Permanent Residents in The Bahamas will Receive Tax Residence Certificates
Tax residency certificates have been issued in The Bahamas for those who have been given permanent residency, often through The Bahamas Permanent Residency Certificate. Only individuals who spend a minimum of 90 days in the Bahamas and no more than 183 days in another nation will be eligible for the Bahamas Tax Residency Certificates. They will have unique taxpayer identification numbers (TINs) that will show the holder’s country of birth or citizenship that the Bahamas is his primary abode and that his financial accounts are subject to CRS international information sharing agreements. The adjustment comes after the Organization for Economic Co-operation and Development (OECD) expressed concern that its residence-by-investment system was being utilized by money launderers and tax evaders to avoid CRS obligations.
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