The Bahamas Investor

...economies. In addition to Bahamian ambassadors such as the BFSB, a network of foreign professionals is needed to sensitize its clients to these opportunities. If not, the idea will never be considered and Canadians will simply repatriate their funds back to Canada. When I began assisting Canadian taxpayers through the voluntary disclosure process, the foreign banks did not focus on client retention and most Canadians repatriated their funds back t......

...as permanent representative on the board, as will Viana Gardiner, Director of Investments within the Ministry of Financial Services, as the government representative. At the AGM held on September 24, chairman Paul Winder addressed the need for BFSB to continue its agenda of change. He referenced the many regulatory developments of recent times, noting that there is no question that “smart” regulation brings many benefits. He stressed, however, the......

...has made a commitment to Bahamian entrepreneurial development through the offer of financing of construction and equipment in respect of restaurants, retail shops, water sports, entertainment and attractions to be operated by Bahamians. MSC will also seek to maximize employment for Bahamians in the construction and management of this high-end development and Ocean Cay, once completed, will have a built environment and commercial activity to suppo......

...f the investment approximated the fees received for issuing the license to the entity. Expectations are that the Government will divest itself of this ownership in the new company before the end of the fiscal period. For full text reading, please download the attached document. Read/Download Download MEFD October 2016......

...oard of Governors, the Bank’s top decision-making body. Most Governors are ministers of finance or the economy, or central bank presidents. The IDB Group is made up of the Inter-American Development Bank (IDB), the Inter-American Investment Corporation (IIC) and the Multilateral Investment Fund (MIF). All of the IDB’s private sector operations were recently consolidated into the IIC. The MIF provides donations and resources to foster innovative sm......

...ernment services and infrastructure costs in Freeport, or some alternative form of contribution from the GBPA and its licensees to meet such costs. In parallel to recommending changes to the current ownership and governance on the island, the Committee also recommends that certain other changes be made to increase the competitiveness of Grand Bahama as a location for global investment. Those changes are as follows: 1. Create a one-stop-shop to man......

...hamas, there is the Bahamas Investment Authority (BIA), headed by director of investments Joy Jibrilu. As the technical and administrative head of BIA, it is Jibrilu’s job to facilitate investment projects–from start to finish. It is quite a task. “We are described as a one-stop shop for investment and it is our responsibility to see the projects through to the end, and, in some cases, beyond,” she says. A solicitor by trade and fluent in French,......

...ducts and professional services that are considered exports in the context of the offshore or international sector.” Income producing homes and condos may qualify as commercial investments For local real estate services, the VAT Department explained that even when these are supplied to non-residents, VAT would always apply as the benefit of the services are considered to be received in The Bahamas. However, some non-residents have permission to ho......

...z leave their management positions with the Company. A new Chief Executive Officer of Ultrapetrol is expected to be appointed effective as of the closing of the transaction. The Company also announced today that it has appointed Rodrigo Lowndes to its board of directors, effective immediately, following the resignation of Fernando Barros. Mr. Lowndes, a Brazilian national, is a partner with Southern Cross in the Sao Paolo office and has been with......

...The Bahamas provides a key platform in its well-regulated investment funds offering for facilitating this kind of investment.” There are the obvious benefits, such as proximity, a stable regulatory environment and property investment to name but a few, but The Bahamas has also been extremely nimble in creating products tailor-made to the Latin American markets. The Bahamas’ real strength is its legislative framework, which allows the formation of......

...ng indirectly for 2 per cent of the GDP force and 3 per cent of the labour force. Investments in physical plant, skills training and accident prevention, executives said, would continue to be made over the next 3-5 years as ambitious and major revitalization efforts transform its 51 stores. “At Commonwealth Brewery, we believe it is important to create a balance between people, profit and planet and that long-term growth comes in a responsible way......

...ive director of Julius Baer Bank & Trust (Bahamas) Ltd notes that in terms of offshore banking, “on the western side of the globe, there is no other option. The Bahamas is quite close to the United States and it’s not lost in the middle of the Caribbean.” Essential legislation For private banks and other international financial institutions that call The Bahamas a “home away from home”, geography is not the only selling point. Legislation governin......

...ittering image, much in line with its very appealing status of tax shelter for foreign investors. Tucked in along the West Nassau coastline are the Caves Heights Oceanfront Condominiums, a private, gated community of exceptional two, three, and four bedroom penthouse condos. Each property has been carefully planned to maximize views, along with spacious balconies and open floor plans, offering a seamless indoor-outdoor living experience—precisely......

...gic decisions about where I want to invest, like areas of the world, types of investments, stocks or bonds—then I also make strategic decisions about the types of companies I want to work with. I’ve got investment accounts with several people, including three Bahamian outfits.” For Spencer and his family, The Bahamas was more than a second residence to visit for the odd vacation. It became home. And being the personable fellow that he is, Spencer......

...hore trusts and partnerships, are commonly used for this purpose. The type of offshore holding structure selected is highly contingent upon the individual’s circumstances. Factors include the type of asset (for example, with real estate, it makes a difference whether the property is income producing or not), how long an asset will be held, who will benefit from the asset now and in the future, privacy considerations and possible tax implications a......