Foreign Currency Company, Fixed Deposit, Client & Money Transmission/Transfer (MTB) Business Accounts

Published: Wednesday November 11th, 2020

EXCHANGE CONTROL DEPARTMENT

Foreign Currency Company, Fixed Deposit, Client & Money Transmission/Transfer (MTB) Business Accounts

All Applicants

1. A copy of the Board/Directors’ Resolution authorizing the opening of the relevant account and its funding by the source indicated on application;

2. A copy of the company’s current Business Licence or Certificate of Good Standing;

3. A copy of the company’s local regulatory licence or registration (e.g., Service Provider’s License); and

4. A copy of the company’s Letter of Good Standing from the relevant professional association(s).

Wholly Bahamian Owned Companies:

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

6. A copy of the relevant pages of the passport for each shareholder and ultimate beneficial owner for shares held by a nominee;

7. A copy of the certified share register for the company; and

8. A copy of the Declaration of Trust to evidence ultimate beneficial ownership of shares held by a nominee.