Exceptional Debits and Credits

Published: Wednesday November 11th, 2020

EXCHANGE CONTROL DEPARTMENT

Exceptional Debits & Credits

Individual Account Holder

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 Account Holder

1. A copy of the company’s Certificate of Incorporation;

2. A copy of the relevant pages of the passport for each shareholder; and

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

Exceptional Credits to an External Bahamian Dollar/Foreign Currency Account: documentary evidence to confirm the source of funds for credit to account (e.g., rental agreement, executed conveyance, cheque to confirm insurance payout)

Exceptional Debits from a Foreign Currency Account:

1. A copy of the recipient’s passport;

2. Documentation to confirm the recipient’s Bahamas immigration status, if applicable; and

3. Documentation to confirm the purpose of the transaction (e.g., loan agreement, resolution for declaration of dividends, sales agreement for local property transaction, etc.)

Exceptional Credits to a Foreign Currency Account: documentary evidence to confirm the source of funds for credit to account (e.g., rental agreement, executed conveyance, cheque to confirm insurance payout)