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Bahamas Banking System

Bahamas has been well-known for its privacy and security of the banking system. Recently the country has implemented changes to its long-standing history of international financial services to meet EU and OECD demands. As a result, Bahamas is a member of Tax Information Exchange Agreement (TIEA) with nearly 40 countries.

Financial services, specifically international banking are the second-most important factor to the Bahamas economy, which contributing up to approximately 17% of total GDP. Bahamas has promulgated International Business Companies Act in 1990, and subsequent initiatives to enhance the country’s status as a leading offshore financial center.

The Bahamas has a sound and well-regulated banking system comprised of domestic and large international banks from across the globe, which provides easy access to global capital markets. The central bank of Bahamas, established in 1974, pursues its legal mandate of maintaining the country financial stability.

We currently don’t support opening bank accounts in Bahamas. However, a Bahamas IBC can open its account in most offshore banks including Singapore.

Banking Options for Bahamas Company

CountryBankOnline BankingPersonal VisitCredit CardDebit CardIntial Deposit
BelizeCaye International Bank Ltd.USD 1,000
Heritage BankUSD 3,000
British Virgin IslandFirst Caribbean International BankUSD 25,000
MauritiusABC Banking CorporationUSD 5,000
Bank One LimitedUSD 10,000
Mauritius Commercial BankUSD 50,000
Investec BankUSD 50,000
Puerto RicoEuro Pacific BankUSD 500
SingaporeCiti BankUSD 300,000
DBSUSD 50,000
OCBC BankUSD 30,000
UOBUSD 100,000
UAERAK BankUSD 10,000

Required documents

  • Application forms
  • Bank statements
  • Bank reference letter
  • Certified copies of passports, address proofs of all directors/shareholders
  • Business plan
  • Business trading proofs (sales/purchase orders, invoice,etc.)
  • Certified copies of Bahamas company incorporation documents
  • Government certification of company good standing status.

Additional supportive documents beyond the listed above might be requested to open your Bahamas company bank account depending on each local regulation, your business fields and on a case-by-case basis. Please contact us to know the exact documents needed for your case.

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