The Bahamas Investor

...formed solidly throughout 2010. By the end of 2010, HNWIs held 33 per cent of all their investments in equities, up from 29 per cent in 2009. The US is still home to the single largest high-net-worth segment in the world, with 3.1 million HNWIs accounting for 28.6 per cent of the global HNWI population. The Asia-Pacific region posted the strongest regional rate of HNWI population growth in 2010 and has now surpassed Europe in terms of HNWI populat......

...a low default risk. Moody’s described The Bahamas’ 2006-07 fiscal year performance for the first half of 2007 as “on track,” with revenues slightly ahead of projections and spending on target. Fifth freest economy In January, The Bahamas was also ranked the fifth freest economy in the western hemisphere and “most prosperous in the Caribbean,” scoring higher than both the regional and world averages. The Index of Economic Freedom, published by US......

...sitive stimulus for Latin American business interest in The Bahamas. “Ease of access is an important consideration for any business looking to expand beyond its home borders,” says Warren. “Copa’s service will make it much easier for the Latin American market to do business in The Bahamas.” Participation in BIS follows up on a “Fall 2010 Bahamas Landfall: Destination Brasil” event coordinated by BFSB, and it is likely a second Bahamas Landfall eve......

...s a professional trader and portfolio manager with over 13 years of international and domestic investment training and experience. He is a former president of the CFA Society of The Bahamas.......

...ential source of investment returns Replacing the fixed income and cash weightings, many firms are increasing their exposure to alternative investments. For more information download a summary PDF here or visit scorpiopartnership.com......

...ne 14, 2012, has announced a business plan for 2012-2016 of $236.5 billion of investments. We further believe that the North Sea market should follow as the natural balancing out of the market occurs in the forthcoming years. Ultrapetrol’s fleet in the Offshore Supply Business has the advantage of being very modern and technologically capable of supporting deep sea oil drilling in both the Brazilian and North Sea markets. Ocean The Ocean Business......

...e Agency. Sokoloff believes that for investment to grow further, the focus of efforts should be on alternative energy and the potential that has for improving the economic environment. “The Bahamas has a power system that is essentially based on diesel generators, which were probably a good choice when they were built, but now they can be costly, unreliable and polluting,” he says. “This can present a challenge to US investors, because energy cost......

...project that would suit its luxury branding. That opportunity came in the form of Baha Mar (see page 66). The mega-resort on New Providence is to comprise six hotels with approximately 3,500 rooms and condominiums, and is projected to generate almost $15 billion in gross domestic product. It will also lessen the employment pressure, providing more than 8,100 direct and indirect jobs, totalling in excess of $7 billion in wages over a 20-year perio......

...tax, or inheritance tax. “We’ve seen a significant increase in the number of foreign investors expressing interest in properties priced above $500,000 USD,” said Caves Heights, VP/Sales & Marketing Gustaf Hernqvist. “The demand for these condos is extremely high now there is an increased awareness of the strong investment potential in the Bahamas, with the remaining available units now becoming an exclusive commodity.” Residency rules in The Baha......

...ondly, it underlines the importance of the meeting. In an area where a lot of information is sent electronically, there is still a lot of information that clients–whether traditional or tech-savvy–are willing to show only when they are face to face. “It is also important that we get to talk in a place where the client is physically removed from his surroundings and not distracted by his daily routine,” continues Räber. “If it is not their usual en......

...certainty in regulatory and new technologies is a road block to attracting investments for development. “The biggest challenge is the uncertainty,” he says. “ We need to reduce that to attract investors and capital–these points are not unique to the Caribbean area.” Nonetheless, for a region that boasts more than 300 days of sunshine annually, 85 per cent say solar power is the most suitable technology and should be explored further. Asier Aya, Ab......

...o succeed even in tough economic times. Deputy Prime Minister and Minister of Foreign Affairs Brent Symonette noted that many business owners have entered into “survival mode.” Labelling himself “an eternal optimist,” Symonette said he was convinced brighter days are ahead. He said that is why the government has jump-started major infrastructural works, such as the airport upgrade and the New Providence road improvement project, so that The Bahama......

...emanded by our customers, we have to work with government and the Ministry of Foreign Affairs on the easing of visa requirements and conditions that make it easier for people who hold visas for certain countries, such as the US, UK and Canada, to be able to land in Nassau and get clearance here,” says Sands. “We have seen movement on the visa issue in terms of our lobby effort, and we are hopeful that before our first guest arrives a lot of these......

...the jurisdiction. “A Latin American financial crisis resulted in a number of offshore banks (particularly from Brazil) setting up [offices] in The Bahamas,” Smith recalls. Legislation continued to be updated and in the ’90s the government introduced new laws and upgraded existing legislation with regards to IBCs, foundations, special purpose vehicles (purpose trusts) and trusts. In June 2000, there was a sea change in international finance and th......

...inconsistencies in provisions for access to information and the treatment of information under international tax agreements. In total, seven of the bills addressed accounting to ensure that the industry in The Bahamas is in line with the G-20 and Organisation for Economic Co-operation and Development (OECD) requirements. They are as follows: International Business Companies (Amendment) Bill, 2011 – No. 2; Segregated Accounts Companies (Amendment)......