The Bahamas Investor

...atives. She holds various awards from the Bahamas Financial Services Board for services to the financial industry and speaks regularly at financial services conferences worldwide. Currently, Mrs. Beidler-D’Aguilar serves as a non-executive member of the Board of Directors of Clairmont Trust Company Limited. She is also actively involved in scholarship programs that assist talented Bahamian students to get the best possible post-secondary education......

...f the key elements that make The Bahamas a truly competitive international financial services hub: • There are around 250 banks and trust companies licensed in The Bahamas, of which 125 are subsidiaries of institutions originating from 28 countries, including Switzerland, Canada and the United States • These institutions have combined balance sheet assets of more than $300 billion and $1 trillion in assets under administration, according to The Ce......

...Cs) may be established in The Bahamas is expected to enhance the country’s financial services offerings to wealthy families. This rounds out a series of steps undertaken to respond, in a comprehensive and competitive manner, to the needs of the family in recent years. PTC legislation, at the time of preparing this article, had already had its third reading and was passed in the lower house of Parliament. When it progresses through the Senate and b......

...o what was initially proposed. Specifically, no goods will be exempted. As for services, the list of exemptions has been tightened to include only the following: • Financial services, i.e. credit and deposit/savings products. This covers all forms of lending and savings products issued by banks, insurance companies and other financial institutions. For insurance, the products affected are, in particular, life policies and annuities. In order to gi......

...id was significant for a number of reasons. “Considering the importance of financial services to The Bahamas’ economic well-being, global standards setters, potential investors, as well as those that would seek to abuse our financial system must know of The Bahamas’ robust commitment to global anti-money laundering and counter terrorism and proliferation financing standards,” DPM Turnquest said. “Hosting this event in The Bahamas not only allows u......

...certain necessary services,” the Prime Minister said. The agreement calls for Tug Services to provide the tug boats on a daily timed charter. It also includes management services, crew, firefighting, oil spill recovery, salvage capabilities and vessel maintenance for tug services at Nassau Harbour and Clifton Pier. The government is reviewing other possible public/private partnerships in a number of areas in the maritime and transport sectors. “T......

...as been cruising to The Bahamas for the past 12 years, beginning in Nassau for seven years before moving to Grand Bahama. The service provided, he said, is significant because even though the ship is not the largest, bringing visitors to the island every other day will have a significant impact on tourism. With the introduction of the new ship next year, there will be a ship in Grand Bahama every day. Three thousand Bahamians and residents travele......

...that without a doubt.” As the Minister of State in the Office of the Prime Minister for Grand Bahama, Thompson threw his full support behind ADR Bahamas and the role they play on the island of Grand Bahama, which, he pointed out, is a commitment to the resolution of disputes and issues by means other than litigation. He noted that there are always individuals seeking confidential, quick and convenient settlements. “As we all know sometimes waiting......

...ters, including transportation, safety and security, and issues related to financial services. Prime Minister Minnis will attend day one of the inter-sessional meeting February 26, 2019. The Prime Minister will also take part in a bilateral meeting with the president of the Republic of Estonia Kersti Kaljulaid. Minister Henfield will represent Prime Minister Minnis on day two of the inter-sessional meeting, along with High Commissioner Rahming and......

...ntly underway in Grand Bahama that will provide even greater opportunities for local entrepreneurs. Minister Thompson outlined the various other projects that are in the pipeline of development, which will all help to revive the economy of Grand Bahama: Seaward Fishing Village in Deadman’s Reef; the expansion of the Blue Marlin Cove and the much anticipated $2.8 billion Grand Palm Beach Acquisitions Ltd Resort, which was once known as the Ginn pro......

...n The Bahamas, particularly Grand Bahama. “This will foster an environment for foreign investors, with whom we collaborate to stimulate the economy and create jobs for Bahamians,” added Minister Thompson. “My government is actively working to establish the Grand Bahama Investment Unit, which will mirror The Bahamas Investment Authority, located in the capital. With this unit, we will be able to quickly see investment requests for Grand Bahama thro......

...Sports and Culture Dr Daniel Johnson; Minister of Tourism Obie Wilchcombe; Minister of State for Investments Khaalis Rolle; director of investments in the Office of the Prime Minister Candia Ferguson; and senior policy advisor Sir Baltron Bethel. The group got a first-hand glimpse of the many amenities that will be available when the resort opens in late spring of 2015, including the 100,000 sq ft casino, beach sanctuary and Jack Nicklaus Signatur......

...t holder, born in the US or is a permanent resident, among other criteria. Ryan Pinder, member of Parliament and Co-chair of the Committee on Foreign Relations and Foreign Trade, highlighted this concern in his remarks during the event. “It will potentially be very difficult to identify some US persons, especially dual passport holders, who can easily open financial accounts with non-US passports,” he said. “The US government is putting this burde......

...trators and independent financial advisors. Minister of Financial Services Ryan Pinder gave the opening address, outlining government plans to preserve The Bahamas’s standing as a well regulated, but innovative international financial centre. The event was sponsored by the Ministry of Financial Services. BISBA president Brian Jones of UBS (Bahamas) Ltd moderated a panel discussion that included Linda D’Aguilar, partner, Graham Thompson & Co, and A......

...n requirements. “AIFMD clearly is a very intense regime, something that seems on the face of it, to be put together by the European Union without any cognizant of ease of doing business,” said Ryan Pinder, Minister of Financial Services. “We are not alone as a jurisdiction in trying to work our way through it and understand it more.” tblair@dupuch.com......