No. 32 Approved Investment Status

Published: Wednesday November 11th, 2020

EXCHANGE CONTROL DEPARTMENT

Approved Investment Status

Individual Applicant

1. A copy of the relevant pages of the applicant’s passport; and

2. Documentation to confirm the applicant’s Bahamas immigration status, if applicable.

Corporate Applicant

1. A copy of the applicant’s Certificate of Incorporation/Registration;

2. A copy of the relevant pages of the passport of each of the applicant’s beneficial owners; and

3. Documentation to confirm the Bahamas immigration status for each beneficial owner, if applicable.

Property Purchase (All Applicants)

1. A copy of the vatted conveyance to the purchaser;

2. A copy of the Bahamas Investments Board Permit/Certificate of Registration in the purchaser’s favour;

3. A copy of the recorded conveyance to the vendor;

4. A copy of the Bahamas Investments Board Permit/Certificate of Registration in the vendor’s favour, if applicable; and

5. Documentary evidence (i.e., a copy of a bank statement, wire transfer instructions, cancelled cheque, etc.) to confirm that the purchase funds emanated from a foreign currency source and were paid to the vendor.

Property Purchase (Individual Vendor)

1. A copy of the relevant pages of the vendor’s passport; and

2. Documentation to confirm the vendor’s Bahamas immigration status, if applicable.

Property Purchase (Corporate Vendor)

1. A copy of the vendor’s Certificate of Incorporation/Registration;

2. A copy of the relevant pages of the passport of each of the vendor’s beneficial owners; and

3. Documentation to confirm the Bahamas immigration status for each beneficial owner, if applicable.

Share Purchase:

1. Documentary evidence (i.e., a copy of a bank statement, wire transfer instructions, cancelled cheque, etc.) to confirm that the purchase funds emanated from a foreign currency source and were paid to the vendor; and

2. A copy of the Bahamas Investment Authority’s approval of the applicant’s shareholding.

All Inherited Assets

1. A copy of the relevant pages of the passport for the decedent(s);

2. documentation to confirm the decedent’s Bahamas immigration status, if applicable; and

3. A copy of the decedent’s resealed Will & Grant of Probate/Letters of Administration in the Supreme Court of The Bahamas.

Inherited Property

1. A copy of the recorded conveyance to the decedent;

2. A copy of the Bahamas Investments Board Permit/Certificate of Registration in the decedent’s favour, if applicable;

3. A copy of the vatted conveyance to the applicant; and

4. A copy of the Bahamas Investments Board Permit/Certificate of Registration in the applicant’s favour, if applicable.

Inherited Shares

1. Copies of the share certificates in the decedent’s favour; and

2. A copy of the Bahamas Investment Authority’s approval of the applicant’s shareholding.