This morning the Ministry of Finance of The Bahamas announced that The Bahamas has been completely removed from the EU’s List of Non-Cooperative Jurisdictions for Tax Purposes, having addressed the EU’s concerns on economic substance, removal of preferential exemptions and automatic exchange of tax information.
A link to the press release issued by the Ministry of Finance can be viewed here.
The Bahamas’ Common Reporting Standard (“CRS”) framework requires that Financial Institutions (“FIs”) not yet registered must do so by 15 June 2026.
Land reform is fast approaching the shores of The Bahamas with Parliament having debated and approved the Land Adjudication Bill 2025 and the Registered Land Bill 2025 which will become law once signed by the Governor General.
On 20 February 2024, the Council of the European Union (“EU”) met and approved its list of non-cooperative jurisdictions for tax purposes (the “List”), which removed The Bahamas from the List. The removal of the Bahamas from the List highlights the efforts taken by...
The long-awaited implementation of key digital infrastructure to advance the administration of the judicial system in The Bahamas is finally here. Since the official Gazette publication notice on 6 September 2023 of the imminent arrival of the Supreme Court...
Brief Summary The Government of The Bahamas has amended the Immigration (Fee) Regulations, effective 01 July 2023. Some noteworthy changes [1] are the addition of a 5% Levy on some work permit fees and the further categorization and increase of fees for Economic...