Banking Law

The second pillar of the Bahamian economy is banking and financial services. The Bahamas is recognized internationally as a leading banking and financial jurisdiction with some of the world's most recognized financial institutions with offices here. The Bahamas has not only been an innovator in the financial services sector in the number of products and services but also in the provision of local professionals needed to keep the industry robust and strong. The Bahamas offers all this in the backdrop of a well regulated framework with the Central Bank its primary regulator. Evans and Co. while its primary area of endeavor is the practice of law, the firm is also regarded as a Financial and Corporate Service Provider under Section 119(3) (b) of the Financial and Service Providers Act, Chapter 369 (FCSPA). Therefore, is a licensed Financial and Corporate Service Provider.

The fight against money laundering and the financing of terrorism is a global one. The Bahamas as a member of the global community has passed (and updated laws) to ensure that The Bahamas and those that offer banking and related services within its borders stay vigilant, as well as, pro active with regards to protecting this jurisdiction from illegal activities and to preserve its position as a leading international financial jurisdiction.

Laws are constantly being passed to keep abreast with global changes and challenges. The Bahamas is a well regulated jurisdiction, therefore, strict rules that must be followed in order to receive and to maintain a license to do banking and trust business here in The Bahamas as a financial intuition.

Evans & Co. can assist in the provision of legal advice required to obtain a license to conduct business within The Bahamas and to retain your license after it has been granted.

In an effort to ensure that The Bahamas financial services sector remains on the cutting edge of providing exceptional financial services internationally, the Government has brought in several pieces of key legislation which have been amended to meet the ever changing obligations under international agreements, such as:
  • The Banks Act
  • The Banks and Trust Companies Regulation Act, 2000
  • The Financial Transaction Reporting Act, 2000
  • The Financial Intelligence Act, 2000
  • The Financial and Corporate Providers Act 2000
  • The Proceeds of Crime Act, 2000
The foregoing Acts (and amendments) together with a slew of other related Acts are designed to increase the international competitiveness of The Bahamas by ensuring transparency and a high degree of competence and compliance by financial service providers.

When seeking legal representation in this particular area of Bahamian commerce it is advisable to do your due diligence carefully in order to avoid any mistake that could prove to be costly.

Evans & Co. has lawyers that have experiences in banking and other financial areas; they are fully equipped to provide legal assistance with the following:
  • Company Incorporation
  • Application for License to operate as Bank & Trust Company
  • Acquisition and Mergers of Banks & Trust Companies
  • Liquidations and Receiverships
  • Securing Bank Loans to Corporations, Individuals & Un-Incorporated Bodies
  • Mortgages & Repossessions
  • Establishing Banking Relationship for Foreign & Domestic Investors
Thomas A.E. Evans Q.C and Ms. Veronique Evans are the attorneys responsible for advising the clients of Evans and Co. on Bahamian Banking Law. Mr. Evans has presented papers on this subject at international conferences and written articles for national and international publication.


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