FAQs

Controller of Exchange

As a temporary resident in The Bahamas, would I be permitted to send funds to family etc. in my home country?

Non-Bahamians employed in The Bahamas under formal Government contract or valid work permit (temporary residents) are permitted, with the prior permission of the Central Bank, to remit up to 50% of their income abroad to meet their foreign currency obligations. In support of their application to do so, they must also provide a letter confirming their annual salary along with a copy of the permit/contract under which they are employed in The Bahamas.


  1. Are Bahamians permitted to open foreign currency accounts?
  2. Are Bahamians permitted to invest in financial securities abroad?
  3. What should I do if I wish to send funds to someone attending school outside of The Bahamas?
  4. As a non-resident am I permitted to enter into loan agreements denominated in Bahamian dollars?
  5. As a temporary resident in The Bahamas, would I be permitted to send funds to family etc. in my home country?
  6. Are there special provisions in respect of property transactions that involve non-residents?
  7. I am a Bahamian citizen who plans to take up residence outside of The Bahamas. Would foreign exchange restrictions still apply to me?
  8. How are external (foreign currency) reserves managed?
  9. How can we tell if external (foreign currency) reserves are 'too low'?
  10. How have external (foreign currency) reserves changed over the past few years?


Available FAQs