The Bahamas Investor

...ker David Morley, president of Morley Real Estate and chairman of the BREA Compliance Committee, “regardless of whether you touch the money, the new regulations make all licensed brokers gatekeepers”. Morley told developers and brokers they had more than five years to prepare. “The legislation stems from guidelines set by the FATF (Financial Action Task Force) in 2012,” he said. “The Bahamas waited until 2018. What is being asked of us is not uniq......

...stability. ComFrame: Monica Mächler and Ramon Calderon discussed the IAIS Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame), covering the objective and a broad overview of ComFrame, the schedule of development, and the strategic direction on capital adequacy and other solvency-related items. International Standards of Actuarial Practice: Desmond Smith, president of the International Actuarial Association (......

...iations and advising on early resolution of matters that would otherwise become formal disputes. Ms. Cooper-Rousseau is founding Member of the Bahamas Middle Temple Society (BTMS). In 2012, she was designated by the Government of The Bahamas to serve on the Panels of Conciliators and Arbitrators of The International Centre for Settlement of Investment Disputes, (ICSID). Ms. Cooper-Rousseau’s practice in her law firm Rousseau & Cooper is strongly f......

...working on a major financial institution’s pension trust arrangements, or preparing a complex shareholders agreement for an international mining company involved in a local joint venture, Allen says she remained “intellectually curious” during her time at Graham Thompson. Perhaps, it’s that trait, coupled with a strong work ethic, which helped her to make partner in three years. “When I went there I said to the managing partner, Judith Whitehead,......

...sed international investment opportunities. With that comes a greater need for information exchange to ensure enhanced transparency and regulatory supervision in the international marketplace. As pressure mounts for The Bahamas to proffer information about financial activities, it has to consider what it wants in return. One way to secure meaningful benefits is in the careful negotiation of Tax Information Exchange Agreements (TIEAs). When it come......

...nt working alongside business to encourage their success, Bahamians and an ever-growing flock of visitors embracing locally brewed beers, and an export market within attainable reach, they both foresee their companies being able to expand under prudent management. As Sands says of his decision to enter the market now, “the timing is right on the money.”......

...se many great men and women who once upon a time rose up and struck a blow for freedom and for justice in our land. It was their combined blows that made Majority Rule a reality 46 years ago. We are the heirs to that legacy of struggle and we must never forget those who bequeathed it to us. Those like: – Pompey, the slave who bravely led a revolt against injustice in Exuma. – Black Dick, the slave, who was executed for staging a slave revolt in wh......

...n from the investment management function,” says Allen. “It gives trustees comfort that when they are acting under the directions of an investment manager, who is suitably qualified to make those decisions, there will not be liability for simply carrying out those directions.” Under the PB, the rule against perpetuities is abolished, paving the way for the creation of dynastic trusts and adding another product to The Bahamas’ range of estate plann......

...nd gains liquidity in terms of being able to sell portions of the holdings by simply telephoning the custodian. Banks also offer a number of structured products on gold, while commodity exchanges offer futures and options. Investors can also gain an exposure to movements in the gold price by investing in gold mining equities directly or in gold funds. Gold funds are likely to differ in their structure. It would be misleading to equate investment i......

...e of injury, even on relatively flat terrain such as The Bahamas. Glinton, for example, has had his fair share of strains, cuts and bruises. “One morning, while on a training ride, I crashed at 28mph,” he says. Although he did not break any bones, he was pretty badly grazed and required a tetanus shot and lots of antibiotics. Aside from bumps and bruises, the sport can deter novices due to the cost of equipment, bike maintenance, gear and repair.......

...te law expert in The Bahamas. Callenders & Co was also nominated as the “recommended firm” for real estate law in The Bahamas. “The CorpINTL accreditation process is by invitation only,” according to the nomination document sent to Roberts advising him he had been nominated by the international research arm of the organization and approved by a panel of judges for web-based referral listing. No fees are involved for the nomination and the backgrou......

...he Ritz Carlton. The acquisition is the second former Ritz Carlton-managed community purchased by Southworth. The first was Creighton Farms, a private club and residential community located in Northern Virginia, which Southworth acquired in 2009. Michael McCormick, spokesperson of the homeowner consortium said, “We have found the perfect partner in Southworth. Their track record of investing in and developing world-class communities offers us a re......

...on for guests staying at The Ocean Club, A Four Seasons Resort and the nearby Atlantis megaresort. For local executives and professionals who live in the exclusive community of Ocean Club Estates, they can enjoy a round of golf practically in their own backyard. Designed by Tom Weiskopf, this 18-hole, 72-par course stretches 7,100 yards across the Paradise Island peninsula, offering stunning views of the Atlantic and Nassau Harbour. It was recentl......

...ft at Odyssey Monday evening. Colours Junkanoo Group put on a colourful performance complete with a special banner with the words, “The Island of The Bahamas Welcomes Miami Heat.” (cont’d) Sixty-seven Miami HEAT players, coaches, support staff and executives are in town for the team’s training camp including centers Udonis Hadley and Hassan Whiteside, team owner Pat Riley and executive Alonzo Mourning. The team will conduct two-a-day practice sess......

...scuss insurance planning, including benefits such as asset protection, tax-free income accumulation & access, reduced tax reporting obligations, and hedge on investment performance. The Panelists Nicholas Leighton is the Group Managing Director of Atlas and is based in the Cayman Islands. He is responsible for the overall operation of the Atlas Group, including client relations, product development and regulatory compliance. Mr. Leighton is recogn......