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Business accounts: Bahamas

An honest assessment before work starts, the quote is fixed in writing.

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We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, and careful preparation improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Bahamas taxes and currency

The Bahamas has no income, capital gains or inheritance tax; the main tax is 10% VAT. The Bahamian dollar is pegged one to one to the US dollar. Banks are supervised by the Central Bank of The Bahamas, and deposits are insured up to BSD 50,000, about $50,000, per depositor per bank.

What the bank checks in a company

  • Certificate of incorporation, articles, registers of directors and shareholders, certificate of good standing.
  • A business licence if the company operates on the islands.
  • Ultimate owners, source of capital, contracts and payment countries.
  • An in-person or video meeting with the director.

Why banks refuse and what we do

Banks refuse companies with no link to the islands, unproven capital or counterparties in sanctioned countries. We choose a bank for the company's profile, prepare a full document pack and support the review until a decision.

Mandatory company payments on the islands

PaymentCondition
VAT registrationmandatory with taxable supplies from $100,000 a year
Business licenceBSD 100 for turnover up to 50,000; above that 0.5-1.25% of turnover
International company without office or staff on the islandsusually not registered for VAT

International companies are treated as non-resident for exchange control and work freely in foreign currency, while companies operating on the islands follow the Central Bank's exchange rules.

What we do

  • Corporate account - opening assistance

See also

Company formation · Personal account · Investment property

FAQ

Can I open a company account in The Bahamas?
Yes, but the bar is high - banks serve international corporate and private clients and vet them thoroughly. Applications almost always go through a licensed local agent, with the file prepared by Murblz specialists. Companies with no real activity and no proven capital get declined.
Do Bahamas companies need economic substance?
Yes, the Bahamas has economic substance rules covering certain activities, with reporting obligations. Empty structures with no operations or management are now awkward both for the regulator and for the bank. That feeds straight into the account decision.
What does a Bahamian bank ask a company for?
Corporate documents and a certificate of good standing, the ownership chain down to the beneficial owner, a description of the business and its counterparties, expected turnover and the origin of the capital. Bank references and evidence of previous banking history are often required. The review takes weeks, not days.
Do I have to travel to The Bahamas to open a company account?
Many banks accept identification through a licensed agent, notarised documents or a video meeting. Others insist on meeting the beneficial owner face to face. Practice differs, so confirm before you submit anything.
Does a company pay tax in The Bahamas?
There is no income, capital gains or inheritance tax; the main tax is 10% VAT, and companies operating on the islands pay a business licence fee.
Are company funds insured in a Bahamian bank?
Deposits are insured up to BSD 50,000 per depositor per bank; large balances are spread across banks.
From what turnover is VAT registration required in The Bahamas?
With taxable supplies from $100,000 a year; international companies without office or staff on the islands usually do not register.
How much is a business licence in The Bahamas?
BSD 100 for turnover up to 50,000 a year; above that, 0.5-1.25% of turnover.
Is there exchange control in The Bahamas?
Yes, for residents. International companies are treated as non-resident and work freely in foreign currency.
Is there corporate income tax in The Bahamas?
No, there is no income, capital gains or inheritance tax; companies pay 10% VAT and a business licence fee.
Is the Bahamian dollar pegged to the US dollar?
Yes, one to one; international companies freely hold funds in foreign currency.
Is a business licence needed in The Bahamas?
Yes, for a company operating on the islands; the fee is BSD 100 for turnover up to 50,000 and 0.5-1.25% of turnover above.

Will a Bahamas bank open an account for your company?

We check Bahamian banks' requirements for your business and minimum balances, prepare the compliance pack and handle the bank correspondence. The catalogue covers every country.

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The same service in other jurisdictions

Business accounts: BahrainBusiness accounts: BarbadosBusiness accounts: BelarusBusiness accounts: BelgiumBusiness accounts: BelizeBusiness accounts: Bermuda
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