The Bahamas Investor

...nternational’s Monarch of the Seas to conduct an initial safety evaluation for exercise Black Swan conducted in Freeport, Grand Bahama, April 2, 2013. (Photo courtesy of the US Coast Guard) Search and rescue personnel from the Bahamas Air Sea Rescue Association team up with the US Coast Guard Cutter Diamondback to ensure safety and security during exercise Black Swan conducted in Freeport, Grand Bahama, April 2, 2013. (Photo courtesy of the US Coa......

...a flexible and scalable solution with readily customizable reporting tools for the company’s clients. The company looked for features such as multiple currency support to accommodate its global clientele, as well as a flexible licensing policy that let the start-up add users at no additional cost, according to Desaree Romer, Caystone’s manager of client and corporate accounting. High on Romer’s wish list was also the ability to host the cloud-base......

...respect to transparency and the exchange of information for tax purposes. For example, The Bahamas passed the necessary legislation in 2015 to implement the US Foreign Account Tax Compliance Act (FATCA), recently passed the Automatic Exchange of Financial Account Information Act, 2016 and regulations to facilitate the implementation and enforcement of the Common Reporting Standard (CRS) and has entered into over 30 tax information exchange agreem......

...should preserve the future of the private banking industry in The Bahamas for years to come. While there will always be changes, we are confident in the ability of the public and private sectors of The Bahamas to meet such challenges. Bio Ivanhoe Sands Ivanhoe Sands is Managing Director at Credit Agricole Suisse (Bahamas) Ltd. A native of Abaco, he spent five years as a dealer and 25 years as dealer manager in Foreign Exchange, Interest Rate Mark......

...Three employees at the Nassau Airport Development Co (......

...vey results for the first quarter of 2017 reveal strong showings in key performance markers for Lynden Pindling International Airport (LPIA ). This comes as the airport acts on a strategy to meet short and long-term airlift goals. Cleanliness of airport terminals still tops the list of high scores for LPIA with 4.46 out of a possible 5-point scale followed closely by ease of customers finding their way through the facilities (4.40) and courtesy an......

...ations are common in civil law countries and therefore investors feel more comfortable dealing with a familiar structure, he adds. Likewise, trusts are a more familiar concept to European investors, observes Yule, and they are aware of the legal environment. Essentially, by creating private trust companies and foundations, The Bahamas is offering the best of both worlds to investors accustomed to different legal and cultural environments, financia......

...values [that] match very closely to Starbucks Seattle’s. They were looking for a company that could not only operate a store but who placed the same value on people and community. It was a good match.” From downtown revitalization projects to donations to local children’s charities, the Bahamian community benefits as John Bull grows. “As we prosper we are committed to sharing that with our community and the better we look as far as our bottom line......

...rance Institute of The Bahamas , who will also form part of the evaluation committee for selecting scholarship recipients. “Especially targeted are those persons who are interested in the captives sector and who have an intention to work in or to assist the industry,” Allen says. While there is no means test involved in consideration, senior executives will not be considered for the scholarships. Application forms can be collected from BFSB’s offi......

...ous about our commitment to the OECD and our global partners to exchange information by 2018 and we have elected to do so on a bilateral basis. There is much work to be done to meet the 2018 reporting deadline and to execute, navigate and negotiate using the bi-lateral approach that we have adopted. The bi-lateral as opposed to the multi-lateral approach was determined after much research, thoughtful consideration and consultation. It was favored......

...tain key information to the government such that it can inspect operations for compliance. BPC touts benefits The legal compendium was touted by the most likely immediate beneficiary of it, Bahamas Petroleum Co (BPC). The company, registered in the Isle of Man and listed on the London Stock Exchange, has four licenses to explore in the southern Bahamas that run until the second quarter of 2018, including a key obligation to begin an initial explor......

...rations and IT teams have worked closely with manufacturer BorderXpress to test the machines for additional users. We anticipate an immediate positive impact on our operations, particularly during this busy travel season. Bahamians meeting the requirements will now have the added convenience of processing through US Customs within minutes.” Up to this point, only US and Canadian passport holders, US Lawful Permanent Residents and travellers with a......

...t countries. The merger will also strengthen the IDB’s balance sheet, as recommended by the G-20, by optimizing the Bank’s capital base. The transfer of the FSO’s net assets, valued at nearly $5.1 billion as of December 31 of 2015, would increase the OC’s equity by about 20 percent. Grant Facility Transfers for Haiti. Governors approved a modification to the mechanism for transferring funds from the IDB’s Ordinary Capital to its Grant Facility, wh......

...irling Moss, honorary patron of Bahamas Speed Week. Other officials, Baha Mar executives and the media followed in other participating cars. In car No. 1–legendary racing car driver Sir Stirling Moss, honorary patron for Speed Week, with Colin Higgs, permanent secretary, Ministry of Public Works, in the passenger seat. In car No. 2–UK driver David Cottingham with Baha Mar executive Phil Robinson. (Photo by Ana Wassitsch)......

...adequate know-your-customer (KYC) policies and procedures,” says Craigg. “For example, licensees of the Central Bank are required to apply their customer due diligence procedures on a risk sensitive basis,”?she explains. “This means that they should seek to have sufficient information about their clients to enable the financial institution to gauge how risky the client’s business is.” In this regard, Craigg says, enquiries should cover whether th......