The Bahamas has become more than just a country to visit for our vacations, it is also an excellent option to start profitable and secure financial projects. In this article we want to display the advantages, especially in the banking sector, that a jurisdiction like the Bahamas can offer you, and the opportunity to open a legal and personal bank account in the most solid and competitive private bank in the world. We will also mention the requirements to open a private bank account in this country.
Over the years, this country has undoubtedly earned a great reputation for its banking sector. Some of the elements that have helped to obtain this image are the country's stable economy and the fact that they give great importance to their pro-business policies. Making it one of the top choices for many entrepreneurs and investors around the world.
Opening a bank account in the Bahamas or in a jurisdiction other than your own can provide you with certain benefits such as diversification, opportunities for new clients and suppliers, as well as extremely good rates.
Thanks to the good image they have gained worldwide, they have excellent relationships with world renowned banks. This is the reason why they have the opportunity to offer their clients a wide variety of financial tools and products, adapting to all their needs
Now let's talk about the requirements. We will mention the basic ones, which may vary depending on the bank. The first requirements we are going to mention are:
Legal bank accounts can be opened for domestic (Bahamian) and foreign legal entities from anywhere in the world. Among the documents to be submitted we can mention:
1. Submit the company incorporation documents duly translated into English by a certified translator.
2. A copy of the current passports of the members of the Board of Directors and of the Shareholders of the company.
3. A document that can certify the address or domicile of the shareholders and directors, for example: electricity, water or telephone bill. Remember that it must be translated into English in case it is in another language by an authorized translator.
4. Financial Statements and company information materials. In other words, at least the financial statements for the last two years must be duly translated into English by a qualified translator.
5. Minimum opening amount: 500,000 USD (five hundred thousand US dollars).
1. Copy of valid passports.
2. Evidence of income.
3. Bank references.
4. Document certifying the domicile of the shareholders and directors.
All of the above documents must be translated into English by a qualified translator whenever the originals are in a language other than English. The standard also requires that all these documents be submitted to us certified by a lawyer, accountant or person of prestige. It does not have to be a notary.
Based on all the information we have shared in this article you can't think twice about opening your private bank account in the Bahamas, it is definitely a very good option for all those who are investors. If you are interested in opening a bank account in the Bahamas, do not hesitate to contact us and we will gladly provide you with all the necessary advice.
