Bahamas Tourism Ministry put together a series of promotional videos about the jurisdiction.
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The Bahamas must be flexible in order to strengthen its reputation as a leading fi-nancial centre and attract new business, according to Minister of Financial Services Ryan Pinder (right) who said his Ministry will target new markets to build the country’s brand.

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Director of Financial Services at the Ministry of Financial Services Nicola Virgill-Rolle speaking at MLRO Day 2013. (Photo Harry Cutting/©Dupuch)

Following the announcement that The Bahamas will follow a Model 1 Intergovernmental Agreement (IGA) when complying with next year’s Foreign Account Tax Compliance Act (FATCA), the Ministry of Financial Services said yesterday that decision was taken to reduce the burden on the private sector and safeguard key sectors such as trusts and funds.

In complying with FATCA, Governments can follow two reporting models. The Model 1 IGA allows for Foreign Financial Institutions (FFIs) to disclose the necessary information on their US clients to their government which, in turn, is then passed on by that government to the US Treasury. A Model 2 IGA requires FFIs to report directly to the US Treasury themselves.

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Orlando’s Cameron Kirkconnell travels to remote locations spearfishing some of the most exciting destinations in the world. Watch a video of one of his recent spearfishing trips in The Bahamas here.
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The Culinary and Hospitality Management Institute at the College of The Bahamas is hosting a tourism industry conference this week at Atlantis Paradise Island.
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Opportunities abound for compliance officers as the government targets niche industries, according to Minister of Financial Services Ryan Pinder who urged attendees at yesterday’s Money Laundering Reporting Officers (MLRO) Day to “own their segment” of the financial services sector.

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As the government prepares to roll out its wide-ranging tax reform programme, Minister of State in the Ministry of Finance Michael Halkitis today assured the financial community that the new regime will “meet the increasingly complex financial needs of our nation [and] underpin enhanced economic growth prospects for the future.”

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HG Christie is marketing a luxury beachfront residence on Treasure Cay Beach. Watch the video here.
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A delegation of Caribbean officials responsible for the development of the small and medium-sized enterprise sector participated in the Annual Conference of the Association of Small Business Development Centers (ASBDC) that took place in Orlando on September 9-13, 2013. The event was held in the context of the project “Establishment of Small Business Development Centers (SBDCs) in CARICOM Member States” implemented by the Department of Economic and Social Development of the Organization of America States (OAS).

The Caribbean delegation included thirteen representatives from the five countries that are participating in the process of adapting de Small Business Development Centers (SBDCs) model -Barbados, Belize, Dominica, Jamaica, and St. Lucia- who also participated in meetings with representatives from Mexico and Central America to share their experiences in adapting the SBDC model to the realities of their own countries.

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Senior government officials will address compliance officers at the annual Money Laundering Reporting Officer (MLRO) Day, which takes place tomorrow at the British Colonial Hilton, Nassau. Minister of Financial Services Ryan Pinder will give the opening remarks at the event, which is organised by the Bahamas Association of Compliance Officers (BACO), while Minister of State in the Ministry of Finance Michael Halkitis will discuss the new VAT regime, ahead of its expected implementation next year.

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