Regulatory Alerts2019-06-26
Reliance on Eligible Introducers for KYC
The Central Bank of The Bahamas waives the standard thirty-day rule requiring licensees to obtain KYC documentation from eligible introducers, subject to strict conditions. Eligible introducers must be designated financial institutions within the licensee’s financial group and located in a First Schedule country, while providing written due diligence confirmation and supplying requested documents within three days. Licensees incorporating international business companies and offering registered agent services must additionally maintain a shareholders’ register under the International Business Companies Act, 2000.
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