It is quite possible to set up a corporate bank account in the Bahamas. The cost of the operation is 5500 EUR and the procedure can be carried out remotely. The Bahamian bank that we are bringing for your consideration is among the best financial institutions in the country. When you have an account with the bank, you can be sure that your money is perfectly safe.
If you are interested in setting up a bank account for your offshore company, trust, fund, or partnership, please get in touch with our experts and request a complex consultation on the matter. With our professional assistance, you can open a foreign bank account fast.
Bahamian banks for international clients
The word ‘Bahamas’ refers to a group of 700 islands in the Caribbean. New Providence is considered the main island of the archipelago as the capital city of Nassau is located there. The Bahamas is a true offshore jurisdiction that charges no wealth, nor inheritance, nor income tax. The banking regulations are extremely strict in the Bahamas and this goes for banking privacy and financial information confidentiality too.
The Bahamas is often compared to Switzerland that is also famous for its high level of banking privacy. You should bear in mind, however, that opening a bank account in the Bahamas can be as challenging as opening one in Switzerland.
As things stand for now, all financial institutions in the world have to conduct serious due diligence checks when taking new clients onboard. They have to contribute to the international efforts in combating money laundering, corruption, and tax evasion. Companies banking in the Bahamas have to file financial reports and their activities are closely monitored.
The Bahamian bank that we are bringing to your consideration is among the most reputable banks in the country. To retain this status, the bank will provide services only to the most reliable international customers.
If your company is engaged (or is planning to engage) in international business operations, an offshore bank account should be an indispensable part of your business structure. What makes this opportunity even more attractive is the fact that the bank account can be opened remotely. Our experts will provide qualified support to you in preparing the application documents and applying for banking services. We will answer all the questions that you may have.
We have vast experience in opening foreign bank accounts for corporate clients. With our help, you can set up a bank account in the Bahamas in a fast, secure, and confidential manner. The process is not going to take more than three weeks.
Please have a look at some other business opportunities that you can find in the Bahamas
BUSINESS IN BAHAMAS – OTHER OPPORTUNITIES
Offshore banking in the Bahamas
The geographical location of the Bahamas makes the country a convenient platform for international investments and business operations especially in the western hemisphere. The jurisdiction has been one of the largest financial centers in the world for about 80 years already. The financial sector of the economy brings up to 36% of the national GDP. One third of the top 100 banks are found in the Bahamas. All large banks have their branch offices in the country so you can get access to the international financial markets if you bank in the Bahamas.
The bank that we are promoting here was founded in 1959 by a group of American and European financial institutions. Since that time, the bank has been offering structured financial solutions to its customers as well as investment opportunities and innovative financial management technologies.
Today, the bank is one of the largest investment institutions in the Bahamas with highly qualified personnel on the staff including investment analysts, economists, managers, and traders able to suggest the most optimal investment solutions.
The range of services offered by the bank includes the following ones:
- Fiduciary and corporate services;
- Corporate accounts;
- Wealth management;
- Investment portfolio management;
- Broker’s and savings accounts;
- Services to shareholders;
- Cryptocurrency trade and management, and so on.
To improve your chances of setting up a foreign bank account, please apply for ourPRE-APPROVAL service. Acquire a provisional approval of your application for banking services before submitting the entire application document package.
How to open a corporate bank account in the Bahamas
The initial deposit requirement that the Bahamian bank puts forward is 1 million US dollars. If the account is actively used later on for various financial operations, the security balance can be lowered.
In addition to the corporate account, you can also open accounts of the following types with the bank:
- Merchant account;
- Broker’s account;
- Investment account.
Affluent clients can manage their assets kept with the bank with the help of a trust. This will protect your capital from sanctions and foreign creditors and the income can be distributed to the trust beneficiaries in any way you choose.
Documents required for setting up a corporate bank account in the Bahamas
You have to collect the following documents when applying for banking services in the Bahamas and opening a corporate account there:
- Personal documents (for company owner and account signers):
- Completed and signed application forms for corporate account opening;
- A passport copy (with the photograph and the signature);
- A second ID card with a photograph;
- A copy or the original of a utility bill or a bank statement to serve as proof of address.
