The Bahamas Investor

...meetings further exemptions were obtained under Model 1 for Private Trust Companies and certain Master Feeder Fund Structures under the “sponsored deemed compliant” categories”. Minister Pinder said based on his Ministry’s “careful” review of the FATCA regulations, the Model Intergovernmental Agreements, consultations with the US Treasury Department and the IRS and consultations with industry, the government of The Bahamas decided that the jurisd......

...on to invest in improvements and expansion, this terminal is expected to become profitable within the first couple of years.” All this activity, of course, bodes well for the local economy. “This significant capital demonstrates First Reserve’s long-term commitment to the employees and will serve as a catalyst for increased development and production in The Bahamas,” concludes Sikorski. Given the current instability of the global economy, such new......

...numbers indicate a strong ICT-trained Bahamian foundation for potential incoming tech companies.” The YMCA ICT programme in Grand Bahama, also designed for high school students, trains in Python application, computer coding, robotics, computer technology, as well as mathematics, physics and related skills. It is hoped that 70 students will graduate from the programme this year. Minister Thompson added: “The Bahamas’ approved National Budget opene......

...ally beneficial for our Family Islands,” said Captain Rolle. Pictured: Some 300 private pilots attended seminars conducted by The Bahamas MOTA team on flying to The Bahamas. (Photo courtesy of the USDA, IFP and MOTA) “We have received an unprecedented number of enquiries and expressions of interest from visitors and other private pilots visiting our booth,” he added. In 2018, The Bahamas reached a historic milestone in general aviation, and welcom......

...community. “When an investor wants to put money in a place, they look for communities that look after themselves,” he says. “The community on Elbow Cay looks after its environment, its public places and its infrastructure. They take very good care of their island.” Amenities and activities are also a draw for buyers, and Elbow Cay delivers on both. Lightbourn predicts that the market will continue to prosper through 2019 and beyond because it has......

...ams of business ownership, as well as aiding existing businesses to remain competitive in a complex, ever-changing national, regional and global marketplace. Davinia Blair, who was appointed executive director of the SBDC in June last year, offers some insight into the aims of the initiative and the government’s vision for the future of Bahamian businesses. Q:What was the thinking behind the creation of the SBDC? A:The government has been charged......

...commercial opportunities and zoned appropriately to prevent encroachment. Commercial opportunity Commercial expansion remains a key component of our revenue strategy. We signed a lease for a new Master Duty Free Concessionaire with Duty Free Caribbean (Bahamas) Ltd–a company affiliated with Dufry, the world’s largest duty free retailer. Construction is slated for completion in July this year. The deal includes three stores; a walkthrough duty-fre......

...ruary 2018 and headquartered at Bay Street Marina, the Bahamian registered company comprises a fleet of 10 yachts, ranging in size from 30 to 160 ft with crews of two for the smaller vessels and up to 11 on the larger yachts. “We very much specialize in an all-inclusive luxurious day on the water,” says Lubbe. “We understand that many of our guests are not here for weeks on end and have the need for instant gratification. We pride ourselves in a l......

...rade is interested in seeing one of the region’s newest and largest resort complexes and supporting The Bahamas.” She also noted that attendees will have the opportunity to experience The Bahamas Family Islands before and after the conference thanks to a special initiative of The Bahamas Out Islands Promotion Board and the Ministry of Tourism and Aviation. Bahamas Minister of Tourism Dionisio D’Aguilar encouraged attendees to register: “Prior to D......

...suite of resources necessary to confront natural disasters like Hurricane Dorian.” Minnis further stated: “The very survival of our homelands, our cultures and our people are at stake. Our existence as sovereign, independent nations is at stake from various types of natural disasters, which may compound each other.” Monday’s all-day pledge conference, held at the Baha Mar Convention Centre in Nassau, brought together more than 300 persons who reaf......

...omestic/International Departures terminal to bolster the airport’s overall commercial portfolio. This year, NAD will issue an expression of interest for an additional Fixed-Based Operator (FBO) at LPIA. This move is in direct correlation to the steady increase in traffic in the FBO sector and the demand NAD has experienced for airside land. NAD’s Commercial Department will also place greater focus on non-aeronautical revenue generation over the ne......

...“The biggest opportunities banks have is if they have the capabilities to combine the services of investment banking and wealth management. The combination of services is imperative, as many of these second generation owners want to launch their family-owned companies through IPOs (initial public offerings) or gain access to liquidity from the capital markets to grow their businesses. These monies have to be managed. Companies that can look after......

...t, a marina, golf course, clubhouse, restaurants, a retail and residential component, swimming pools, waterpark, utility services, resort accommodations and related amenities. “The fund will assist Bahamian entrepreneurs in training and business development opportunities and will provide direct financial subsidies to support the businesses during the initial operational phase of the Project,” said Prime Minister Dr Hubert Minnis at the signing cer......

...that all businesses which qualify have the support they need to protect income and their workforce. The SBDC has also been one of the lead advocates for the deferral of existing loan payments by commercial banks for entrepreneurs who may already have loans with lending institutions. “I am pleased to advise that the Bahamas Development Bank, the Royal Bank of Canada (RBC ), CIBC First Caribbean and Scotiabank have publicly pledged to defer loan pa......

...aid Chen who added that the team had been hosting town halls, seminars and community meetings to raise awareness of the project and what exactly it entails. He noted that these efforts were especially important given The Bahamas’ reliance on fiat currency, saying: “It is a challenge because we have been cash heavy for so long and it is tough to break old habits. Education is certainly important.” According to Chen, the Sand Dollar will spur innova......