Many Bahamian financial institutions (“BFIs”) are now preparing to commence reporting to the Bahamian Government on accounts held by U.S. persons pursuant to The Bahamas and the United States of America Foreign Account Tax Compliance Agreement Bill, 2015 (the “FATCA Bill”). Although the FATCA Bill is not yet in force, it is anticipated that it will be passed by Parliament imminently.

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Amendments to the Nominee Regime of Bahamian Companies

The enhanced requirements for nominee shareholders impose clear obligations on both nominee shareholders and companies to ensure that beneficial...

VAT Update in The Bahamas

VAT Exemption on Unprepared Foods Effective 1 April 2026 unprepared foods will be exempt from VAT. Note, however, that...