- Corporate documents:
- Certificate of Incorporation (copy);
- Memorandum and Articles of Association (copy);
- Register of company directors and managers;
- Certificate of Good Standing (copy) if the company has been in existence for more than six months;
- Minutes of the Board of Directors meeting where the resolution to open a corporate bank account in the Bahamas was made; a list of account signers and authorized users;
- Signature samples for account signers.
- The certification guidelines suggest that the certificate can be issued by an attorney, an accountant, a notary public, or a corporate registrar; the document has to be notarized and it shall contain the following information:
- Full name and position of the person issuing the certificate;
- Signature of the person issuing the certificate;
- The name of the organization issuing the certificate;
- Email address and / or telephone number;
- The certificate issuance date.
- Additional application documents:
- Legalized residence permits (if applicable);
- Company directors résumés;
- Confirmation of the sources of capital that is going to be used for making the initial deposit (three of the most recent financial reports);
- Source of wealth confirmation (audited financial reports for the last three years);
- Information about the company, its beneficial owners, representatives, commercial activities, client groups, turnover amounts, net worth, prospective activities with the bank account and the purposes of setting up a corporate account with the Bahamian bank.
Please note that the signature samples have to be identical to the signatures in the passports.
Please also note that all the application documents have to be in English and not more than 2 months old.
Banking services in the Bahamas for international corporate clients
When providing services to corporate clients, the Bahamian bank takes into consideration the goals and desires of the company owners as well as the specifics of its business activities. The bank managers will offer complex solutions that meet the client’s requirements and that are optimal from the viewpoint of the company’s tax residence. All the recent changes in the taxation system are accounted for.
The bank administration wants to establish relationships of trust with each client. All the interactions with the bank managers are going to be transparent and every effort will be taken by them to build up a long-term relationship.
The Bahamian bank offers the following services to facilitate wealth management:
- Fiduciary services – you can create a trust and appoint a trustee;
- Funds – you can create a fund and use the services of a fund agent, secretary, nominee representative, and protector.
- Family office – you can acquire wealth management services for several families and several generations; besides, you can acquire estate management services and manage all other assets via trusts;
- Corporate services include the following ones:
- Creation, structuring, and administration of funds;
- Establishment of companies in several jurisdictions;
- Directors and managers’ services as well as registered agents, registered addresses, and nominee shareholders;
- Corporate account management and recurrent payments.
- Investment management services:
- Creation and management of an investment portfolio;
- Asset valuation for effective portfolio set-up;
- Direct investments and private shares;
- Management of capital and securities;
- Advertisement campaigns – publications in Bloomberg, FT, Morning Star, and other media.
- Insurance services – life insurance, business insurance, digital assets insurance, etc.;
- Additional paid services for corporate clients:
- Debt financing;
- Mergers, sales, and acquisitions;
- Trading in securities – maximum profits with acceptable degrees of risk.
- Shareholder services:
- Formation and maintenance of a shareholder register in keeping with the KYC requirements;
- Maintaining contacts with all investors and preparing reports;
- Financial operations management (contributions to charity, transfers, debt repayment, etc.).
- Broker’s and savings accounts with the Bahamian bank:
- Money operations management, currency exchange, and hedging;
- Cash transactions, escrow accounts, and deposits for trusted agents;
- Safekeeping of the capital, online accounts security, and reports on completed transactions;
- Business operations with all types of assets and at a high level of competitiveness.
- Tax report preparation on the basis of monthly reports kept throughout the year.
- Acceptance of interests and dividends into the bank account.
In addition to a corporate account, you can open a personal account with the Bahamian bank. There you will find a high level of asset protection and efficient risk management.
The procedure of remote opening of a corporate bank account in the Bahamas
- If you would like to set up a corporate bank account in the Bahamas without personally participating in the process, please write to firstname.lastname@example.org and request a free professional consultation on opening a foreign bank account.
- If you are happy with our terms and conditions, you have to cover the cost of our services. The cost of service starts at 5500 EUR and the payment can be made with a credit card, a bank transfer or via PayPal, Western Union, WebMoney, etc. In addition to fiat currencies, we accept Bitcoin and other cryptocurrencies.
- After that, you will have to submit the application documents listed above. We will help you fill out all the bank forms and then launch the process of account opening. When the process is completed, we will let you know and you can start using your corporate account in the Bahamas.
If you have any questions pertaining to setting up a corporate bank account in the Bahamas, please contact us without hesitation. We always reply promptly!