Regulatory AlertsBahamas: fintech & payments regulation
Partially regulatedNo dedicated fintech license; payments regulated under BTCRA or AML guidelines
- Lead regulator
- Central Bank of The Bahamas
- Also involved
- Financial Services Commission (securities/investments) · Financial Intelligence Agency (AML)
- Core law
- Banks and Trust Companies Regulation Act 2020
- Entry capital
- —
- Approval timeline
- —
- Customer assets
- No specific e-money custody rule; general fiduciary duties apply
- Data protection
- Data Protection Act 2023 · Data Protection Commissioner
- Sandbox
- No
The Bahamas lacks a specific fintech or e-money license. Payment activities generally require a Bank or Trust Company license under the BTCRA 2020, or fall under AML/CFT guidelines for supervised institutions. The CB has discontinued new restricted bank licenses since 2012. E-money issuance is not explicitly regulated as a standalone category, creating uncertainty for pure-play fintechs.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | Uncertainverify with regulator No specific payment processor license; likely requires BTCRA license or AML compliance | — | — | — |
| E-money & wallet issuance | Uncertainverify with regulator No dedicated e-money regime; may require trust company license | — | — | — |
| Domestic money transfer | Uncertainverify with regulator Domestic transfers likely fall under banking or AML supervised entities | — | — | — |
| Cross-border remittance | Uncertain Cross-border payments subject to AML/CFT guidelines for supervised institutions | — | — | — |
| Agent network | Uncertainverify with regulator Agent networks for unlicensed entities face regulatory risk | — | — | — |
| Open banking / account information | Unregulated No open banking framework or mandate exists | — | — | — |
| Foreign-exchange services | Uncertainverify with regulator FX services likely require banking license or specific exemption | — | — | — |
New — what changed recently
- 2025-11-05Banks and Trust Companies (Private Trust Companies and Qualified Executive Entities) Regulations 2025 — Established statutory exemption framework for Private Trust Companies and Qualified Executive Entities under BTCRA 2020.[1]
- 2023-04-20Amended Streamlined Requirements for Account Opening — Updated AML/CFT guidelines to increase reloadable holding limits and streamline customer identification for supervised institutions.
Market-entry checklist
- 1Determine licensing pathAssess if BTCRA license is needed or if AML guidelines suffice for supervised status.
- 2Engage Managing AgentIf applying for a restricted license, appoint an approved third-party Managing Agent.
- 3Establish physical presenceEnsure at least two resident executive officers and one local non-executive director.
- 4Implement AML frameworkAdhere to CB's AML/CFT guidelines for customer identification and transaction monitoring.
- 5Register with FICRegister as a reporting entity with the Financial Intelligence Agency for AML compliance.