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bahamas Payment Services Provider License
The bahamas is an attractive location for Payment Service Providers’ (PSP) institutions for a number of reasons. Due to the great number of advantages, the amount of licensed Payment Service Providers (PSP) in bahamas has significantly grown over the past few years.Timeframe: within 6 months Minimum paid up capital: $100 000 USD Overview bahamas PSPs may engage in va...
Path: Licensingbahamas Dealing in Securities License
bahamas Dealing in security license authorizes a company to act as intermediary in the execution of securities transactions for clients, and trade in securities as principal with the intention of reselling these securities to the public.Timeframe: within 6 months Minimum capital requirement: Investment Dealer and Agent – USD 300 000 Investment Agent –USD 120 000 ...
Path: Licensingbahamas Securities Commission pushes for new legislation for token sales
**The Security Commission of the bahamas is radically pushing for a new framework for token projects.** **The aforesaid project’s purpose - to turn this popular tourist destination into a blockchain startup hub.** The Regulator has recently provided a draft of the new bill that will provide regulations of token offerings that are not considered as securities. The new bill describes details...
Path: BlogNew Legal Framework for Forex and CFD Brokers in bahamas
**bahamas is one of the most popular destinations for foreign exchange and CFD brokers**, with the nation’s regulator - the Securities Commission (SC) of The bahamas, is about to introduce a set of new regulations which stipulates leverage restrictions. Proposed regulation has been highlighted by the Government of The bahamas on the 27th of May 2020. The SC will be implementing leverage rest...
Path: Blog“Sand Dollar” pilot testing in the bahamas
**The Central Bank of the bahamas launched a pilot testing of a Central Bank Digital Currency (CBDC)** that was introduced on 27 December 2019. A so-called “Sand Dollar” is starting a pilot phase in Exuma, one of the districts of the bahamas, and will extend to the Abaco Islands in the first half of 2020. The testing will allow collecting the data on the performance of the digital currency. ...
Path: BlogThe Central Bank of the bahamas expressed digital currency plans
It is very likely that soon Bahamians will have their own digital currency. **The Central Bank of the bahamas disclosed the plans to issue their own electronic money and establish digital currency as a legal tender.** According to the Central Bank, introducing the cryptocurrency will be a valuable input for handling economic issues. It will be the blockchain-based digital fiat currency dubbed...
Path: BlogHow to set up a business on bahamas?
*When you have already thought about moving your business and choosing jurisdiction you might have come to decision about the bahamas. This country, officially known as the Commonwealth of the bahamas, and has all the advantages of an offshore jurisdiction.* For example, tax climate for IBCs is close to perfect. International business is exempt of local taxes, including sales, dividends, corpora...
Path: Blogbahamas issued guidance related to financial crimes prevention
**The bahamas has announced two newly drafted guidance documents for financial services companies regarding prevention of financial crimes.** The first of them – **“Guidance Note on Financial Crime Risk Management”** – is proposed at licensees in the banking and non-banking financial sectors and is aimed to deliver instruction on financial crime-related risk management at the business ...
Path: BlogNew securities policies from bahamas Regulator
Recently, **three new securities policies were announced** by the Securities Commission of bahamas (SCB) which will affect different aspects of securities laws. The following documents were published on the Commission official website: (i) **Due Diligence Refresher Policy**; (ii) **Reclassification and Downgrade of an Unrestricted Investment Fund Administrator License**; (iii) **Regulatory C...
Path: BlogWill bahamas be removed from the EU tax blacklist?
On 13th of March the European Council released a decision where **bahamas are listed among other jurisdictions with non-cooperative taxation rules**. The mentioned above list is a non-obligatory document, but, at the same time, an important guide which makes a huge impact for choosing contractors while doing business. This year, the US Virgin Islands, **Saint Kitts and Nevis were also listed ...
Path: BlogDeltec Bank Account Opening
Headquartered in The bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet their clients’ unique needs.Account opening: 7-14 working days Overview: The bahamas has been an independent nation since 1973 and is one of the oldest, most stable democracies in the Western Hemisphere, with more than 280 years of uninterrupted p...
Path: BanksDeltec Bank Account Opening
Headquartered in The bahamas, Deltec is an independent financial services group that delivers bespoke solutions to meet their clients’ unique needs.Account opening: 7-14 working days Overview: The bahamas has been an independent nation since 1973 and is one of the oldest, most stable democracies in the Western Hemisphere, with more than 280 years of uninterrupted p...
Path: BanksOffshore jurisdictions introduce strict requirements for tax residents
...imes that do not fully comply with the principles of fair and transparent taxation. Some of the countries were included as it was possible for offshore companies (structures) to generate a profit without "real" economic activity. These are Anguilla, bahamas, Bahrain, Bermuda, British Virgin Islands, Caymans, Guernsey, Maine, Jersey, Marshall Islands, Turks and Caicos, UAE and Vanuatu. EU threatene...
Path: BlogWhy Moving Your Business Offshore Sounds Reasonable
...ter.** First of all, moving your business offshore allows you to lower tax burden. Try to compare taxation level in the UK or the USA and in offshore territories - where property, capital gains, dividend and other taxes are very low. Furthermore, bahamas, Isle of Man, Bermuda, Bahrain and the Cayman Islands don’t have any corporation taxes at all. In contract, the corporate tax in countries w...
Path: BlogThe grand taxpayer data swap is approaching
...f jurisdictions participating in the Convention. Since the beginning of May, Macedonia, Grenada, Hong Kong, Liberia, Macau, Paraguay, and Vanuatu have joined the Convention, bringing the total number of participating jurisdictions up to 124. The bahamas, Bahrain, Grenada, Peru, and the United Arab Emirates have deposited their instruments of ratification. OECD said that the mentioned early cou...
Path: BlogCayman acknowledged as a top offshore financial center
...the ratings? Latin America and the Caribbean have lost points. The same pattern worked for European island centers too. These jurisdictions mostly fell in the rating and now are not among the most popular offshore destinations. At the same time, the bahamas and the Cayman Islands are holding on with their places and the bahamas even moved 22 places up. **GFCI is a ranking that is very important...
Path: BlogTax storm. British Virgin Islands ceased to be a "haven" for shall companies
...rdination with EU, new requirements were introduced in all dependent territories of the United Kingdom (Bermuda, Cayman Islands, Isle of Man) and its crown possessions (Jersey, Guernsey). It is also known that other well-known offshores, such as the bahamas, Belize, Hong Kong, Seychelles and so on, will not be left aside.
Path: Blog