The Caribbean's original offshore financial centre, zero income tax, proximity to the US, digital assets licensing since 2020, and a private banking tradition dating back to the 1930s.
The Bahamas has been an offshore financial centre since the 1930s — the longest track record in the Caribbean. Zero income tax, zero corporate tax, USD currency, proximity to Florida, and English language combine with a significantly strengthened DARE digital assets framework post-FTX. Removed from FATF grey list May 2024. The Bahamas is rebuilding on stronger foundations in 2026.
The Bahamas established itself as an offshore financial centre in the 1930s, making it one of the oldest and most established jurisdictions in the Caribbean. With 700+ islands, proximity to the US (50 miles from Florida), zero income tax, zero capital gains tax, and zero corporate tax, the Bahamas combines natural appeal with genuine financial substance. The Central Bank of the Bahamas (CBB) and the Securities Commission of the Bahamas (SCB) oversee a sophisticated financial sector including banks, investment funds, trust companies, and, since the passage of the Digital Assets and Registered Exchanges (DARE) Act 2020, a growing digital assets sector. The Bahamas made global news in 2022 when FTX collapsed from its Nassau headquarters, a significant reputational event that accelerated regulatory reform and demonstrated the SCB's willingness to act decisively. In 2026 the DARE framework has been significantly strengthened, and the Bahamas is rebuilding its digital assets reputation on stronger foundations.
The FTX collapse highlighted that Bahamas-licensed digital asset businesses require careful due diligence. The strengthened DARE framework provides better protection but always verify CBB/SCB licensing status before depositing with any Bahamas digital asset firm. US persons face full FATCA reporting. The Bahamas does not offer tax advantages for US worldwide income, only for income genuinely sourced to the Bahamas.
Rankings updated weekly. Last updated: Sep 13, 2026
The Central Bank of the Bahamas issued updated guidance reinforcing enhanced due diligence requirements for non-resident account holders under the revised AML/CFT framework effective Q3 2026. The circular clarifies beneficial ownership verification thresholds, lowering the reporting trigger from 25% to 20% ownership stakes for corporate account applicants. Licensed banks have been given until October 31, 2026 to align internal compliance procedures with the updated standard.
The Securities Commission of the Bahamas confirmed that two additional digital asset service providers have completed registration under the Digital Assets and Registered Exchanges (DARE) Act 2024 amendment framework, bringing the total number of fully licensed DARE entities to nineteen. This follows accelerated post-FTX regulatory restructuring that tightened custody segregation and client asset protection rules introduced in late 2024. The SCB noted ongoing supervisory review of a further four applicants currently in the provisional approval pipeline.
The Central Bank of The Bahamas issued updated guidance under the DARE Act framework clarifying enhanced due diligence thresholds for digital asset custodians operating under Class F licenses, effective Q4 2026. The circular specifically addresses stablecoin reserve attestation requirements and mandates quarterly third-party audits for institutions holding digital asset deposits exceeding BSD 10 million. This move reflects continued post-FTX institutional hardening of the Bahamas digital asset supervisory posture.
The Securities Commission of The Bahamas confirmed that two international banking institutions have submitted applications for updated SCB registration under the revised 2025 Digital Assets and Registered Exchanges Act amendments, with decisions expected by end of October 2026. Industry observers note a measurable uptick in institutional interest from European private banking groups seeking Caribbean digital asset access points following MiCA compliance pressures in the EU. The SCB reiterated that all applicants must demonstrate ring-fenced capital reserves and segregated client asset structures before approval.
The Central Bank of the Bahamas issued updated guidance clarifying enhanced due diligence thresholds for non-resident account holders under its ongoing post-FTX reforms, effective Q4 2026. The circular reinforces requirements for licensed institutions to maintain documented beneficial ownership records refreshed on at least an annual cycle. This aligns with commitments made to FATF ahead of the Bahamas' next mutual evaluation review.
The Securities Commission of the Bahamas confirmed that two digital asset service providers operating under the DARE Act framework have successfully completed their first full annual compliance audit cycle since the 2024 DARE Act amendments came into force. Both entities received no material findings, signaling a maturing compliance posture in the Bahamian digital asset sector. Industry observers note this may support renewed interest from institutional clients seeking DARE-licensed counterparties.
