Foreign Banks Operating in The Bahamas: Licensed Institutions

The Bahamas hosts a mature international banking sector. The following foreign-owned or foreign-affiliated banks are licensed by the Central Bank of The Bahamas to conduct banking business (as of recent public registers):

🏦 Licensed Foreign Banks

• CIBC FirstCaribbean International Bank — Canadian Imperial Bank of Commerce subsidiary (Barbados-headquartered)
• HSBC Bank Bahamas Limited — HSBC Group (UK/HK)
• Royal Bank of Canada (Bahamas) Limited — RBC (Canada)
• Scotiabank (Bahamas) Limited — Scotiabank (Canada)
• Bank of The Bahamas (BOB) — domestic but with foreign ownership history (now majority Bahamian-owned)
• Trust Company of The Bahamas Limited — trust & wealth management (foreign-affiliated)

📋 Regulatory Context

• All banks licensed under Banks and Trust Companies Regulation Act, 2020
• Supervised by Central Bank of The Bahamas + Securities Commission (for investment business)
• Comply with AML/CFT, FATCA, CRS — automatic exchange of information

🏝️ Why The Bahamas?

• Tax-neutral (no income, capital gains, withholding tax)
• English common law, stable currency (BSD = USD 1:1)
• Proximity to US, time zone alignment
• Private banking, trust, fund administration focus

Note: Many global banks (JPM, Citi, UBS, Julius Baer) operate via representative offices or affiliated trust companies — not full banking licenses. Check Central Bank register for current license status.