Persons engaged in the business of advising on or managing
securities have the flexibility of setting up business in The
Bahamas without having, directly, to be physically
present. This concept has been carried over from prior
legislation and policies of the Securities Commission of The
Bahamas ("SCB") which permitted securities investment
advisors to establish physical presence via a "managing
representative". The difference now is that this flexibility
is only available to those firms who advise on or manage
securities.
What is physical presence?
Generally, all persons engaged in securities business activities
in or from The Bahamas are required, in order to obtain
registration with the SCB, to have a physical presence in The
Bahamas. This includes having within The Bahamas: (i)
governance and management (a chief executive officer and at least
one director) (ii) premises and facilities and (iii) records and
record-keeping arrangements.
