How to become a Licensee

Requirements to become a Licensee

1. Any person who being a citizen of The Bahamas or a permanent resident –
   1. whose permanent residence certificate permits him to engage in gainful occupation; or
   2. in possession of a valid work permit,
   3. and who –
      1. is registered as a member of the Bahamas Institute of Chartered Accountants;
      2. has satisfied prescribed public practice requirements; and
      3. engages in public practice either alone or as an owner in a firm or partnership of public accountants;
   shall make application to the Council for a licence in the prescribed form.
2. The Council shall, upon satisfaction of the conditions of subsection (1) of the Bahamas Institute of Chartered Accountants Act, 2015 being met and on payment of the prescribed fee, issue a licence to that person.

Please refer to the Bahamas Institute of Chartered Accountants Act, 2015 (as well as any revisions to this legislation) for additional details.

Application Process:

An application for a licence shall be made in Form 8 of the First Schedule and shall be submitted to the secretary together with -

1. an application fee of $100;
2. a recommendation from a public accountant certifying that to the best of the knowledge of that public accountant the applicant is of good character;
3. evidence supporting that the applicant for an accumulative period of thirty-six months, has met the requisite public practice requirements referred to in Part III of the Bahamas Institute of Chartered Accountants Act, 2015.

An application for a licence shall be considered by the Council and the Council may require the applicant to provide any additional information required at any time after receipt of the application and before a final decision is made in respect of the applicant.

Upon consideration of all of the information provided, the Council may grant or refuse the application.