The Bahamas Investor

...een set up to monitor activities, timelines and milestones. Enforcement As for enforcement, the consultants conducted their first mission and are developing preliminary findings for the “As Is” reports. This work should conclude by September 12, 2014. Customs Network Infrastructure The final report assessing the Customs Network has been reviewed. As well, the Terms of Reference for the new Customs Network have received approval from the IDB, which......

...king closely with the U.S. Department of Justice, continues to investigate foreign financial institutions that may have assisted U.S. taxpayers in avoiding their tax filing and payment obligations. In addition, on July 1, the new information reporting regime resulting from the Foreign Account Tax Compliance Act (FATCA) will go into effect. Thousands of foreign financial institutions will begin to report to the IRS the foreign accounts held by U.S.......

...o not comply with the FATCA requirements will be deemed “non-Participating Foreign Financial Institutions” and will face a 30% withholding tax on all of their U.S source payments. In order to facilitate the reporting requirements, the Government of The Bahamas entered into an inter-governmental agreement (IGA) with the United States that details what, when and how information is to be exchanged. Before entering the IGA, The Government of The Baham......

...ent of uncertainty complicates the already difficult task of macroeconomic forecasting. The baseline global growth forecast has been revised down modestly relative to the April 2016 WEO (by 0.1 percentage points for 2016 and 2017, as compared to a 0.1 percentage point upward revision for 2017 envisaged pre-Brexit). Brexit-related revisions are concentrated in advanced European economies, with a relatively muted impact elsewhere, including in the U......

...and 20 acres of exquisitely landscaped beach and pool experiences, including a beachfront sanctuary with native Bahamian flora and fauna. For more information please visit www.bahamar.com.......

...est changes in the 2017 Investor’s Resource Guide. Foundations may be used for most purposes for which trusts and companies are presently used: estate planning, tax planning, preserving family wealth, segregating assets, perpetuating corporate governance philosophy, subordinating debts, separating voting and economic benefits, investing in private companies with a poor economic performance, owning private trust companies and establishing charities......

...(ATMs), direct credits or debits. “Payment systems lie at the heart of the financial services sector; they provide a highway over which individuals and companies receive and make payments for goods and services,” explained Laing. “A payment system is essentially a set of instruments, procedures and rules for the transfer of funds among system participants. Disruptions in a system, or the total failure of a system, pose a threat to the stability of......

...erative listing has structural implications for some businesses and may spark general concern in the industry.” “The government wants to reassure all of its stakeholders in the financial services sector that we have a strong and unwavering commitment to the integrity of our financial services industry.”......

...and we are so far encouraged by the responses we have received. Conclusion Financial services provides a critical element in the overall economic development of The Bahamas as it has been seen to support the middle class, with salaries averaging three times the national average. We must ensure the viability of this sector as an alternative to tourism and in order to do this, robust and modern legislation is just the beginning. The investment funds......

...useholders also substituted lost earnings by becoming self-employed with informal businesses. In 2011, household expenditure at current prices grew by 2 per cent. The Gross Capital Formation Index measures the value of investment in buildings, machinery and infrastructure in the economy and is a combination of the materials and labour that are utilized to produce the various projects. In 2010, current prices investment decreased by $78 million. Th......

...ucted between August to October 2017, the TC 100 list recognizes top cloud services providers (CSPs), including MSPs, hosting companies, cloud consultants and more. Rankings are based on annual cloud services revenue growth, and input from Channel Futures editors. The full report is available now by visiting ChannelFutures.com. “Cloud Carib is honored to rank 42nd among the world’s Top 100 cloud services providers, rising 50 spots from 2016,” said......

...TIO at C&W. “This partnership will allow us to offer even more value-added services, including our world class IPTV services, as well as introduce more innovative solutions to our customers.” “Cisco and Ericsson working together have the combined breadth, depth, and lifecycle engagement required to help operators like Cable & Wireless succeed in their transformation to an IP-centric network,” asserts Jordi Botifoll, Cisco president for Latin Ameri......

...ion (BCCEC ). The MOU is for cooperation in the establishment of a trade information services desk and electronic portal. The event was held February 20, 2017 at the Ministry of Financial Services. Minister of Financial Services Hope Strachan said that the concept of a trade portal is to create a “one-stop-shop” to access important relevant and current national, regional and international trade information. “The establishment of a trade portal is......

...fering multiple datacenter locations throughout the Caribbean (Freeport, Nassau, Panama and many others), Cloud Carib offers trusted security, business continuity, productivity and mobility solutions, along with professional services and multiple VAR options. All services are delivered by certified, gold and platinum partnerships with the industry’s top providers to the entire Caribbean region from The Bahamas, where private still means private.......

...plement, sell and support Palo Alto Networks’ next-generation security platform. “Cloud Carib provides clients with best in-class security and has chosen to bring the Palo Alto Networks cutting-edge security platform to the Caribbean and Latin American region. Being recognized as a Gold Partner demonstrates Cloud Carib’s commitment to meeting clients’ evolving needs in today’s highly dynamic threat landscape,” said founder and chief technology off......