The Bahamas Investor

...heir staff to position [employees] for the transition,” she recalls. Real estate maven A licensed broker, Black launched First Bahamas Realty, a boutique-style real estate company specializing in commercial properties. “I work with one or two major corporations at a time.” Her approach to the real estate game is “a strategy thing. You are either in a big organization and you have everything or you are going to be a boutique or a niche operator. No......

...Outlook conference in January, the then Minister of Financial Services and Investments Vincent Peet declared himself to be decidedly “bullish” about the nation’s economic prospects for the year ahead. Central Bank governor Wendy Craigg offered up a similar prognosis via video, predicting steady growth going forward, and the then Prime Minister Perry Christie painted a rosy economic outlook, noting that key indicators remain strong in the foreseeab......

...d of Eleuthera, he recently purchased a cay off the island’s coast. Former Minister of Financial Services and Investments Vincent Peet believes that the majority of buyers fall into the second category. “A number of these islands have been in foreign hands for some time and nothing has been done with them,” he explains. “What you find recently is a number of those are now being sold to other, wealthier foreigners who have the capacity to develop t......

...sector’s input before policy-making legislation is enacted. Vincent Peet, Minister of Financial Services and Investments, lauded the Forum’s efforts in the passage of amendments to the Banks and Trust Companies Regulation Act in the House of Assembly. Over the years, Moree has worked closely with both political parties in promoting financial services, a talent that has made him an experienced spokesman for the industry and enhanced his reputation......

...re now far more discerning about the risks they wish to take, the types of investments they wish to make and the costs they wish to incur. Initiatives in other parts of the globe can also affect the services provided and are often aimed at challenging or dismantling other offshore jurisdictions. One such initiative is the European Union (EU) tax on offshore savings, which requires countries to either levy a withholding tax on offshore savings of E......

...on in the industry. 9. Developing linkages with tourism, investment, real estate and property development. 10. Facilitating Bahamian participation in the industry. While progress has been made in each of these areas, the ongoing collaboration between the public and private sector to ensure a well-regulated, responsive and proactive jurisdiction can be credited with the success of the most recent legislative initiatives. The challenge for 2006 and......

...ance planning can provide cradle-to-grave tax efficiencies. Structures for investments A final observation that can be made on recent trends is that the offshore insurance industry has stepped away from the investment management aspects of the business where traditionally it has been relatively unsuccessful. Recognizing this and allowing the banks and investment houses to handle asset management has considerably enhanced the international insuranc......

...ehicles here in The Bahamas which can be used to facilitate international estate planning and structuring, such as purpose trusts, funds, companies and partnerships. Further, one must always keep in mind that taxation can be a very complicated discipline within the realm of estate planning. For this reason, this article is not intended to infer or provide any form of tax advice: Obtaining personalized advice from competent professional counsel is......

...exible regulations and an income-tax-free jurisdiction make it easier to administer funds and keep costs down. Probably the biggest draw to The Bahamas for a fund sponsor is the brand-name infrastructure of financial services support here, which includes global names in private banking and administration from Switzerland, North America and around the world. The Central Bank of The Bahamas counts more than 250 licensed banks and trust companies, al......

...y medical costs. Prepared travelers will plan ahead with the policy which first their coverage need best in order to protect their travel investments during the 2013 Summer travel season.......

...ready here. You’ll hear that, at all levels, they’re enjoying the same quality of service or, in some cases, better. Bio Allyson Maynard Gibson Allyson Maynard Gibson is Minister of Financial Services and Investments in The Bahamas. Before joining government, she was a leading lawyer in the area of trust and estate planning as former managing partner of Nassau-based Gibson and Company.......

...resence and, in the case of ICON, create a product that was specific to Brazil. Our success there speaks to the wisdom of that decision and the efforts and investments we have put behind it. We think Mexico holds the same promise of success.”......

...nd independence as being key drivers of LATAM business to The Bahamas. The Minister of Financial Services Hope Strachan in her first address to an international audience as Minister of Financial Services, highlighted the government’s commitment to the financial services sector and her own Ministry’s active role in ensuring that the policy framework supports its further growth and expansion. “While many countries in Latin America have achieved grea......

...Committee will report to a Ministerial sub-committee chaired by the Prime Minister and Minister of Finance. It is expected to conclude its work before the real property tax and business license exemptions expire in August 2015. The Committee is comprised of the following persons: Dr Marcus Bethel, Chairman Sir Baltron Bethel James Smith Kevin Seymour, President Grand Bahama Chamber of Commerce Maurice Moore Cassietta McIntosh The Committee will c......

...ief executive officer Aliya Allen says: “The rising demand for alternative investments is driving the creation of more user-friendly, turn-key investment fund solutions for complex money management.” “The Bahamas has earned its reputation for ingenuity in the private investment funds space with the introduction of the SMART Funds regime, which is made up of distinct, risk-adjusted, fund templates designed to facilitate investment fund business wit......