Banking secrecy in The Bahamas is strictly enforced by law. Access to bank records is only available to signatories on the account and to no one else. Proving to a Bahamian court would materially aid in the prosecution of a criminal act. Could an outside agency possibly be granted access? Tax avoidance or even tax evasion are not considered criminal matters in The Bahamas. There are no taxes here, and no statutes relating to them, rendering it impossible for a court to give a decision even if asked.
There are, however, severe penalties for money laundering and both banks and management companies endeavor to ensure that the funds handled are of clean, non-criminal origin, whether tax has been paid on them or not. To this end, most banks require that you personally open your account. If you are unable to do so, we make special arrangements for you. We urge you to make this effort.
