Passive Investment Funds Exempt from New Bahaman Licensing Fees

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Last week the Bahamas government introduced the payment of a new licensing fee for international business companies (IBCs) registered on the island. The Bahamian finance minister has followed up the release after receiving feedback from concerned companies. He clarified that payment will only be necessary if they are subject to the new economic substance regulations that are starting to mandate having physical presence in the jurisdiction.

Additionally, the new fees will reportedly not be applicable to IBCs that are actively being used only for passive holding vehicles for investment, property and similar assets.