: Lease Agreement · Utility Bill · Bank Statement |
| Good Standing | Certificate of Good Standing |
Documents to collect
The physical documents you’ll collect from your customer, with the evidence area each one proves. One document can prove multiple areas — for example, Brazil’s Cartão CNPJ covers both tax and business-registration proof, so it appears once with both areas listed.| Document | Proves |
|---|---|
| Certificate of Incorporation | Legal Registration |
| Memorandum & Articles of Association | Constitutive Documents |
| Business Licence | Tax Registration, Operating Permit |
| VAT Certificate | Tax Registration |
| Register of Members | Ownership Records |
| Register of Directors | Governance Records |
| Board Resolution | Signing Authority |
| Power of Attorney | Signing Authority |
| Lease Agreement | Address |
| Utility Bill (≤90 days old) | Address |
| Bank Statement (≤90 days old) | Address |
| Certificate of Good Standing | Good Standing |
Collection notes
- Legal Registration: Issued by RGD under Companies Act Cap. 308 or IBC Act 2000; includes company name, registration number, and date of incorporation.
- Constitutive Documents: Filed with RGD at incorporation; constitutive document setting out name, objects, share capital, and governance rules.
- Tax Registration: Business Licence (mandatory for all operators, Business Licence Act 2023); VAT Certificate with TIN issued by DIR where taxable supplies ≥ BSD 100,000/year.
- Operating Permit: Issued by DIR under the Business Licence Act; required for any person operating a business in The Bahamas.
- Governance Records: Maintained by company; for domestic companies, directors are on public record at RGD; for IBCs, directors are registered but register of members is not public.
- Signing Authority: Board resolution authorizing a signatory, or notarized POA; no statutory form prescribed — company letterhead resolution standard practice.
- Address: Lease (no time bound) OR utility bill OR bank statement, with utility/bank dated within 90 days. Same evidence satisfies both registered-address and operating-address checks.
- Good Standing: Issued by RGD for both domestic companies (Companies Act Cap. 308) and IBCs (IBC Act Cap. 309); confirms active status and compliance with annual formalities and fee obligations. Requested directly from RGD; processing 20–30 working days.
Person roles
When you submit a person on the application body, set theirrole to one of Conduit’s canonical BusinessPersonRole values. Use this table to map a local corporate-governance title onto the right canonical role.
| Local role | Canonical API role | Description |
|---|---|---|
| Director | CONTROLLING_PERSON | Appointed officer with day-to-day executive authority; named in Register of Directors. |
| Attorney / Agent (POA holder) | LEGAL_REPRESENTATIVE | Authorized via power of attorney to act on behalf of the company. |
Notes
- The IBC structure (Cap. 309) is distinct from domestic companies (Cap. 308): IBC registers of members are not public; the Certificate of Incorporation and Memorandum & Articles are the primary KYB anchors.
- Commercial Entities (Substance Requirements) Act 2018 (CESRA): entities conducting “relevant activities” (banking, insurance, fund management, financing, leasing, HQ, shipping, IP) must demonstrate economic substance and file annual returns with DIR; non-compliance risks striking off the register.
- Domestic Minimum Top-Up Tax (DMTT Act, 2024 — effective 1 January 2024): MNE groups with consolidated revenues ≥ EUR 750 million in two of the preceding four years that have constituent entities in the Bahamas are subject to a 15% QDMTT on Bahamian profits. All Bahamian entities in an in-scope group are jointly and severally liable. In-scope entities register via the ‘One Tax Bahamas’ portal (live from 1 June 2026) and receive a Business Identification Number (BIN); this BIN is a distinct identifier from the Business Licence number and VAT TIN. Business licence taxes paid may be credited against DMTT due (Business Licence Amendment Act, 2025). The DMTT is the only direct tax in the Bahamas; entities outside in-scope MNE groups remain in a no-CIT jurisdiction.