The Bahamas, 700 small islands located 30 minutes away from Miami and with the same time zone as New York. Ideal jurisdiction for everything that contains the word offshore.

Whatever your banking needs, the Bahamian professional crowd is full of estate planning experts, structuring geniuses and tax optimization geniuses to help you, for the right price.

The last 60 years of this jurisdiction read like an action movie. In the 1960s, Al Capone and Meyer Lansky's money guy showed up, befriended corrupt politicians and turned the British colony into a mob cleaning machine. It was the golden age of American organized crime infused into the Caribbean.

The Bahamas cleaned up the banking system, adopted strict banking rules and began to take compliance seriously.

Benefits of opening a Bahamas Bank Account

Simple, back-up accounts and diversification.

Account freezes and sudden account cancellations are becoming increasingly common and unpredictable. They are happening in banks and finthechs everywhere, no longer just in small countries, tax havens and offshore financial centers.

Banks in the Bahamas are usually safer and better than those in the home country, have more reliable and competent banking staff. This jurisdiction is friendly to non-resident personal accounts.

Foreign and offshore companies can find opening options in the Bahamas that suit their requirements. Ideal for wealth management or fiduciary services.

Let's talk about benefits

The banking sector is well capitalized, the Bahamas has the fourth largest offshore financial sector in the world, behind Singapore, Hong Kong and the Cayman Islands. The financial sector is 21 times larger than the country's GDP, which can be good or bad depending on how you look at it.

As a small island nation, banks have a long history of dealing with international companies and offshore finance. They can competently vet foreign entities, unlike many banks around the world.

The main benefit offered by the Bahamas is that some banks accept foreign companies and non-residents, contrary to popular belief you don't need a fortune to access them, you just need to know which bank to approach, Foster Swiss can help you.

Another important benefit is that in the Bahamas many accounts are opened remotely, which means that there is no need to physically present yourself at the bank. Although it is good to remember that, for opening accounts in this way, additional documents are required.

The Bahamas, being a large offshore financial center, has a lot to lose if it does not play by the rules. If they do not adapt to increasing regulations and compliance standards, they risk being excluded from the global financial system and losing their relationships with correspondent banks. This would devastate the local economy.

This jurisdiction is perfect for opening a bank account for offshore companies remotely, most of the banks we recommend at Foster Swiss provide this service.

If you wish to open an offshore bank account in the Bahamas, Foster Swiss can advise you. We help you with practically everything, we provide you with personalized advice from the moment you choose the bank that best benefits you, all the way through to the opening.

For more information on this subject or any other requirement related to our services, you can contact us directly at info@fosterswiss.com