Non-Delegated Current Account Transactions
Published: Wednesday November 11th, 2020
EXCHANGE CONTROL DEPARTMENT
Non-Delegated Current Account Transactions
Individual Applicant
- A copy of the relevant pages of the applicant’s passport; and
- Documentation to confirm the applicant’s Bahamas immigration status, if applicable.
Corporate Applicant
- A copy of the company’s current Business/Port Authority Licence or Certificate of Good Standing
Personal Travel
- A copy of the relevant ticket or itinerary to confirm travel
Educational Travel
- A copy of the relevant ticket or itinerary to confirm travel; and
- Documentary evidence to confirm student’s enrolment in institution abroad (e.g., acceptance letter, student visa, bill/invoice issued by the institution, etc.)
Medical Travel
- A copy of the relevant ticket or itinerary to confirm travel; and
- Documentary evidence to confirm purpose for travel (e.g., medical referral letter, appointment confirmation from medical institution, etc.)
Business Travel
- A copy of the relevant ticket or itinerary to confirm travel; and
- Documentary evidence to confirm purpose for travel (e.g., business licence, official letter from employer, confirmation of registration at business conference, etc.)
Gifts
- A copy of the relevant pages of the recipient’s passport; and
- Documentation to confirm Bahamian recipient’s residency status abroad.
Education Payment to Student (exceeding $15,000.00)
- A copy of the relevant pages of the recipients passport;
- Documentary evidence to confirm student’s enrolment in institution abroad (e.g., acceptance letter, student visa, bill/invoice issued by the institution, etc.); and
- A copy of the recipient’s Bahamas immigration document, if applicable.
Oil & Non-Oil Imports
- Copies of the approved Customs Entry Forms for goods shipped on credit; and
- Copies of the relevant invoice(s) for the imports.
Miscellaneous Payments
- Appropriate documentation to support the purpose indicated for payment (e.g., a copy of the completed application form from the relevant foreign embassy, a copy of a cheque or wire transfer instructions, etc.)
Support Transfer
- Documentation to confirm commitment(s) abroad (e.g., OPT documents, etc.)
Franchise Operations to make Royalty Payments
- Documentary evidence to confirm that payments are due (e.g., a copy of the relevant invoice(s))
Insurance Payments
- Documentation to confirm the nature of the payment due (e.g., invoice, etc.); and
- A copy of the Insurance Commission of The Bahamas’s Licence/Registration for wholly Bahamian owned corporate applicants that are regulated by the Commission.
Conversion of Bahamian Dollars for Credit to Local Foreign Currency Account (Temporary Residents)
- Documentary evidence to confirm the source of funds for credit to the account (e.g., a copy of job letter including annual salary, a copy of the relevant rental agreement along with a copy of the tenant’s passport and documentation to confirm their Bahamas immigration status, if applicable)
