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Residents Investments in Foreign Currency Denominated Assets

Published: Friday March 11th, 2022

Residents Investments in Foreign Currency Denominated Assets

 

N.B.: Please find the application to purchase investment currency here: https://www.centralbankbahamas.com/exchange-control-notes-and-guidelines/online-applications/the-icm- purchase-redemption-forms?N=N

See also Investment Currency Market;

See also Employee Stock Option Plans; See also Special Criterion Investments

 

  1. applicant’s name and address;

  1. a copy of the relevant pages of the applicant’s passport;

  1. a copy of the applicant’s Certificate of Naturalization/Permanent Residence with no restrictions on employment in The Bahamas, if applicable;

  1. for proposed investors that are wholly resident owned corporate or other entities:

    1. name of the entity;

    1. a copy of the entity’s formation document (e.g., Certificate of Incorporation, Partnership Agreement, Certificate of Trust, etc.);

    1. application for designation if applicable (see Companies Designation, Capital Investment and Share Transactions;

    1. a copy of the entity’s Business License/Certificate of Good Standing, if applicable;

    1. a copy of the approval from the relevant local regulator(s), if applicable;

    1. a copy of the relevant pages of the passport along with Certificate of Naturalization/Permanent Residence with no restrictions on employment in The Bahamas, if applicable, for each of the entity’s beneficial owners.

  1. confirmation of the amount and currency of the investment;

  1. for proposed investments in employee stock option grants, employee share purchase plans and employee stock option plans:

    1. employee’s national insurance number;

    1. confirmation of the number and value of shares that the employee is eligible to acquire;

    1. name of the employer company;

    1. documented details of the employee stock option plan.

  1. for proposed investments in real estate/timeshares: a copy of the executed sales agreement;

  1. for proposed portfolio investments:

    1. a copy of the shareholder agreement, company prospectus, etc.;

    1. a copy of the agreement with the service provider with whom securities will be purchased/traded, if applicable.

  1. for other proposed investments: documented details of the proposed investment.