Foreign Currency Accounts- Money Transmission Businesses

Published: Friday January 28th, 2022

i. purpose for which the account is to be held;

ii. specific scope of the company’s activities along with an explanation of how the account will
facilitate such activities;

iii. source of funds to be credited to the account;

iv. expected type of payments to be made from the account;

v. estimated monthly income and expenditure;

vi. expected monthly balance;

vii. bank and branch at which the account is to be held;

viii. nationality and Bahamas immigration status of the company’s beneficial owners, with
documentation;

ix. a copy of the company’s Certificate of Incorporation;

x. a copy of the company’s current Business License/Certificate of Good Standing;

xi. a copy of the company’s license from the Bank Supervision Department of the Central Bank of
The Bahamas;

xii. a copy of the company’s Financial Corporation Service Providers license, if applicable.