The Value Added Tax (“VAT”) Act was amended in 2024, giving rise to the Real Property Declaration (“Declaration”) under Section 47B. This section imposes an annual reporting obligation on your registered agent, H & J Corporate Services Ltd. (“H&J Corp.”).
Section 47B Real Property Declaration mandates that, H&J Corp., as your Registered Agent, be notified if the company:
- acquires, assigns or otherwise disposes of any Bahamian real property; or
- owns Bahamian real property and is aware of any transaction that indirectly changes the beneficial interest in the property (e.g. any change in shareholding or beneficial ownership of either the company or any Bahamian or foreign entity that has an ownership interest in the company).
This Declaration affects entities incorporated, registered, or continued under the following Acts (the “Relevant Acts”):-
- Companies Act, 1992 (including foreign companies registered under this Act); and
- International Business Companies Act, 2000
Therefore, please complete the H&J Corp. Property Declaration and Indemnity form below.
If you have selected “YES” on the H&J Corp. Property Declaration and Indemnity form please then complete the Registered Agent Declaration Form, provided by the Department of Inland Revenue (DIR) and return by 25 June 2025 to annualreviews@hjcorporate.com.
