How to get organized?
The Bahamas is one of the world’s premier international financial centers. The country’s history of political and social stability, a parliamentary democracy for over 50 years, has fostered a strong financial services industry. Fully compliant with international rules, the industry’s legislative and regulatory framework has attracted many of the world’s largest and most prestigious financial institutions, representing twenty-five different countries including the United Kingdom, Switzerland, France, the United States, Canada, Japan and Brazil. The Bahamas diverse product offering, expertise in financial services, friendly tax environment, and satisfactory communication system has also attracted some of the wealthiest people in the world, attesting to the robustness of financial services in The Bahamas. As an independent nation, financial markets in The Bahamas are supervised by The Central Bank of the Bahamas and the Securities Commission of The Bahamas.
The financial sector in The Bahamas consists of various institution specializing in retail banking, asset management, trust insurances, and funds, just to list a few. At a minimum, you will need a local bank account with one of the commercial banks. The account is necessary for local expenses. While USD is widely circulated and accepted in The Bahamas, BSD is the officially currency of the Bahamas and there are rules to be respected when transacting in USD. Transacting in USD could cost more..
A good banker could guide you seamlessly through the financial services landscape. It is important that you find one; otherwise, what should be seamless, could be a pain. We can help you get set-up.