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Non-Delegated Current Account Transactions

Published: Wednesday November 11th, 2020

EXCHANGE CONTROL DEPARTMENT

 

Non-Delegated Current Account Transactions

Individual Applicant

  1. A copy of the relevant pages of the applicant’s passport; and
  1. Documentation to confirm the applicant’s Bahamas immigration status, if applicable.

 

Corporate Applicant

  1. A copy of the company’s current Business/Port Authority Licence or Certificate of Good Standing

Personal Travel

  1. A copy of the relevant ticket or itinerary to confirm travel

Educational Travel

  1. A copy of the relevant ticket or itinerary to confirm travel; and
  1. Documentary evidence to confirm student’s enrolment in institution abroad (e.g., acceptance letter, student visa, bill/invoice issued by the institution, etc.)

Medical Travel

  1. A copy of the relevant ticket or itinerary to confirm travel; and
  1. Documentary evidence to confirm purpose for travel (e.g., medical referral letter, appointment confirmation from medical institution, etc.)

Business Travel

  1. A copy of the relevant ticket or itinerary to confirm travel; and
  1. Documentary evidence to confirm purpose for travel (e.g., business licence, official letter from employer, confirmation of registration at business conference, etc.)

Gifts

  1. A copy of the relevant pages of the recipient’s passport; and
  1. Documentation to confirm Bahamian recipient’s residency status abroad.

Education Payment to Student (exceeding $15,000.00)

  1. A copy of the relevant pages of the recipients passport;
  1. Documentary evidence to confirm student’s enrolment in institution abroad (e.g., acceptance letter, student visa, bill/invoice issued by the institution, etc.); and
  1. A copy of the recipient’s Bahamas immigration document, if applicable.

Oil & Non-Oil Imports

  1. Copies of the approved Customs Entry Forms for goods shipped on credit; and
  1. Copies of the relevant invoice(s) for the imports.

Miscellaneous Payments

  1. Appropriate documentation to support the purpose indicated for payment (e.g., a copy of the completed application form from the relevant foreign embassy, a copy of a cheque or wire transfer instructions, etc.)

Support Transfer

  1. Documentation to confirm commitment(s) abroad (e.g., OPT documents, etc.)

 

Franchise Operations to make Royalty Payments

  1. Documentary evidence to confirm that payments are due (e.g., a copy of the relevant invoice(s))

Insurance Payments

  1. Documentation to confirm the nature of the payment due (e.g., invoice, etc.); and
  1. A copy of the Insurance Commission of The Bahamas’s Licence/Registration for wholly Bahamian owned corporate applicants that are regulated by the Commission.

Conversion of Bahamian Dollars for Credit to Local Foreign Currency Account (Temporary Residents)

  1. Documentary evidence to confirm the source of funds for credit to the account (e.g., a copy of job letter including annual salary, a copy of the relevant rental agreement along with a copy of the tenant’s passport and documentation to confirm their Bahamas immigration status, if applicable)