The Bahamas and Barbados, two Caribbean nations, are popular choices for diversifying your holdings through banking. Both countries have stable economies and political systems as independent states within the British Commonwealth. With progressive laws and modern banking facilities, they are considered reliable options for managing your funds. The Bahamas, in particular, has been known as a significant financial hub, although recent financial legislation implemented in December 2000 has led to some international corporations leaving the country. These changes have resulted in the closure or relocation of approximately 30,000 businesses. Furthermore, banking secrecy in the Bahamas has been compromised to some extent due to the signing of the ‘Tax Information Exchange Agreement’ (TIEA) with the United States, which addresses civil and criminal matters. As a result, more than 200 private banks have closed in the Bahamas. Conversely, Barbados is experiencing growth as a favorable business destination.