Registering with the Registrar General's Department. Meeting the annual filing needs to maintain good standing.Bahamian International Business Companies are commonly used as holding companies, to hold bank accounts, financial and commercial titles, international trading. Under the New York Business Corporation Law, corporations are required to hold at least one shareholder meeting each year. General will generally require the corporation to register and file all required annual financial reports before completing its review. If a religious school wishes to be independent, it may obtain a charter and have separate incorporation as an educational corporation, but this is not required.