Exempted Limited PartnershipBahamas
What it takes to form, own and run a limited partnership in Bahamas, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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one or more persons called general partners who shall, in
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one or more persons called general partners who shall, in
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No partnership limited or otherwise shall be an exempted limited partnership unless registered as such in accordance with subsection (1) of section 9.
The registry’s and the law’s own pages do not mention it.
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shall not be subject to any business licence fee, income tax, capital gains tax or any other tax on income or distributions accruing to or derived from such partnership
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Not stated
The registry’s and the law’s own pages do not mention it.
What it takes to form
- A notary
- Not required
- A resident director
- Does not apply
- Paying up the capital
- No minimum contribution is stated; each partner's contribution is recorded in the register of limited partnership interests (s.11(1)), and a limited partner may not take a return of contribution unless the partnership is solvent (s.14(1)).
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a register in writing on one or more sheets whether bound or unbound and there shall be set forth therein the name and address, amount and date of the contribution or contributions of each partner
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
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one or more persons called general partners who shall, in
- A local company secretary
- Does not apply
- A local registered agent
- Not required
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Every exempted limited partnership shall have a registered office situate in The Bahamas for the service of process
Each year, at the registry
- Annual registry fee
- Not stated
The registry’s and the law’s own pages do not mention it.
- Accounts on the public record
- No
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shall cause reliable accounting records to be kept in relation to
- Audit for a small company
- Not required
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shall cause reliable accounting records to be kept in relation to
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- Annual return signed by a general partner, with the annual fee
- 31 January
With Registrar General
Due on or before 31 January each year after the year of registration.
What is public
- Shareholders
- Public
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The register described in subsection (1) shall be open to inspection by any person during all usual business hours.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
No tax on profit · 0%+3 regimes
An exempted limited partnership or a partner is not subject to any business licence fee, income tax, capital gains tax or any other tax on income or distributions from the partnership (s.17(1)).
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shall not be subject to any business licence fee, income tax, capital gains tax or any other tax on income or distributions accruing to or derived from such partnership
Special regimes that may apply
- Grand Bahama (Port Area) Investment Incentives Act (Chapter 261A) — concessions for investing in the Port Area free zone · 100% exempt
A licensee of the Grand Bahama Port Authority carrying on or intending to carry on business in the Port Area who owns developed land, owns less than five acres of undeveloped land, or is a non-Bahamian owning five acres or more, and is approved by the Minister on the Investment Board's recommendation Grand Bahama (Port Area) Investment Incentives Act (Chapter 261A), sections 3, 4 and 8 - The Bahamas Investment Incentives Act (Chapter 328) — approved developer and licensee benefits in development zones free zone · 100% exempt
An approved developer of a development zone, and a licensee carrying on an approved enterprise in the zone The Bahamas Investment Incentives Act (Chapter 328), section 7 and the Third Schedule - International Business Companies Act (Chapter 309), section 187 — exemption from certain taxes free zone · 100% exempt
A company incorporated or continued under the Act, and its members and shareholders, provided no Bahamas resident within the Exchange Control Regulations Act is a beneficial or legal owner or has an interest in its securities International Business Companies Act (Chapter 309), section 187
Whether a company qualifies depends on its activity and conditions set in each statute.
- CFC rules in Bahamas
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- A partnership is not dissolved by an act of the partners until a notice of dissolution signed by a general partner is filed with the Registrar (s.15(1)); the court may decree dissolution on application (s.15(2)); the loss of the sole or last general partner dissolves it at once (s.15(3)).
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An exempted limited partnership shall not be dissolved by an act of the partners until a notice of dissolution signed by a general partner has been filed with the Registrar.
- Statutory fee
- Not in our records
Every business in Bahamas
VAT
- Standard rate
- 10%
Standard rate 10%, zero rate 0% (Department of Inland Revenue). Its FAQ still shows a Customs example at 12% (the earlier rate); the About and rate answers on the same site and the 2024 Act reprint give 10%.
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Two rates of VAT are applied which is the standard rate of 10% and a zero rate of 0%.
- Other rates
- 0% Goods exported or supplied to customers abroad
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Conversely goods exported supplied to customers abroad are exempted or zero-rated.
- Registration threshold
- BSD 100,000
taxable activity turnover; any past or future 12 months of taxable activity
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You are required to register for and charge VAT under the VAT Act if your past or future 12 months of taxable activity exceeds the $100,000 threshold.
- Voluntary registration
- Yes
A business below the BSD 100,000 threshold may register voluntarily and then has all the obligations of a mandatory registrant; the Controller wants evidence of a fixed place of business, a taxable activity, proper records and willingness to file returns (Department of Inland Revenue FAQ).
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Yes, you can choose to register voluntarily. You will be required to fulfill all of the obligations of a Mandatory Registrant.
- A foreign company
- See the note
The VAT Act (reprint of 1 July 2024) s.19(1)(e) requires a person domiciled within or outside The Bahamas who provides telecommunication services or electronic commerce to persons for use in The Bahamas to register regardless of the registration threshold, within fourteen days of starting the activity (s.19(3)(c)). That rule covers those services only; the pages read state no rule for non-resident suppliers of goods or other services and no rule that a tax representative must be appointed.
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(e) is domiciled within or outside The Bahamas to the extent such person provides, either directly or through an agent, telecommunication services or electronic commerce to persons for use, enjoyment, benefit or advantage within The Bahamas, regardless of the registration threshold.
- Returns filed
- Depends on the business
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As at January 1, 2017 VAT returns must be filed online within 21 days of the end of each tax period.
- Tax authority
- Registration page read 2026-10-22
Payment and banking services
None of the services whose lists we hold names Bahamas. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Limited partnershipDerived our grouping, the same words in every country
- Name in law
- Exempted Limited Partnership
- ISO 20275 code
- SQ8USecondary GLEIF, Entity Legal Forms code list