The Central Bank of the Bahamas published updated guidance on beneficial ownership reporting thresholds under its post-FTX digital asset oversight framework, clarifying that licensed banks and trust companies must file enhanced due diligence reports for digital asset-linked accounts exceeding $50,000 USD equivalent. The guidance takes effect October 1, 2026, and aligns with revised FATF Recommendation 16 travel rule standards adopted regionally. Institutions have been advised to update internal compliance manuals and submit readiness attestations to the CBB by September 25, 2026.
The Securities Commission of the Bahamas confirmed that two DARE Act-registered digital asset businesses completed their transition to full operational licensing status this week, reducing the number of entities still operating under provisional DARE Act permits to eleven. The SCB reiterated that provisional licenses not converted by December 31, 2026 will be administratively withdrawn, signaling a tightening of the post-FTX regulatory cleanup timeline. Industry observers noted this represents measurable progress in restoring institutional confidence in the Bahamas digital finance sector following the 2022 FTX collapse.
The Central Bank of the Bahamas issued updated guidance under its enhanced AML/CFT supervisory framework, reinforcing beneficial ownership verification requirements for non-resident account holders effective Q4 2026. The circular aligns with FATF's 2025 revised recommendations and places additional due diligence obligations on licensees onboarding international business clients. Institutions are directed to complete gap assessments and remediation plans no later than November 30, 2026.
The Securities Commission of the Bahamas confirmed continued progress on its post-FTX digital assets regulatory review, with final amendments to the DARE Act implementation rules expected to be tabled before the end of Q3 2026. Stakeholder consultation closed September 5, and the SCB indicated that revised crypto-asset service provider licensing thresholds and custody segregation rules are among the primary updates under consideration. The changes are intended to further distance the jurisdiction from reputational risks associated with the 2022 FTX collapse.
The Central Bank of the Bahamas (CBB) issued updated guidance on enhanced beneficial ownership verification procedures for licensees operating under the DARE Act framework, effective Q4 2026. The circular reinforces alignment with FATF Recommendation 24 standards and requires all digital asset service providers to submit updated ownership registers by October 31, 2026. This follows the broader post-FTX regulatory tightening that began in 2023 and has progressively strengthened disclosure obligations across the jurisdiction.
The Securities Commission of the Bahamas (SCB) confirmed that two digital asset business license applications remain under active review as of September 2026, reflecting continued cautious growth in the sector following reforms introduced in the wake of the FTX collapse. The SCB reiterated its commitment to maintaining the DARE Act as a living regulatory instrument, with a formal review cycle scheduled for early 2027. Industry observers note that new applicants face more rigorous capital adequacy assessments than those applied during the 2021-2022 licensing wave.
The Central Bank of the Bahamas has issued updated guidance under its ongoing post-FTX digital asset supervisory framework, reinforcing enhanced due diligence requirements for financial institutions handling virtual asset-adjacent correspondent relationships. Banks are required to demonstrate documented risk assessments for any counterparty with indirect exposure to digital asset settlement rails by Q4 2026. This builds on DARE Act enforcement priorities communicated in the CBB's Q2 2026 supervisory letter.
The Securities Commission of the Bahamas confirmed continued progress on its Digital Assets and Registered Exchanges framework review, with a public consultation window on proposed fee structure amendments closing September 19, 2026. Stakeholders in the private banking and international business company sectors have been flagged as primary respondents. The consultation signals a modest tightening of registration cost structures for smaller DARE-licensed entities.
The Central Bank of the Bahamas (CBB) issued updated guidance reinforcing beneficial ownership disclosure requirements for all licensed banking institutions, aligning with FATF Recommendation 24 implementation timelines. The circular clarifies that all banks must maintain real-time beneficial ownership registers accessible to CBB examiners by Q1 2027, with interim compliance checkpoints beginning October 2026. Non-compliant institutions face suspension of new account onboarding privileges pending remediation.
The Securities Commission of the Bahamas (SCB) confirmed ongoing review of Digital Assets and Registered Exchanges (DARE) Act licensing conditions for custodial service providers, a process accelerated following post-FTX legislative reforms. Two previously provisionally licensed digital asset platforms operating under DARE framework have been confirmed as progressing to full license status after completing enhanced AML/CFT audits. This signals continued stabilization of the Bahamas digital asset regulatory environment approximately three years after the FTX collapse.
The Central Bank of the Bahamas issued updated guidance on beneficial ownership reporting thresholds under its ongoing post-FTX reform framework, reinforcing requirements for digital asset custodians operating under the DARE Act to file quarterly attestations with the SCB. Institutions holding custodial digital assets above BSD 500,000 in aggregate client value must now submit enhanced liquidity disclosures by Q3 2026 close. This aligns with the SCB's broader push to strengthen investor protection standards following the sector-wide review initiated in late 2023.
