Bahamas Petroleum is pleased to announce that it has received notification from the Government of The Bahamas, via the Ministry of the Environment, that the statutory term for the five licences held by the Company have each been renewed. The new licence term is for a further three years with an obligation to commence the drilling of an exploration well by April 2015. The Company expects to meet this obligation, subject to financing via a farm-out agreement, with an exploration well in the southern licences anticipated in the second half of 2014.

…continue >

The Bahamas, in keeping with its long history of providing investment fund services, has taken measured steps over the past ten years to differentiate it from other jurisdictions. A key point of differentiation is the regulatory environment for investment funds which is robust though flexible. The Bahamas can accommodate any strategy and any investor, whether individual or institutional, and the creation of the SMART Fund is an example of the truly risked based framework for regulation that the Investment Funds Act, 2003 embraces.

…continue with our excerpt >

This is an excerpt from Hedgeweek as it appeared on July 22, 2013. For updates or to read the current version of this post in its entirety, please click here.

Go to the source of this post >

Acumatica, a leading global provider of cloud-based ERP solutions to small- and medium-sized companies, today announced publication of its latest case study featuring financial services firm Caystone Solutions’ 80% savings on deployment costs.

Caystone Solutions Ltd. (pronounced key-stone), a Nassau-Bahamas business services and family office firm launched last year, wanted a flexible and scalable solution with readily customizable reporting tools for the company’s clients.

…continue >

Minister of Tourism Obie Wilchcombe addresses the crowd in Bimini. Pictured to his left is Prime Minister Perry Christie. (Photo Harry Cutting/©Dupuch)

On board to celebrate the vessel’s first voyage were Prime Minister Perry Christie and Minister of Tourism Obie Wilchcombe (left) along with President of RAV Bahamas Gerardo Capo (background).

The $100 million cruise ship, formerly a Greek ferry plying the Mediterranean Sea, has been upgraded to include casinos, restaurants, bars and lounge areas.

Resorts World Bimini is offering twice-daily service between Port Miami and Bimini. The high speed vessel, capable of sailing at 30 knots, is the fastest cruise ship in The Americas.

…continue >

…continue >

The Resorts World Bimini SuperFast Ferry has been cleared by US Coast Guard officials to commence service between South Florida and Bimini. Service is set to begin on Saturday.
…continue >

…continue >

Prime Minister Perry Christie says that the final proposal for a major development on San Salvador is near completion.
…continue >

The US Inland Revenue Service (IRS) has announced that it has decided to delay the implementation of the Foreign Account Tax Compliance Act (FATCA) until July 2014.

FATCA was due to come into force January 1, 2014.

Read the IRS’s Notice 2013-43 regarding the delay here.

The website myoutislands.com promotes the Bahamas’ Family Islands. Watch a video about the islands of The Exumas here.
…continue >