Includes special features of this country's banking system and rules/laws that might impact U.S. business.
Last Published: 9/27/2016

  • The Central Bank administers regulations controlling the buying/selling/dealing in gold, foreign currency, foreign exchange and securities in order to support the value of the Bahamian dollar which is on par with the U.S. dollar. 

  • Local companies are required to obtain Central Bank foreign exchange approval for payment of foreign invoices.   Non-Bahamians who are gainfully employed in The Bahamas for a year or more are regarded as “temporary residents.”   Such individuals are eligible for certain exceptions that permit them to retain foreign currency accounts, as well as existing non-Bahamian assets, and to remit and repatriate assets on leaving The Bahamas.

  • For further information, see The Central Bank of The Bahamas website – www.centralbankbahamas.com.

 
U.S. Banks & Local Correspondent Banks
Citibank is the only U.S.-owned commercial bank operating in The Bahamas but there are long standing relationships between many of the resident Canadian Banks and U.S. financial institutions as well as subsidiaries.  Royal Bank of Canada, First Caribbean, and Scotia Bank are the leading commercial banking institutions in The Bahamas. All major banks have strong correspondent banking relationships and maintain access to the U.S banking system.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.