A mid-tier international private bank operating under a Bahamian Class B banking licence confirmed the completion of its core banking system migration to a cloud-compliant infrastructure, meeting CBB technology risk management guidelines updated in early 2026. The transition affects approximately 1,200 non-resident client accounts and is expected to improve onboarding KYC processing times by an estimated 30 percent. No service interruptions or regulatory sanctions were associated with the migration process.
The Central Bank of the Bahamas issued updated guidance reinforcing AML/CFT compliance obligations for licensees operating under the DARE Act framework, with particular attention to virtual asset service providers. The circular clarifies beneficial ownership verification timelines and sets a Q4 2026 deadline for full implementation of enhanced customer due diligence protocols across all Category A and B banking licensees.
The Securities Commission of the Bahamas confirmed that post-FTX reform measures introduced under the Digital Assets and Registered Exchanges Act continue to show measurable compliance uptake, with 94% of registered digital asset entities now meeting revised custody and reporting standards as of the September 2026 audit cycle. Several mid-tier digital asset firms have signaled plans to seek expanded banking correspondent relationships under the reformed licensing regime, reflecting growing institutional confidence in the jurisdiction.
The Central Bank of the Bahamas issued updated guidance on beneficial ownership verification thresholds under the amended Financial Transactions Reporting Act framework, effective Q4 2026. Licensed banks and trust companies are required to implement enhanced due diligence protocols for non-resident account holders with aggregate balances exceeding BSD 500,000. Compliance attestations must be submitted to the CBB no later than October 31, 2026.
The Securities Commission of the Bahamas confirmed that two additional digital asset service providers have received conditional approval under the DARE Act 2024 regulatory framework, bringing the total licensed DASP count to seventeen as of September 2026. The SCB noted that post-FTX safeguarding requirements, including mandatory client asset segregation and monthly proof-of-reserves attestations, remain strictly enforced with no announced modifications. This consolidation signals a maturing but cautious digital assets sector within the jurisdiction.
The Central Bank of the Bahamas issued updated guidance on beneficial ownership reporting thresholds under its ongoing post-FTX reform framework, requiring licensed banks and digital asset service providers to submit enhanced CDD documentation for entities with complex ownership structures exceeding two tiers. The circular reinforces existing DARE Act obligations and sets a compliance deadline of October 31, 2026 for affected institutions. Non-compliant licensees face expedited licensing review and potential suspension of digital asset permissions.
The Securities Commission of the Bahamas confirmed that two registered digital asset businesses have completed their transition to full DARE Act licensure following the 2023 amendment cycle, reducing the backlog of provisional licensees to fewer than five institutions. This signals continued progress in the SCB's effort to formalize the digital asset sector following reputational exposure from the FTX collapse. Market observers note that correspondent banking relationships for compliant Bahamas-licensed entities have stabilized following earlier de-risking pressures from U.S. and EU counterparts.
The Central Bank of the Bahamas (CBB) has confirmed that enhanced beneficial ownership verification requirements, introduced under the post-FTX digital asset reform package finalized in Q1 2026, enter their mandatory enforcement phase today, September 1, 2026. All licensed banks and trust companies must now submit quarterly beneficial ownership attestations through the CBB's updated supervisory reporting portal. Institutions that have not yet migrated to the new reporting framework face formal compliance notices beginning this quarter.
Bahamas-licensed private banking institutions are reporting continued inflows from Latin American high-net-worth clients through Q3 2026, with the BFSB noting a measurable uptick in new account applications linked to restructured DARE Act provisions that streamlined digital asset custody services alongside traditional private banking. Sector observers attribute the trend partly to the Bahamas' stable post-FTX regulatory reputation and FATF-compliant framework, which has reinforced correspondent banking relationships with major US and European institutions.
The Central Bank of the Bahamas issued updated guidance clarifying reporting thresholds under the DARE Act's digital asset custodian provisions, effective for all licensed institutions as of end of Q3 2026. Licensed banks and trust companies holding digital assets on behalf of clients are now required to file enhanced quarterly disclosures covering counterparty concentration risk. The clarification follows an internal review cycle initiated after the post-FTX supervisory overhaul completed in late 2024.
