We invite you to consider the opportunity of opening an account with a bank in the Bahamas. This is one of the most reliable offshore banks and it offers a high degree of protection for your money. The economic and political situation in the world is currently unstable and the banking services in the Bahamas are sometimes compared to the banking services in Switzerland: keeping money in both jurisdictions is equally safe.
The international de-offshorization campaign and the global fight for transparency of financial transactions have decreased the levels of banking privacy all over the world. At the same time, the leading banks still offer highly efficient mechanisms of asset protection and capital management. The Bahamian bank that we are advertising here is certainly one of such banks.
You can open a personal bank account in the Bahamas without ever going there – from the comfort of your home! If you are interested in setting up a foreign bank account in another jurisdiction, please request a professional consultation from Offshore Pro Group experts.
Products and services that the Bahamian bank offers
Banking in the Bahamas is an option that suits well-to-do individuals. Offshore banks in the Bahamas often have higher levels of capitalization compared to many European banks. Besides, they offer a larger number of focused services and better interest rates on fixed-term deposits and savings accounts.
The Bahamian bank offers a wide range of services including the following ones:
- Fiduciary services;
- Discretionary investment management;
- Wealth planning and structuring;
- Family office management;
- Portfolio management and many other banking services.
The Bahamian bank is an independent financial institution licensed by the Central Bank of the Bahamas. It provides services to individual and corporate clients from different countries of the world. The official language in the country is English but client support is also available in several other national languages.
Please take a look at some other banking opportunities that you can find in the Bahamas
BANKING IN BAHAMAS – OTHER OPPORTUNITIES
A personal current account with the Bahamian bank
This opportunity should be of interest to you if you are an affluent individual. With the Bahamian bank, you will find security as well as some fantastic instruments for growing your wealth.
The minimum initial deposit amount is one million dollars. The required security balance amount is the same. If the account holder actively uses the account and makes numerous transactions, the security balance can become lower with time. As far as the security balance for cryptocurrency accounts is concerned, there are no set limits. Every case is treated individually.
Documents required for opening a personal account with the Bahamian bank
The account holder as well as all other account signers (if any) have to submit the following application documents:
- Printed out, completed, and signed application forms for account opening;
- A passport copy (the page with the photograph and the signature);
- A second ID with a photo;
- A proof of residential address such as a recent utility bill or a bank statement that carries the personal name and address.
The documents serving as proof of address shall be two months old or less. All the application documents shall be in English (translated and notarized if necessary). The signatures on the application documents have to match the signatures in the passports.
Services that the Bahamian bank offers to individual clients
The bank has been providing high-quality financial services to wealthy private individuals, families, and corporations for over 50 years. Below please find a non-exhaustive list of banking services that can help you protect your assets and perform various financial operations including operations with securities and digital assets in 2023:
- Safekeeping of capital;
- Deposits in all major currencies;
- Trading and brokerage services;
- Investment solutions;
- Lombard lending;
- Credit and prepaid cards;
- Concierge services.
If you would like to learn more about other opportunities to open a bank account in a foreign country, please follow the link.
Family office service
Individual clients are welcome to apply for the Family Office service. A Family Office will help you manage your family assets in the most efficient manner. The Office can be put in charge for recurring payments, for example, and other regular financial operations. Besides, you can gain access to the following opportunities through the Family office:
- Concierge services;
- Consultations on asset diversification and growth;
- Consultations on real estate, precious stones and metals, and works of ort.
Please learn more about what a Family Office is by following the link.
Wealth structuring and planning
The specialists working for the Bahamian bank can develop long-term wealth planning strategies for the clients. Depending on your top priorities, the bank officers can consult you on the issues related to asset protection, taxes, or inheritance planning. They will invite tax counselors and professional attorneys should the need arise.
The Bahamian bank has been counseling its customers on investment management for many years. Opening a personal account with the bank, you can invest in the state and the private sector of the economy. You can have access to the following opportunities:
- Investment portfolio management;
- Investment market research;
- Consultations on investments;
- Direct investments;
- Investment funds;
- Return on investment analysis.
