NASSAU, The Bahamas, (June 4, 2014) – Baha Mar, the $3.5-billion integrated destination gaming resort, and SLS Hotels today announced the signing of an agreement that will see SLS Hotels manage Baha Mar’s 300-room luxury lifestyle hotel, including 107 residences.

SLS at Baha Mar will be the brand’s first international venture, and will complement SLS’ soon-to-open hotels and resorts in Las Vegas, New York, Philadelphia, Seattle, Brickell, Miami and China, as well as its signature hotels in Beverly Hills, California and Miami Beach, Florida.

SLS Hotels, which is a division of global hospitality company sbe, joins Baha Mar’s portfolio of hotels, including Rosewood, Grand Hyatt and the Baha Mar Casino & Hotel, which will cater to an array of upscale international guests.

The 20-year management agreement will see the SLS Hotel at Baha Mar make its debut at the scheduled December 2014 opening of the resort.

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On April 17, 2014, the government of The Bahamas entered into an agreement, in substance, with the government of the United States to comply with the US Foreign Accounts Tax Compliance Act (FATCA) through a Model I Inter-Governmental Agreement (IGA) on a non-reciprocal basis.

The Bahamas Ministry of Financial Services has published an industry briefing note with frequently asked questions to help services providers prepare for the changes in reporting requirements.

View or download a PDF of the document here.

More than 2,300 couples in the US have entered the “16 weddings, 16 islands” competition organized by the Bahamas Ministry of Tourism.
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PARADISE ISLAND, The Bahamas and LAS VEGAS, June 2, 2014 /PRNewswire/ — Atlantis, Paradise Island (“Atlantis”), the renowned casino resort in Paradise Island, The Bahamas, announced today that it has released lines for weeks one to sixteen of the NFL season, allowing customers to place bets on football teams and games before the season begins.

“We expect the upcoming NFL season will be a popular time for sports wagering enthusiasts,” said George Markantonis, President and Managing Director of Atlantis, Paradise Island. He added: “We are delighted to welcome visitors to the Atlantis Race & Sports Book in advance of the season beginning.”

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TAMPA, Fla.–(BUSINESS WIRE)–Syniverse today announced it has signed an agreement with Bahamas Telecommunications Company (BTC) to provide an LTE roaming trial environment that will enable BTC’s transition to 4G roaming services. The agreement underscores Syniverse’s position as an LTE leader and also builds on Syniverse’s long relationship with BTC.

“Customer expectations for speed and stability are higher than ever, and it’s critical that we’re able to provide optimal experiences for our customers, whether they’re at home or traveling,” said Geoff Houston (right), CEO, BTC. “Our work with Syniverse is an important step to ensure we deliver on these expectations, enabling a seamless, trouble-free experience for our Customers as they roam from one LTE network to another.”

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The Bahamian-owned and operated Commonwealth Bank (CB) announced Monday that it has teamed up its SunCard credit card with globally recognized MasterCard, offering increased benefits to its local customer base.

“It is a testament to the strength and stability of Commonwealth Bank and the reputation of SunCard that MasterCard has come on board for this partnership which is actually a triangle of respected brands–Commonwealth Bank, SunCard and MasterCard,” said Ian Jennings, CB’s president.

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In one of her first engagements since her appointment as tourism director general earlier this month, Joy Jibrilu travelled to Freeport last week to meet with stakeholders in the tourism industry at the new Memories Resort on Grand Bahama.
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The Miami Dolphins Legends hosted a Weekend in The Bahamas, showcasing a partnership with the tropical islands, complete with Hall of Fame quarterback Dan Marino in attendance. The Bahamas will serve as the official island destination of Miami Dolphins Legends in a newly launched, five-year deal. Marino, along with 11 Dolphins greats, enjoyed a weekend packed full of golf at the Ocean Club at Atlantis, a sunset cruise and a youth clinic hosted by the Miami Dolphins Alumni and Dolphins Academy.

“This partnership is mutually beneficial for all the Dolphins fans we have eager to visit this island paradise as well as all the Dolphins fans we have in The Bahamas looking to connect with our team in Miami,” said Miami Dolphins President & CEO Tom Garfinkel. “We’re delighted Dan Marino and the Miami Dolphins Legends can bridge our two communities in such a meaningful way.”

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This is an excerpt from Official Website of the Miami Dolphins as it appeared on June 2, 2014. For updates or to read the current version of this post in its entirety, please click here.

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The Bahamas is to introduce a value-added tax regime with a 7.5 percent headline rate from January 1, 2015, according to the territory’s latest Budget for 2014/15, released on May 28, 2014. As well as delaying implementation for three months until January 1, 2015, the rate is halved from earlier proposals for a 15 percent headline rate, and the regime will include fewer exemptions.

After taking on advice from international experts, The Bahamas will instead adopt a simpler regime featuring a single rate with only exports to be zero rated. Fewer exemptions are to be allowed, and a list of such is to be released by the Government shortly.

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This is an excerpt from Tax-News.com as it appeared on June 2, 2014. For updates or to read the current version of this post in its entirety, please click here.

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Senior vice president of operations at Baha Mar, Robert Sands, says that the megaresort is satisfied with the amount of airlift available to bring visitors to New Providence once the hotel development on Cable Beach is opened in Decemeber.
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