The Securities Commission of the Bahamas confirmed that two previously provisional digital asset business licences granted under the DARE Act framework have been upgraded to full operational status following satisfactory completion of compliance audits. This brings the total number of fully licensed digital asset operators in the jurisdiction to seventeen as of August 31, 2026. The development signals continued measured growth in the sector following the regulatory tightening implemented after the FTX collapse.
The Central Bank of the Bahamas issued updated guidance reinforcing enhanced due diligence requirements for correspondent banking relationships under its post-FTX reform framework, with full compliance expected by Q4 2026. The circular specifically addresses digital asset custodians seeking banking access, requiring segregated fiat accounts and quarterly attestations of asset-liability reconciliation. Institutions failing to meet the updated standards face provisional licence restrictions pending remediation review.
The Securities Commission of the Bahamas confirmed that three DARE Act-registered digital asset businesses completed their transition to full operational licences during August 2026, bringing the total active DARE licence count to 29. The SCB noted that pipeline applicants currently number 11, with two applications under final adjudication expected to conclude before end of September 2026. This steady licensing momentum signals continued institutional confidence in the Bahamas as a regulated digital asset jurisdiction.
The Central Bank of the Bahamas has issued updated guidance circular reinforcing enhanced due diligence requirements for correspondent banking relationships, effective Q4 2026. The guidance aligns with FATF Recommendation 13 standards and reflects ongoing post-FTX remediation efforts to strengthen transaction monitoring frameworks across licensed institutions. Banks are required to submit compliance attestations by November 30, 2026.
The Securities Commission of the Bahamas confirmed that three additional digital asset service providers have completed DARE Act registration requirements this week, bringing the total of fully licensed DARE entities to 31. This incremental expansion signals continued investor confidence in the Bahamas digital asset regulatory framework despite broader Caribbean market headwinds. SCB officials noted that sandbox applications for Q1 2027 will open September 15, 2026.
The Central Bank of the Bahamas issued updated guidance clarifying enhanced due diligence thresholds under the revised Bank and Trust Companies Regulation Act framework, effective Q4 2026. The circular reinforces transaction monitoring obligations for digital asset-adjacent accounts following the post-FTX reform cycle that began in 2023. Licensed institutions are directed to submit updated compliance attestations by October 15, 2026.
The Securities Commission of the Bahamas confirmed that two additional digital asset business applicants received conditional DARE Act registration approvals this week, bringing the total registered DARE entities to 31. The SCB noted that ongoing supervisory reviews are focusing on custody segregation standards and cross-border reporting obligations. This incremental expansion reflects the Bahamas' continued effort to position itself as a regulated digital asset hub post-FTX.
The Central Bank of the Bahamas issued updated guidance reaffirming enhanced due diligence requirements for correspondent banking relationships under its post-FTX digital asset framework, with institutions required to certify compliance attestations by September 30, 2026. The circular specifically addresses residual exposure risks from collapsed crypto intermediaries and mandates quarterly stress-testing disclosures for banks holding any digital asset-adjacent client portfolios. Non-compliant institutions face suspension of new account onboarding privileges pending remediation.
The Securities Commission of the Bahamas confirmed that two DARE Act-licensed digital asset businesses have successfully completed their annual renewal audits for 2026, signaling continued stabilization of the regulatory cohort following the post-FTX contraction period. The SCB noted that the total number of active DARE licensees remains at 14, unchanged from the prior quarter, with three applications currently under review. Industry observers view the stable licensee count as a positive indicator of regulatory confidence in the Bahamas digital asset framework.
The Central Bank of the Bahamas issued updated guidance on beneficial ownership verification thresholds under the Banks and Trust Companies Regulation Act, tightening UBO disclosure requirements to align with FATF 2025 recommendations. Licensed institutions are now required to confirm ultimate beneficial ownership down to a 10% threshold, reduced from the previous 25%, effective October 1, 2026. Compliance officers at CBB-licensed banks are expected to update onboarding procedures and submit implementation plans by September 15, 2026.
The Securities Commission of the Bahamas released a progress report on the post-FTX Digital Assets and Registered Exchanges Act enforcement framework, confirming that two additional digital asset custodians have received conditional approval to operate under the updated DARE Act amendments enacted in early 2026. The SCB noted that applicants must now demonstrate segregated client asset custody through quarterly third-party audits as a standing licence condition. This development signals continued cautious reopening of the Bahamas digital asset sector following the reputational impact of the 2022 FTX collapse.
