Exchange Control Liberalisation Measures
Published: Thursday March 31st, 2016
In its role as Controller of Exchange in The Bahamas, and in line with its commitment to conduct periodic reviews of Exchange Controls, the Central Bank, after consultation with the Government, is pleased to announce additional liberalisation of measures and processes governing capital account (investments and borrowing) and current account (trade) transactions.
The current account items involve increased delegated authority for Commercial Banks and Money Transmission Businesses (MTBs), in respect of imports, education-related remittances, small gifts to non-residents and transfers outside The Bahamas by work permit holders. On the capital side, areas affected include investments abroad, and borrowing inside The Bahamas by temporary residents and work permit holders.
These measures take effect on April 1st 2016.
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