The Bahamas Investor

...planned to discuss ways and means of assisting young Bahamians in training and education. The consul general and Allen are expected to travel to Nassau on a fact-finding mission and to meet with local educators. This effort is one of several initiatives Rolle is to spearhead during his first year in office, with one objective being to formally train 8,000 Bahamians in preparation for The Bahamas’ expanding hospitality industry.......

...ees to set up a company that could also be used as a corporate director or officer,” Rolle explains. “For example, if a client wanted to set up an IBC [International Business Company] or some other type of company, rather than the bank using its own natural directors to serve as directors, it can use these corporate vehicles. It made it more efficient in the way companies were conducting business for their client.” As Rolle points out, when a bank......

...ording to Natasha Rolle-Bastien, past president of the Bahamas Association of Compliance Officers (BACO). “Compliance seeks to ensure an organization remains in sync with what the law says we have to do. It seeks to maintain the minimum standards, but a culture of compliance is not enough,” she told members of the financial community at a Bahamas Institute of Financial Services (BIFS) seminar held in Nassau recently. “Right and wrong should not be......

...ector, senior barrister Jonathan Dingle, The Bahamas is well positioned to offer offshore mediation to countries such as the United States, or even Cuba. “It’s a neutral place where people can come and mediate their solutions. It’s geographically convenient for major trade centres,” says Dingle, who over the last couple of years has worked in the Cayman Islands, the US, Canada, and the British Virgin Islands. As he explains, the mediation process......

...new way to operate. We have seen increased focus on international requests for information with respect to insider trading, anti-money laundering, counter-terrorism financing. We will probably continue to see more focus on that. Legislatively, we are prepared for that. If you ask our licensees they may say we are stricter than some large, developed countries, but there are always areas where we can do even better. Q: What kind of challenges does T......

...ominium (in the investment funds context) was a ‘pooling of funds intended for investments in a diversified portfolio composed of financial assets and other instruments available on the financial market.’ Formation and Governance The Bahamas investment condominium continues The Bahamas’ commitment to bringing to market client responsive legislation and will fulfill the following aims: Provide an alternative legal structure for investment funds tha......

...management and investment services in 35 countries and more than 100 markets. As of March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NY......

...tax information exchange agreement (TIEA) with Canada that ensures that profits of Canadian companies domiciled in The Bahamas are not taxed upon repatriation. Several Canadian companies are now taking advantage of The Bahamas’ favourable investment climate. According to the Bahamas Investment Authority, since 2008, 11 Canadian-owned projects were granted approvals. The bulk of these projects are residential developments throughout the Family Isl......

...to expand outside their national boundaries is potentially very good news for offshore financial centres such as The Bahamas. “The opportunities for tax-planning increase whenever you have an international family—that is, people in different locations or businesses in different locations,” says Wendy Warren, CEO of the Bahamas Financial Services Board. “If you’re purely doing business in one country, there are few chances of going outside that co......

...founder at VCM, adds: “The hotels have a proven track record, enjoy plenty of room for optimization and provide stable returns, mitigating market risk though long-term contracts with railway companies needing lodging for their workers. Bottom line is a low volatile investment, with low correlation to traditional asset classes generating good risk-adjusted returns.” VCM is an investment firm founded in 2010 that focuses on alternative investments.......

...tempting the fates. However, in the past few years, taxation and the size of estates has required people to give this much more serious consideration. Also, many of the Asian countries have a civil law system and others use Sharia for regulation of family matters. It is important to pay attention to detail.” Jestin at Scotiabank agrees. “You have to research and find a niche, because there are so many countries and they are so different that you......

...Exchange trading will have no impact on the maturing value of a security (for investments that are held to maturity). Regardless of the market value, interest and principal payments will not change from the terms set out in the respective Initial Public Offerings for all investors. Investors participating in new issuances of government securities in excess of $100,000 will need to utilize a broker to purchase these securities. Those investors wit......

...vestment Corporation, IDB President Luis Alberto Moreno said: “The backlog of reforms is daunting, and the short-term challenges are great, but this is not the time to hesitate. It is time to seize the initiative.” The Boards of Governors are the top policymaking bodies of the IDB and the IIC, which last year approved a total of $12.2 billion in loans and grants for economic, social and institutional development projects. Most governors are financ......

...ry community minded.” UHNWIs are also keen to get involved to reward the efforts of the young people who recognized that there was a need and took the initiative in forming the charity, says Rodgers. “We were founded, and are still fuelled by, young individuals. Often the stereotype is that people of my generation are not interested in making a difference. It really epitomizes that process of people coming together and sharing a vision.” Corporate......

...the details of the various components of our fiscal reform strategy in the form of a Medium-Term Fiscal Consolidation Plan through 2016/17. The plan consists of four key parts: growing the economy; restraining expenditure; enhancing revenue administration; and securing new sources of revenue. Through this plan, and in combination with our actions to strengthen economic growth, we are fundamentally and, in a balanced way, reforming the structure of......