Bahamas Amending Economic Substance and Beneficial Ownership Register Legislation to Address Remaining Issues for Removal from Non-Cooperative Lists

According to a release from the Bahamas Office of the Prime Minister, a compendium of bills was presented in the House of Assembly on 6 December 2023, including the Commercial Entities (Substance Requirements)(Amendment) Bill 2023 (CESRA) and The Register of Beneficial Ownership (Amendment) Bill 2023 (ROBO), which collectively address remaining reforms to become compliant with economic substance reporting standards to ensure that the Bahamas is off the non-cooperative list for the OECD and E…