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Open a Bank Account in Bahamas
$1,250.00
The Bahamas is one of the industry veterans when it comes to offshore financial services. Since the 30s and 40s, the jurisdiction has been attracting foreign wealth due to its absence of taxation and its confidentiality policies. Although it lost popularity after its independence from Great Britain back in 1973, in favor of Cayman, BVI or Bermuda, it is still one of the go-to jurisdictions in terms of offshore corporate, trust and banking services.
The Bahamas is one of the biggest financial centers of the Caribbean, with financial services producing some 15 percent of GDP and being the second-largest industry after tourism. The country’s legislation and regulatory structure, comparatively highly-skilled workforce, and its stable government have attracted the some of the most prestigious financial institutions from around the globe.
We can help you open business and personal accounts in the Bahamas. Accounts are available for both resident and non-resident companies and individuals. We work with 5 different banks in the Bahamas. Each bank has different eligibility requirements, types of accounts available and onboarding processes. We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs:
- Bahamas Bank Option 1 (Business Account, Personal Account)
- Bahamas Bank Option 2 (Business Account, Personal Priority Account)
- Bahamas Bank Option 3 (Business Account, Personal Priority Account)
- Bahamas Bank Option 4 (Business Account, Personal Priority Account)
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.
Bahamas Bank Option 1 (CIBC FirstCaribbean International Bank)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Checking Accounts / Deposit Accounts (USD, other major currencies on request) |
| Minimum Initial Deposit | USD 100,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 100,000.00 |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Debit and Credit Cards |
| Other Services | Merchant Services Trade Finance Wealth Management |
Remote opening: no personal visit to the Bahamas is required.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Personal Checking Accounts / Deposit Accounts (USD, other major currencies on request) |
| Minimum Initial Deposit | USD 100,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 100,000.00 |
| Online Banking | Full Service (Internet Banking, Mobile Banking) |
| Cards (Currency) | Debit and Credit Cards |
| Other Services | Fixed Deposits Wealth Management |
Remote opening: no personal visit to the Bahamas is required. However, individuals with a nexus to the Bahamas (for example owning a business or a domicile there) are preferred.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Checking Accounts / Deposit Accounts (USD, other major currencies on request) Minimum Initial Deposit USD 100,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 100,000.00 Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Debit and Credit Cards Other Services Merchant Services
Trade Finance
Wealth ManagementRemote opening: no personal visit to the Bahamas is required.
- Personal Account
-
Account Details
Eligibility International Individuals Account type and Currency Personal Checking Accounts / Deposit Accounts (USD, other major currencies on request) Minimum Initial Deposit USD 100,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 100,000.00 Online Banking Full Service (Internet Banking, Mobile Banking) Cards (Currency) Debit and Credit Cards Other Services Fixed Deposits
Wealth ManagementRemote opening: no personal visit to the Bahamas is required. However, individuals with a nexus to the Bahamas (for example owning a business or a domicile there) are preferred.
Bahamas Bank Option 2 (Equity Bank)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Deposit Account (USD, EUR, CHF, GBP, CAD, JPY, AUD) |
| Minimum Initial Deposit | USD 500,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 500,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Prepaid Debit Cards |
| Other Services | Treasury Services Investment Management Cash Backed Credits |
Remote opening: no personal visit to the Bahamas is required.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Private Account (USD, EUR, CHF, GBP, CAD, JPY, AUD) |
| Minimum Initial Deposit | USD 500,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 500,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Prepaid Debit Cards |
| Other Services | Treasury Services Investment Management Cash Backed Credits |
Remote opening: no personal visit to the Bahamas is required.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Deposit Account (USD, EUR, CHF, GBP, CAD, JPY, AUD) Minimum Initial Deposit USD 500,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 500,000.00 Online Banking Internet Banking Cards (Currency) Prepaid Debit Cards Other Services Treasury Services
Investment Management
Cash Backed CreditsRemote opening: no personal visit to the Bahamas is required.
