The Bahamas Investor

...it held at Bimini Bay last weekend. The summit brought together around 140 financial services practitioners to discuss how the jurisdiction might position itself to “stay head of the game.” It included a focus on staying ahead of initiatives of impact to the industry, as well as a focus on collaborating with government to streamline business processes. Allen said the BFSB has revived its work on tax reform in The Bahamas. A sub group of BFSB’s Int......

...he Bahamas Investor Magazine. “We want to introduce shipowners to Bahamian financial services and the skilled labour pool available in The Bahamas. We are looking beyond just being a registrant for shipowners and their ships, but also to encourage them to be part of The Bahamas,” says Bahamas Maritime Authority chairman Anthony Kikivarakis. Other stories in this issue include a look at banking, wealth management and estate planning at CIBC FirstCa......

...nce as being key drivers of LATAM business to The Bahamas. The Minister of Financial Services Hope Strachan in her first address to an international audience as Minister of Financial Services, highlighted the government’s commitment to the financial services sector and her own Ministry’s active role in ensuring that the policy framework supports its further growth and expansion. “While many countries in Latin America have achieved greater levels o......

...consider establishing subsidiary operations in the country. Commitment to financial services EPR is a component of one of three significant assets that, if properly managed and promoted, enables The Bahamas to move forward with confidence, and strengthens its financial services platform for the facilitation of private wealth management on a global basis. EPR reflects the history of outstanding commitment to the financial services industry. This c......

...Schedule. The Bahamas exempted telecommunications and real estate. On the financial services front, the EPA states that countries “may adopt or maintain measures for prudential reasons that include protection of investors, depositors or policy holders or measures that will ensure the integrity and stability of their financial systems.” To ensure fairness in the marketplace, the EPA commits countries to the establishment of a competition commissio......

...ad thrust of our growth strategy includes diversifying the key tourism and financial services industries, as well as the overall economy, partly through the promotion of innovation in high value-added products.” “The consultation process is now underway for the creation of a Small and Medium Sized Enterprise Development Act. We want to strengthen the environment for business development and expansion through a variety of initiatives that will impr......

...payments. Products and professional services supplied in the international financial services sector are zero rated. VAT is not charged on products and services provided to non-resident clientele. Also, as of January 1, 2015, the 7.5 per cent VAT has replaced the 10 per cent hotel occupancy tax. Q: How is it being enforced? A: The government has promised heightened enforcement measures for the implementation of value added tax. VAT was brought abo......

...ommunications has established itself as the leader in hospitality internet services in the Caribbean by providing high quality, high speed Wi-Fi to its clients. The company is also known for its tech support services, and already has an impressive portfolio of big names in the hotel industry as their clients. Jackson Weech the General Manager of Breezes Bahamas sounded excited about the hotel’s partnership with Copia, “We certainly find Copia to b......

...their survival, I think you will see an improvement in the way we deliver services and the way foreign direct investors access services in The Bahamas. You’ll have improvements in the investment climate.” According to Howell, a formal merger, with all of the legal, political and administrative requirements that go with it, would set a precedent for the region, giving The Bahamas the edge. Says Nutt: “We’re taking what’s in existence, putting it t......

...iner Services, Latin America Liner Services, Logistics Services, Petroleum Services, Marine Services and Technical Services. Offered within these operating lines of business are: liner container shipping, logistics, contract towing and transportation; ship assist and escort; energy support; salvage and emergency response through its TITAN Salvage subsidiary; vessel management; vessel construction and naval architecture through its Jensen Maritime......

...racy and a thriving economy based on its two major industries: tourism and financial services. “Mr Speaker, my extraction from this article is that we are still doing many of the same things we did way back in 1972. And our current path is fundamentally grounded in a strategy that was formulated in 1972 with some exceptions. There is a strong suggestion that diversification is a difficult proposition, particularly in agriculture,” said State Minis......

..., formerly the Farm Road Constituency. Christie previously served as Prime Minister and Minister of Finance 2002-2007. The first ministerial appointments will be announced May 9, with the Cabinet fully assembled by May 11, the Prime Minister said. “My transition team headed by the former Attorney General Sean McWeeney, QC, is already hard at work and I propose to appoint Wendell Major CMG, later today, as the new Acting Cabinet Secretary,” he said......

...hompson delivers the keynote speech February 21. (BIS Photo/Andrew Miller) Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson said yesterday that Grand Bahama is entering a critical period and local businesses should seize the opportunities presented. He made the comments during at the official opening of the Grand Bahama Business Outlook. The 21st annual Grand Bahama Business Outlook 2019 is being held under the......

...ut getting involved in the tourist business, offering related products and services to increase tourism spend and help to distribute the wealth. “This initiative speaks to the complexity of tourism [in] that while we encourage investments, we are also creating linkages to other economic sectors that will provide greater economic returns for all.” Minister D’Aguilar said statistics show that 6.3 million foreign visitors travel to The Bahamas on an......

...e done, said Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson on the first anniversary of the current Dr Hubert Minnis administration. Minister Thompson said: “We have made significant progress, however, there is a lot more work to be done. I believe that throughout this year, there has been a lot of progress on a number of fronts and in a number of areas, however, there is much more work to be done in those ar......