Bank account assistance in the Bahamas

For a company formed in the Bahamas and owned from abroad, the bank account is a separate project from the incorporation. The certificate does not open one: the bank wants to know who owns and controls the company, what it will do, where its income will come from and why it sits in the Bahamas. Bank account assistance is the work of assembling that file and presenting it. The decision stays with the bank, so be wary of a firm that treats approval as certain.

Read the profile for what the firm actually does. Does it collect and certify documents, draft the description of your activity, arrange calls with a bank, or only make an introduction? Ask which banks it has approached recently, how long those applications took and what happens to its fee if the bank declines. If your company is an IBC run through a registered agent, ask whether the agent that holds your records will also prepare the bank file.

On Accountanty, 4 firms in the Bahamas offer bank account assistance: 3 corporate services providers and 1 law firm. One is a large network, one is medium-sized and two are small. All four work in English and 3 say they focus on clients from abroad. Investment funds and real estate are the sectors named by two firms each, and international business companies and trusts are the entity types named by two each. All four are in Nassau and all four also form companies, so you can pair this with company formation, or read the Bahamas guide for the set-up first.