- Personal Priority Account
-
Account Details
Eligibility International Individuals Account type and Currency Private Account (USD, EUR, CHF, GBP, CAD, JPY, AUD) Minimum Initial Deposit USD 500,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 500,000.00 Online Banking Internet Banking Cards (Currency) Prepaid Debit Cards Other Services Treasury Services
Investment Management
Cash Backed CreditsRemote opening: no personal visit to the Bahamas is required.
Bahamas Bank Option 3 (Deltec Bank & Trust)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Current Account (USD, EUR, CHF, GBP) |
| Minimum Initial Deposit | USD 1,000,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 1,000,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | N/A |
| Other Services | Wealth Planning Investment Management Fund Administration Global Insurance |
Remote opening: no personal visit to the Bahamas is required.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Private Account (USD, EUR, CHF, GBP) |
| Minimum Initial Deposit | USD 1,000,000.00 |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 1,000,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | N/A |
| Other Services | Wealth Planning Investment Management Fund Administration Global Insurance |
Remote opening: no personal visit to the Bahamas is required.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Current Account (USD, EUR, CHF, GBP) Minimum Initial Deposit USD 1,000,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 1,000,000.00 Online Banking Internet Banking Cards (Currency) N/A Other Services Wealth Planning
Investment Management
Fund Administration
Global InsuranceRemote opening: no personal visit to the Bahamas is required.
- Personal Priority Account
-
Account Details
Eligibility International Individuals Account type and Currency Private Account (USD, EUR, CHF, GBP) Minimum Initial Deposit USD 1,000,000.00 Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 1,000,000.00 Online Banking Internet Banking Cards (Currency) N/A Other Services Wealth Planning
Investment Management
Fund Administration
Global InsuranceRemote opening: no personal visit to the Bahamas is required.
Bahamas Bank Option 4 (Capital Union Bank)
Account Details
| Eligibility | Local and Foreign Companies |
| Account type and Currency | Corporate Current Accounts / Savings Accounts (USD, other major currencies on request) |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 1,000,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Credit Cards |
| Other Services | Term Deposits Precious Metals Trading & Custody Wealth Management Asset Management Trading Desk |
Remote opening: no personal visit to the Bahamas is required during the Covid-pandemic.
Companies with less than 10 incoming payments per month are preferred.
Account Details
| Eligibility | International Individuals |
| Account type and Currency | Personal Savings Accounts (USD, other major currencies on request) |
| Minimum Initial Deposit | N/A |
| Minimum Monthly Average Balance (To Avoid Fall-Below Fee) | USD 1,000,000.00 |
| Online Banking | Internet Banking |
| Cards (Currency) | Credit Cards |
| Other Services | Term Deposits Precious Metals Trading & Custody Wealth Management Asset Management Trading Desk |
Remote opening: no personal visit to the Bahamas is required during the Covid-pandemic.
- Business Account
-
Account Details
Eligibility Local and Foreign Companies Account type and Currency Corporate Current Accounts / Savings Accounts (USD, other major currencies on request) Minimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 1,000,000.00 Online Banking Internet Banking Cards (Currency) Credit Cards Other Services Term Deposits
Precious Metals Trading & Custody
Wealth Management
Asset Management
Trading DeskRemote opening: no personal visit to the Bahamas is required during the Covid-pandemic.
Companies with less than 10 incoming payments per month are preferred.
- Personal Priority Account
-
Account Details
Eligibility International Individuals Account type and Currency Personal Savings Accounts (USD, other major currencies on request) Minimum Initial Deposit N/A Minimum Monthly Average Balance (To Avoid Fall-Below Fee) USD 1,000,000.00 Online Banking Internet Banking Cards (Currency) Credit Cards Other Services Term Deposits
Precious Metals Trading & Custody
Wealth Management
Asset Management
Trading DeskRemote opening: no personal visit to the Bahamas is required during the Covid-pandemic.
Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is guaranteed if the account is not successfully opened, but a 15% administrative fee applies.