If you would like to use your bank account for investments, the bank officers will conduct diligent market research for you, which will help you avoid unnecessary risks. They will analyze various macro- and microeconomic indicators.
Trade in securities
The Bahamian bank holds a license from the State Securities Committee and you can use your account with the bank to trade in securities. The bank can act as the administrator of your trading operations. It also offers an opportunity to create a private SMART fund, which will spare you a lot of red-tape trouble.
The fund is an individual enterprise for every client and it serves his/ her personal investment objectives. The fund can be created in a fast manner so you can start making low-risk investments in securities right after you set up a personal account with the bank.
In certain cases, the investment portfolio becomes more powerful if the amounts of investments are large. The bank can facilitate raising additional funds by attracting other investors and joining several capital flows. The fund will serve as the administrator of the joint investments, manage the investment processes, and solve all issues that may arise in the process. The settlor of the fund has wide authority in appointing the fund managers and administrators and determining the scope of their authority in decision-making.
Credit cards from the Bahamian bank
You can order a credit card in any currency from the Bahamian bank and use it in any country of the world. The most popular currency for a credit card in the Bahamas is the US dollar that can be easily exchanged in other currencies.
You will find numerous ATMs on large Bahamian islands such as New Providence, Grand Bahama, or Great Abaco, for example. However, smaller islands will have fewer ATMs and some of them will have none. If you want to withdraw cash from your credit card in the Bahamas, you will get Bahamians dollars that are equal in value to US dollars. In some tourist areas with many casinos you can withdraw American dollars from ATMs.
American Express cards
Individual customers of the Bahamian bank can order American Express credit cards. This is one of the most popular payment instruments in the world. The cards are accepted in a great number of countries. Several priority American Express cards are also available to the bank clients.
Cards of different types will have different interest rates, cashback options, and other bonus programs. If you want to withdraw cash in a foreign country (a country other than the Bahamas), you may have to pay an interest of 1% to 4%.
Prepaid cards from the Bahamian bank
The Bahamian bank issues Prepaid cards T24 by VISA, emitted by Great Britain. You can add money to your prepaid card account, withdraw cash from ATMs carrying the VISA logo, or use the card to pay for products and services. You can manage your card account via the Internet or mobile applications.
If you are interested in acquiring an anonymous pay card, please explore the opportunity of applying for a China UnionPay multi-currency card. You don’t have to pay a personal visit to any bank office to acquire the card.
The Prepaid card T24 from the Bahamian bank is accessible round-the-clock and it brings the following advantages:
- It is a reliable payment instrument that allows paying for goods and services as well as withdrawing cash.
- You can spend as much money as you have out on your card account.
- There is no overdraft risk nor threats to your credit reputation.
- You can use the card in many different countries.
- The Internet banking application comes free of charge.
The prepaid card is ideal for the following purposes:
- Managing the expenditures of family members (this is especially relevant if you have teenage children: they cannot spend more money than they have on their cards);
- Paying tuition fees;
- Taking no bank loans;
- Not spoiling your credit history.
The prepaid card also comes in several types and depending on the degree of priority, you can enjoy different additional services and opportunities.
The procedure of opening a personal bank account in the Bahamas
- Please contact us at email@example.com and request our professional assistance in setting up a foreign bank account from the comfort of your home.
- If you are satisfied with our terms and conditions, you can cover the cost of our services by making a bank transfer, using your credit card or a payment system such as PayPal or Western Union, for example. Please note that we accept payments in Bitcoin too. The cost of this service is 3,500 EUR.
- When we have all the application documents, we will file an application for account opening with the help of our agents in the Bahamas. When the account is opened, you can start using it.
The timeframe of opening a personal bank account in the Bahamas is 3 weeks minimum .
If you have any questions pertaining to setting up a personal account with the Bahamian bank, please don’t hesitate to contact us at firstname.lastname@example.org.