The Central Bank of the Bahamas issued updated guidance reinforcing enhanced due diligence thresholds for non-resident account holders under the ongoing post-FTX supervisory framework, effective Q4 2026. Institutions are reminded that beneficial ownership verification requirements introduced in the 2024 AML amendments must be fully embedded in onboarding workflows by October 1, 2026. Banks operating under the DARE Act digital asset framework are specifically flagged for compliance audit readiness.
The Securities Commission of the Bahamas confirmed the renewal of two existing digital asset business licenses under the DARE Act, reflecting continued regulatory confidence in the jurisdiction's crypto-adjacent banking sector. Both entities are understood to offer custody-adjacent treasury services to institutional clients. No new license approvals or revocations were recorded in today's SCB register update.
The Central Bank of the Bahamas (CBB) issued updated guidance on beneficial ownership verification thresholds for digital asset-linked bank accounts operating under the DARE Act framework, effective Q4 2026. The clarification tightens identity verification requirements for accounts holding or transacting in tokenized assets, aligning Bahamian standards more closely with FATF Recommendation 16 on virtual asset service providers. Institutions have until November 1, 2026 to update internal compliance procedures.
Two smaller Bahamas-licensed banks have reportedly begun voluntary discussions with the CBB regarding operational restructuring following continued post-FTX reputational scrutiny affecting new client onboarding in the crypto-adjacent segment. The SCB confirmed no formal enforcement actions are currently pending, but enhanced supervisory monitoring remains in place for institutions with digital asset exposure above defined concentration limits. This reflects the ongoing sector-wide recalibration that began following the FTX collapse in late 2022.
The Central Bank of the Bahamas issued updated guidance on beneficial ownership verification thresholds under its ongoing post-FTX reform framework, lowering the reporting threshold for virtual asset-linked correspondent banking relationships from 25% to 10% ownership. The circular, effective September 1, 2026, requires all licensees to update internal CDD procedures and submit compliance attestations to CBB by October 15, 2026. This reflects continued tightening of AML/CFT controls following international pressure from FATF and the IMF's 2025 Bahamas Article IV consultation.
The Securities Commission of the Bahamas confirmed that two DARE Act-registered digital asset entities have voluntarily surrendered their licenses in August 2026, citing compliance cost pressures and shifting client bases to Dubai and Singapore. The SCB noted that total active DARE Act registrations now stand at 38, down from a peak of 49 in mid-2024, signaling ongoing consolidation in the Bahamas digital asset sector following post-FTX regulatory intensification. The Commission stated it expects the sector to stabilize by Q1 2027 as remaining licensees complete capital adequacy upgrades.
The Central Bank of the Bahamas has issued updated guidance reaffirming enhanced beneficial ownership verification requirements under the amended Banks and Trust Companies Regulation Act, with full compliance expected by Q4 2026. Licensed institutions are required to submit updated internal AML/KYC framework certifications to the CBB no later than September 30, 2026. This follows a broader post-FTX reform cycle that began in late 2022 and has progressively tightened digital asset and fiat account monitoring obligations.
The Securities Commission of the Bahamas confirmed that two additional digital asset businesses have received conditional approval under the DARE Act 2024 amendments, bringing the total licensed or conditionally approved digital asset entities to 19. Authorities emphasized that ongoing supervision includes quarterly liquidity stress-testing requirements introduced following the FTX collapse. The SCB reiterated that any entity offering custody or exchange services must maintain segregated client asset accounts with a CBB-supervised correspondent bank.
The Central Bank of the Bahamas (CBB) issued updated guidance reinforcing compliance timelines under the Digital Assets and Registered Exchanges (DARE) Act 2024 amendments, requiring all registered digital asset businesses to complete enhanced AML/CFT framework submissions by Q4 2026. The guidance follows ongoing post-FTX supervisory reform efforts and is intended to align Bahamian digital asset oversight more closely with FATF Recommendation 15 standards. Firms with outstanding disclosure gaps have been notified directly by the Securities Commission of the Bahamas (SCB).
Two mid-tier international banks licensed under the CBB reported completion of their internal Basel III liquidity coverage ratio recalibrations ahead of the CBB's September 1, 2026 deadline, signaling broad sector readiness for the updated prudential standards. The CBB has indicated it will conduct targeted on-site reviews of remaining institutions during September and October 2026 to verify compliance. This activity reflects the broader post-2023 tightening of bank supervision across the jurisdiction.