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Open bank account for
Bahamas Company
How to open a business account for
Bahamas Companies
Regardless of what type of business you are operating, it is a golden rule that you should separate your personal and corporate finances. Hence, setting up a business bank account is always in need. For Bahamas companies, there are various banking options to set up a business account:
Application with local banks in Bahamas
The 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, the Bahamas is a member of the 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 contributes up to approximately 17% of the total GDP. Bahamas 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's financial stability.
Be advised that some brick-and-mortar banks don't accept opening a business account online.
Going for offshore bank accounts or fintech solutions
We currently don’t support opening bank accounts in the Bahamas. However, a Bahamas IBC can open its account in most offshore banks including Singapore.
Wonder which can be the best bank for your Bahamas company? Let's find out with our Banking Tool
Banking Options for Bahamas Company
| Country | Bank | Online Banking | Personal Visit | Credit Card | Debit Card | Initial Deposit |
|---|---|---|---|---|---|---|
| Belize | Belize Bank | US$4,000 | ||||
| Caye International Bank Ltd. | US$1,000 | |||||
| Heritage Bank | US$3,000 | |||||
| British Virgin Islands | First Caribbean International Bank | US$25,000 | ||||
| Mauritius | Mauritius Commercial Bank | US$50,000 | ||||
| Investec Bank | US$50,000 | |||||
| Singapore | HSBC | US$200,000 | ||||
| UOB | US$100,000 | |||||
| UAE | RAK Bank | US$10,000 |
**Initial deposit is often blocked in the offshore bank account; if so, this amount is often small.
However, banks in Hong Kong and Singapore do not freeze this amount, so you can use it freely. But you will be charged an additional fee for not maintaining your account above min balance.
Belize Bank
Initial Deposit
US$4,000
Caye International Bank Ltd.
Initial Deposit
US$1,000
Heritage Bank
Initial Deposit
US$3,000
However, banks in Hong Kong and Singapore do not freeze this amount, so you can use it freely. But you will be charged an additional fee for not maintaining your account above min balance.
Need more references? Here is a Banking Tool to make your decision easier!
Try NowRequired Documents
Application forms
Bank statements
Bank reference letter
Certified copies of passports, proofs of residence of all directors/shareholders
Business plan
Company business evidence (sales/purchase orders, invoices, etc.)
Certified copies of your 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 get in touch with us to know the exact essential documents for your case.
