The Bahamas Investor

Governor of the Central Bank of The Bahamas John Rolle yesterday outlined how the country’s banking sector has contracted due to global pressures and shared details of the Central Bank’s strategic plan to boost growth in the industry. Addressing the Association of International Banks & Trust Companies’ (AIBT) Regulators Forum, held at the Baha Mar conference centre, Rolle said around 4,000 people were currently employed in The Bahamas’ banking se......

...ment. It has been developed by the Economic Planning Unit (EPU) within the Office of the Prime Minister in collaboration with The Bahamas Chamber of Commerce and Employers Confederation (BCCEC ) and the University of The Bahamas. Speaking exclusively to The Bahamas Investor, the EPU’s director of economic development and planning Dr Nicola Virgill-Rolle (pictured, stock photo) called the plan “a reform agenda” and said it covers every aspect of Ba......

...y because of that exposure,” he said. “And when you think of what that one little trip did to turn our country around and put us on different footing that shows you the power of sports. That itself created a paradigm shift that we had not seen in a long period of time.” Rolle said he expects similar results this time around. The camp will run today through October 1, 2016. On Thursday, the team will hold a basketball clinic for 150 Bahamian studen......

...ing VAT?; What will be the VAT Rate? Educational forums are also scheduled for the rest of the week. Pictured: VAT Team Member Keith Worrell (left) addresses the forum at the Foster B. Pestaina Parish Hall, September 10. (BIS Photos/Vandyke Hepburn) Pictured: VAT Team Member and Financial Secretary John Rolle addresses the forum. (BIS Photos/Vandyke Hepburn) Pictured: VAT Education Team members met with Heads of Government Agencies, September 11,......

...FATCA, Governments can follow two reporting models. The Model 1 IGA allows for Foreign Financial Institutions (FFIs) to disclose the necessary information on their US clients to their government which, in turn, is then passed on by that government to the US Treasury. A Model 2 IGA requires FFIs to report directly to the US Treasury themselves. In July 2013, the government announced it would adopt a Model 1 IGA after consultation with an advisory w......

...ded representatives from the business community. The government has also consulted with the International Monetary Fund (IMF) and Inter-American Development Bank (IDB) . The final legislation is expected to be in place by the end of 2013 and Rolle said the period following its implementation in mid-2014 would be used to “fine tune” the new law. “We have a very ambitious timeline,” he said. “The dialogue will continue even beyond July 2014.” cmorri......

...nt. “All of us in this room have a shared interest in protecting the value of our investments and seeing a growing, diversified economy that produces jobs and improves the standard of living,” Rolle told participants. “The proper functioning of our organizations is integral to promoting the ideal environment for the capital formation necessary to sustain industry and economic growth. When the capital markets are stable and well-regulated and when,......

...clients–the next generation of existing clients. “The programme is in the form of one-week seminars,” explains Fellay. The sessions focus on financial and management skills. “If the last crisis has taught us anything, it has shown us the limitation and shortcomings of certain structured products. You have to understand their fundamentals fully.” Crédit Agricole private banking specialists advise their clients to be cautious in their investment st......

...putting both to work to complete more than 450 transactions (including platform investments and add-on acquisitions) on six continents. Today, First Reserve has the largest energy‑focused private equity investment team in the industry. Its portfolio of companies operate in approximately 50 countries and span the energy spectrum, including natural resources, equipment and services, midstream / downstream and infrastructure, among others. First Rese......

...ving profits or gains from the acquisition, holding management of disposal of investments. This type of fund does not fit the definition of a Professional Fund, a SMART Fund or a Recognized Foreign Fund. Equity interest Equity interest held only by investor No minimum investment by the investor. A share, trust unit or partnership interest that carries an entitlement to participate in the profits or gains of the issuer and is redeemable or subject......

...can offer a proven strategy on a tried and tested platform to a wider base of offshore and onshore investors through a product that has a potential to significantly enhance and diversify their portfolios.” Sterling Financial Group, Inc., a fully integrated and diversified real estate investment, development, management and services company that has an established track record of successes in the real estate industry. Over the past 40 years, Sterli......

...he private banking sector has become reputed. But, with the growing number of offshore and onshore IFCs available to high-net-worth individuals, the lead question The Bahamas Investor posed to a diverse group of financial professionals was whether The Bahamas has kept abreast of international advancements in the wealth management field and therefore maintained its ability to attract the attention of investors. The financial advisors respond with a......

...Bahamas received an overall rating of four out of five stars. What to look for For foreign investors with acquisition plans, the types of property that make good long-term investments are income producing ones and good vacant land in populated areas, according to Peter Dupuch, a Bahamasair pilot turned realtor. In the early 1990s while still a pilot, Dupuch realized he could be more successful on the ground investing in real estate than in the air......

Land development in a foreign country creates many challenges. For foreign investors in The Bahamas, it is no different. What do successful foreign developers do? How do they enter an environment such as The Bahamas and succeed? While some elements of development are undoubtedly universal, success in The Bahamas requires a recognition of its peculiarities. Idiosyncrasies such as a vast and widely dispersed geography, a strong centralized governme......

Minister of State for Grand Bahama in the Office of the Prime Minister Kwasi Thompson welcomed representatives of GIBC Digital to Grand Bahama May 3. GIBC provides digital solutions in automation, data intelligence, cyber and fraud, customer experience as well as regulation and compliance. The US company is looking to invest a minimum of $2.5 million this year to establish an office in Grand Bahama. “This government has been focused on making tec......