Bahamas
The Bahamas, an archipelago of 700 islands and 2,400 cays in the Atlantic Ocean, is a tropical paradise renowned for its crystal-clear turquoise waters, white sandy beaches, and vibrant coral reefs. A popular tourist destination, the country offers a blend of luxurious resorts and pristine natural beauty. Bahamian culture, with its colorful traditions, music, and cuisine, is as inviting as its warm climate. With a strong tourism and offshore banking sector, the Bahamas boasts a robust economy and a relaxed lifestyle, making it a haven for travelers and investors alike.
Banking in Bahamas
The Bahamas, a hub of international finance, offers a sophisticated banking sector amidst its idyllic beaches. Known for its stability and privacy, Bahamian banks cater to both local residents and international clients, providing a wide array of financial services.
History
Bahamas' banking history reflects its emergence as a global financial center. Over the years, it has evolved into a robust industry, attracting investors with its progressive policies and secure banking environment.
Banking Institutions
Bahamian banks are distinguished by their professionalism and diversity of services. Both local and international institutions operate here, offering tailored solutions, personalized services, and wealth management expertise to clients.
Laws and Regulations
The Bahamas maintains strict banking regulations overseen by the Central Bank of The Bahamas. These regulations ensure the stability and integrity of the financial sector, fostering confidence among investors and clients alike.
Bank Secrecy
The Bahamas upholds client confidentiality, adhering to stringent privacy laws. While privacy is safeguarded, the jurisdiction also complies with international standards, allowing for legal disclosures when required, maintaining a delicate balance between privacy and regulatory transparency.
Electronic Payments
Bahamian banks are at the forefront of electronic payment systems, ensuring seamless domestic and international transactions. Modern technologies and secure networks facilitate electronic payments, offering convenience and efficiency to businesses and individuals.
Banking Facilities
Bahamas' banks provide comprehensive banking facilities, including multi-currency accounts, online banking, credit and debit cards, and international wire transfers. These facilities cater to the diverse needs of clients, whether they are local entrepreneurs, international investors, or tourists, enhancing their banking experience in this tropical financial haven.
Which documents are needed to open a bank account?
The Bank is required to confirm the identity and address of all clients opening bank accounts. The following documents are required for each signatory and beneficial owner and will be treated as confidential:
- Notarised Passport copy
- Original Certificate of residence or last tax statement (not older than 3 months )
In case of corporate bank accounts, the bank will also request a set of certified corporate documents consisting of:
- The Certificate of Incorporation
- The Memorandum and Articles of Associations
- Register of Shareholders and Directors
- Signed Share certificates
- A Certificate of Good Standing or Certificate of Incumbency if the company is older than 12 months
- Latest Audited Account/Corporate Profile, if available
The bank can request any additional information and/or documents at its discretion such as Business plan, CV, Invoices, Agreements/Contracts of existing company and the Client must comply with the bank requirements.
We will send you the additional bank forms necessary for opening the account by email, as an attachment, for you to sign and return to us preferably by special courier ( DHL, FedEx or Chronopost), along with the other documents mentioned above.
