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Foreign Currency Loans – Wholly Bahamian-Owned Businesses

Published: Friday January 28th, 2022

Foreign Currency Loans – Wholly Bahamian-Owned Companies

N.B.: Applicable for loans to be issued by a foreign lender or local commercial bank (for an amount in excess of


i. borrower’s name, address and registered office;
ii. confirmation of the sector that borrower operates in:

  • Agriculture & Fisheries
  • Manufacturing
  • Transport (land, sea & air)
  • Tourism (hotels & restaurants)
  • Construction & Reals Estate (residential tourism)
  • Energy & Energy Conservation
  • Education
  • Health
  • Telecommunications, ICT & Infrastructure;

iii. copy of borrower’s constitutional documents (e.g., Certificate of Incorporation, Memorandum
and Articles of Association, Partnership Agreement, etc.);

iv. amount, currency and purpose of loan;

v. security offered for loan, if applicable (if Bahamian property or shares in a Bahamian company
are being offered as security to a foreign lender, the Bahamas Investments Board must grant prior
approval in favour of the foreign lender with respect to the proposed security arrangement);

vi. copy of draft/provisional loan agreement/commitment letter or similar document;

vii. copy of the executed Directors’ Resolution authorizing loan (or similar document);

viii. borrower’s tax compliance certificate, business license (and other relevant Government licenses,
if applicable);

ix. name and address of borrower’s ultimate beneficial owner(s) and copy of passport/Certificate of


i. confirmation of the lender type:

  • Local Commercial Bank (Application to Central Bank only required for amounts in excess of $5M)
  • Regulated Foreign Lender
  • Lending Arm of International Development Agency
  • Private Lender;

ii. name and address of lender;

iii. private lenders:

(a) confirmation of the lender’s relationship to borrower;
(b) (i) individual lender: financial reference from a reputable source; or
 (ii) corporate lender: audited financial statements or latest annual report.