FreedomBankingPlus
Destinationsthe Bahamas
Quiet lane on Harbour Island with pastel clapboard cottages, bougainvillea and palms
⚠ CRS

Bank account opening in the Bahamas 2026

Open a bank account in the Bahamas

Service fee from £2,400
Non-residents OKfrom £2,400

Who we work with

We work with private banks in the Bahamas that hold a licence for business with non-residents and serve clients from abroad. The bank sets the minimum deposit and the opening steps for each client profile; we clarify both with the bank for you before the application goes in.

About this destination

The Bahamas are one of the oldest offshore financial centres in the Caribbean: an independent Commonwealth state with English-based law and a currency pegged one to one to the US dollar. The banks we work with focus on private banking for clients from abroad: accounts in US dollars, asset management and lending.

To be clear about one thing: the Bahamas have reported under the CRS since 2018. Your account is reported to the tax authority of your country of residence, and the income from it stays taxable there. The case for the Bahamas is a solid USD account outside the EU with private-banking service, not discretion.

Banking system

All figures are indicative and subject to change. Not investment advice.

Credit rating
Moody's Ba3 (stable, April 2026), S&P BB- (stable, September 2025)
Deposit guarantee
Deposit Insurance Corporation: up to BSD 50,000 per depositor and member institution; foreign-currency deposits, US dollar accounts included, are not covered
Currency
Bahamian dollar (BSD), pegged to the US dollar: BSD 1 = USD 1
Inflation
2.1% (12 months to April 2026, Central Bank of The Bahamas)
Banking secrecy & CRS
Bank confidentiality is protected by law; the Bahamas have exchanged CRS data since 2018, so accounts of clients from abroad are reported to their country of residence.

Similar jurisdictions

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Cayman Islands
CRS, Caribbean offshore
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Bermuda
CRS, exclusive offshore centre
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Barbados
CRS, Caribbean, remote option

Knowledge and background

Why bank outside the EU?

EU account registers, EAPO, bail-in risk and de-banking, the full picture.

How our service works: step by step

Five steps from order to activated account.

Declaring your offshore account: what you must report

CRS, FATCA and national reporting obligations explained clearly.

Enforcement-proof accounts abroad: what the term really means

EAPO, Lugano, foreign judgments: an honest assessment.

Questions first?

We'll tell you within 24 hours whether this destination fits your profile.

Quick overview

CRS status⚠ CRS
Minimum depositon request
Non-residentsNon-residents OK
Service feefrom £2,400

Not sure if this fits? Free consultation →

Requirements note

Proof of address and phone number must come from the same country, and that must be a genuine residence, not a PO box address. Our Nomad Package sets up a recognised address in the Philippines, including all required documents. Fully remote, no travel required. Ready in 1-2 weeks.

What's included in our service

  • Personal bank introduction
  • Document preparation and review
  • Application coordination
  • Ongoing support until the account is active
  • Compliance and AML guidance

All information is provided for general guidance only and does not constitute legal, tax, or financial advice. Regulations and bank policies change; always verify current requirements before proceeding.