As the second pillar to the Bahamian economy, between 15 \u2013 20 % of the nation\u2019s gross domestic product is derived from financial services which underpin the Bahamian middle class. As this vibrant industry continues to build on its strong foundation, it leverages the use of innovation to reposition itself for long-term growth and sustainability.<\/p>\n
Value Proposition<\/strong><\/h2>\n![\"Bahamas](\"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/wp-content\/uploads\/sites\/2\/2017\/02\/why-buy-8-300x199.jpg\")
Four vital features underpin the strength of the Bahamian financial services sector and represents its value proposition. Regulation, expertise, innovation and location distinguish The Bahamas as a leading international financial services centre<\/p>\n
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1 Expertise<\/h3>\n
Roughly 250 financial institutions based in The Bahamas leverage the strength of a well-trained, readily available local workforce with internationally recognized designations and years of practical hand-on experience that works in tandem with expatriate talent. The investment client is nurtured through years of maturity along with over 80 years of experience in financial services. This stable and predictable business environment is conductive to growth of indigenous boutique firms.<\/p>\n
2 Regulation<\/h3>\n
As a sovereign nation for over 40 years, The Bahamas has demonstrated cooperation in the country\u2019s commitment in administration of justice, international tax transparency, anti-money laundering and counter-terrorist financing initiatives. Strong public and private sector collaboration ensures that the Bahamas remains well-regulated and compliant in its commitment to adhering to international best practices. This is supported by regulators and supervisory agencies that ensure adherence to international standards of best practice. The primary regulators are:<\/p>\n
\n- The Central Bank of the Bahamas<\/li>\n
- The Securities Commission of the Bahamas<\/li>\n
- The Insurance Commission of the Bahamas<\/li>\n<\/ul>\n
a) The Central Bank of The Bahamas<\/h4>\n
The Central Bank of The Bahamas uses a robust licensing regime intended to maintain the credibility of The Bahamas as a well-supervised international banking jurisdiction. Its licensing criteria includes rigorous assessment, due diligence process and relevant inquiries. The Central Bank of The Bahamas licenses all banks and trust companies operating in, and from within the Commonwealth of The Bahamas; in accordance with section 3 of the Banks and Trust Companies Regulation Act, 2000. Any person and or company wishing to conduct banking or trust business within the Commonwealth of The Bahamas, is required to make an application to the Governor of The Central Bank for the grant of a license in accordance with Section 4 of the Act.<\/p>\n
For more information on licensing requirements as well as the process for submitting application, see the general information and guidelines for license applications for banking and or trust companies on this website: www.centralbankbahamas.com\/download\/023515700.pdf<\/a><\/p>\nb) The Securities Commission<\/h4>\n
The Securities and Financial Services laws of The Bahamas, the Securities Industry Act, 2011, the Investment Funds Act, 2003, and the Financial and Corporate Service Providers Act, 2000 require all market participants operating in or from The Bahamas and products offered to the public to be licensed by, or registered with the Securities Commission. The Securities Industries Act, 2011 provides for the regulation of the securities industry.<\/p>\n
The Investment Funds Act, 2003 provides for the licensing and registration of Investment Fund Administrators and Investment Funds. The Financial and Corporate Service Providers Act, 2000, provides for the licensing of financial and corporate service providers.<\/p>\n
The website<\/a> of the Securities Commission of the Bahamas gives you a listing of approved registrants and licensees. Also it provides licensees and persons who are no longer licensed to operate in The Bahamas.<\/p>\nApplication forms for firms, individuals under the Securities Industry Act, 2011, Administrators and Funds under the Investment Funds Act 2003, as well as Financial and Corporate Services Licensed under the Financial and Corporate Service Providers Act 2000 are accessible via the following link<\/a>.<\/p>\nc) The Insurance Commission of the Bahamas<\/h4>\n
Four vital features underpin the strength of the Bahamian financial services sector and represents its value proposition. Regulation, expertise, innovation and location distinguish The Bahamas as a leading international financial services centre<\/p>\na) The Central Bank of The Bahamas<\/h4>\n
The Central Bank of The Bahamas uses a robust licensing regime intended to maintain the credibility of The Bahamas as a well-supervised international banking jurisdiction. Its licensing criteria includes rigorous assessment, due diligence process and relevant inquiries. The Central Bank of The Bahamas licenses all banks and trust companies operating in, and from within the Commonwealth of The Bahamas; in accordance with section 3 of the Banks and Trust Companies Regulation Act, 2000. Any person and or company wishing to conduct banking or trust business within the Commonwealth of The Bahamas, is required to make an application to the Governor of The Central Bank for the grant of a license in accordance with Section 4 of the Act.<\/p>\n
For more information on licensing requirements as well as the process for submitting application, see the general information and guidelines for license applications for banking and or trust companies on this website: www.centralbankbahamas.com\/download\/023515700.pdf<\/a><\/p>\n The Securities and Financial Services laws of The Bahamas, the Securities Industry Act, 2011, the Investment Funds Act, 2003, and the Financial and Corporate Service Providers Act, 2000 require all market participants operating in or from The Bahamas and products offered to the public to be licensed by, or registered with the Securities Commission. The Securities Industries Act, 2011 provides for the regulation of the securities industry.<\/p>\n The Investment Funds Act, 2003 provides for the licensing and registration of Investment Fund Administrators and Investment Funds. The Financial and Corporate Service Providers Act, 2000, provides for the licensing of financial and corporate service providers.<\/p>\n The website<\/a> of the Securities Commission of the Bahamas gives you a listing of approved registrants and licensees. Also it provides licensees and persons who are no longer licensed to operate in The Bahamas.<\/p>\n Application forms for firms, individuals under the Securities Industry Act, 2011, Administrators and Funds under the Investment Funds Act 2003, as well as Financial and Corporate Services Licensed under the Financial and Corporate Service Providers Act 2000 are accessible via the following link<\/a>.<\/p>\nb) The Securities Commission<\/h4>\n
c) The Insurance Commission of the Bahamas<\/h4>\n
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