Bahamas - Starting a Co-Operative OR Registration of Co-Operative Society

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Procedure

Apply In-Person:

1. To start a Co-Operative Society, the interested parties must approach the Department of Cooperative Development. Contact : Link.
2. The “Registration Package” containing the application form, can be collected from the office.
3. The application form can also be downloaded from here: Link
4. The registration package must be completed and submitted in duplicate to the Department of Cooperative Development with the appropriate fees.
5. Family Island applicants may submit the registration package to the Local Family Island Administrator.
6. The application will be reviewed by the Director of Societies.
7. Once approved, the director issues a certificate of Registration.
8. The director may also request additional information.
9. The applicant is informed in writing that the certificate is ready for collection.

Please note:

• In the event that the proposed cooperative is without an address at the time of the application, the application form may be submitted in care of any person listed on the form.

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Required Documents

• Feasibility study
• A proposed set of cooperative by-laws
• A business development plan
• Names of steering committee members (producer/service cooperative a minimum of 10 names, credit union 30 names)

Office Locations & Contacts

Cooperative Development
P.O.Box N-3028
Levy Building
Bay Street East
Nassau, New Providence
The Bahamas
Tel.(242) 356-3152-4 or 323-6605
Fax.(242) 356-4622
E-mail: [email protected]
             [email protected]
Contact : Link

Opening hours: 9:00 am to 5:00 pm, Monday to Friday, except public holidays.

Eligibility

Members of cooperative societies must be at least sixteen (16) years of age, except in the case of a junior or school cooperative.

Fees

A BS$25.00 application fee is payable upon submission of the completed application form.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

The Co-Operative Societies Act 2005, Application For Registration:
Link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

Application for Registration of a Cooperative Society is processed within one month.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• The registration package must be completed and submitted in duplicate.
• Cooperative by-laws represent an agreement between members concerning the cooperative’s aims, objectives and rules of operation, and they provide a sound legal basis of operation.

Required Information

• The name of the Society
• The registered address
• The area of operations of the Society
• The objects of the Society as stated in the bye-laws
• The bond of membership
• The financial year will terminate on (each year)
• The liability of the members for the debts of the Society
• Date on which Society was established
• Members in the Society
• Particulars relating to the applicants

Need for the Document

In accordance with the Cooperative Societies Act 2005 & Cooperative Societies Regulations 2012 (Proposed) all cooperative societies must be registered by the Director of Societies.

Information which might help

Click on the following link to know more about Starting a Co-Operative: Link

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Link

Others

More information which might help people.