The Bahamas Investor

...“Cooperation with other securities regulators remains a strategic priority for the Commission. It is a critical aspect of good securities regulation, particularly for international financial centres, and the Commission intends to continue to demonstrate regional leadership in this area.” AIFMD MoUs allow Bahamas based alternative investment fund managers (AIFMs) to market or to perform fund management activities for alternative investment funds (A......

...the Grand Bahama Technology Steering Committee. This would be particularly for companies seeking to relocate their development teams to the Bahamas to retain specialized talent. The committee proposes that through the imminent population growth as a result of this program Grand Bahama will see significant economic impact in the areas of housing, national insurance, food, entertainment, education, healthcare and government taxes among other industr......

...ld’s premier centres for international services.” “Underlying all of our efforts is a commitment to quality. We aim to attract the top-end of the market in every field we operate. When we set out to attract ships to our fleet, we look for the quality owner with ships of which we can be proud.” Speaking to the conference’s theme of training, the Prime Minister suggested that through The Bahamas Maritime Authority and the Bahamas Ship-owners Associa......

...t and brightest in Grand Bahama. Young people everywhere are more and more comfortable with technology. We have to make sure that’s the case in The Bahamas and that’s why education is so important. Bahamians, and those in Grand Bahama in particular, are really looking for opportunities to participate in the digital economy.” The third phase of GIBC Digital’s long- term plan for Grand Bahama involves establishing a state-of- the-art data centre. Wo......

...ons over interactions between the IRS and Bahamian financial institutions,” Minister Pinder said. “Model 1 further ensures that the directives for FATCA compliance is based on Bahamian implementing law.”......

...ovision of a more structured ferry service that affords a greater level of comfort and convenience to its passengers,”?said Grant at the ferry terminal contract signing in February 2009. Dock work in Eleuthera is costing the government just under $3.6 million. Of that amount, $3.2 million is earmarked for the reconstruction of North Eleuthera’s Three Island Dock. The Caribbean Development Bank is financing the project. The reconstruction of a frei......

...nal investments throughout The Bahamas, which will partner with Bahamians. By entering the Houston market, we can fly from that city and bring international passengers as far afield as China,” the Prime Minister added. The new jet also has a flying range of over five hours, fully loaded. This places the entire United States, with the exception of Alaska and Hawaii, within non-stop service of Nassau. “This increased range opens new doors of opportu......

...ld completely overhaul the country’s main airport. The management contract for all the airport’s commercial enterprises introduced a new paradigm of airport operations in the nation. Its portfolio included the full management of all terminal buildings, parking facilities and runways. From the onset, NAD faced a mammoth task, to transform run-down terminals into what travellers would expect of a leading destination, all without shutting down the ai......

...ancial institutions and executing the actual exchange of tax information. “For the Competent Authority to transmit data to the reportable jurisdictions, the Competent Authority’s Office must, first of all, receive the data,” said Minister of State for Finance Michael Halkitis, who has oversight for that unit. “Adequate enforcement mechanisms, such as fines and penalties, will be implemented to deter and penalize reporting financial institutions an......

...business,” says Klonaris. “That is the big attraction. It is not too late for us to realize the full potential of that original vision. “We have so much to offer, but we are not fully cognizant of how much.” Klonaris, who specializes in corporate and commercial law, believes that the government could do more to attract skilled legal professionals into the sector, especially in terms of administration. “We need transparency in our immigration proc......

...o said that his Ministry will aggressively pursue internship opportunities for Bahamian students, in addition to international exchanges for local professionals. Meantime, the Ministry of Education and the Ministry of Financial Services have agreed to partner in a comprehensive skills gap analysis of Bahamians in the financial services industry. The intent is to identify the areas where there exists a gap in local talent, and then in partnership w......

...rrective work would be costly. The Prime Minister said, “My Office is therefore entering into discussions with Sandals and surrounding property owners on a cooperative effort to successfully address this situation.” Over the last 10 months, Sandals has been doing something unique as far as major resorts in The Bahamas is concerned, in expanding and bringing more of their offshore specialized corporate marketing, public relations, sales, accounting......

...namely adjustments in the application process for short-term work permits for persons entering The Bahamas for the purpose of business for a period of less than 21 days. “We have also revised our policy on permanent residency on the purchase of a residence. With effect from July 1, 2018, the threshold will be increased to $750,000 instead of the $500,000 threshold that has been in place for numerous years,” he said. Other initiatives include huma......

...proached URCA [the Utilities Regulation and Competition Authority] … and other companies have come looking around the Bahamas in preparation for liberaliation.’......

...amas is poised for sustained economic growth.” He said the year would see “comprehensive reform” in various areas including government revenue collection, the energy sector and government procurement. He also highlighted the economic impact of private sector developments coming onstream in 2014, such as the $3.5-billion Baha Mar mega-resort, the next phase of Albany and $14 million worth of upgrades to facilities at Atlantis, Paradise Island. The......