The Bahamas Investor

...rporations, ministries and departments to ensure that all engaged parties and stake holders are in full compliance. You are the key to ensuring that the laws and regulations that the government have passed on behalf of the people work in the best interest for all of us.” Pictured: Minister for Grand Bahama Dr Michael Darville, gives a video presentation at the 11th Annual Northern Bahamas Conference of The Bahamas Association of Compliance Officer......

...ny had a total cash balance of approx. $2.5m Simon Potter, Chief Executive Officer of Bahamas Petroleum Company, said: “Significant “above ground” progress has been made this year with the passage of the Petroleum Act and implementation of the associated Petroleum Regulations. This has further facilitated farm-out discussion activity and we are in meaningful discussions with a number of parties. At the same time we have significantly cut costs. “T......

...ling Mortgage Income Fund (SMIF), reflecting its expanded portfolio, reach of investments, operations and growth,” said Sterling Global Financial chairman and chief executive officer David Kosoy. The fund, singularly dedicated to real estate investment and property development financing, earned 13.8 per cent return on investment in 2015 and in the four years since its inception has reported average earnings above 12 per cent. A separate fund under......

...ect and The Bahamas in the immediate term, CTFE will invest millions ahead of the official deal completion through pre-opening activities and employment – which has already commenced and will be expanded in the coming weeks and months. Graeme Davis, the President of CTFE’s Bahamas subsidiary added, “CTFE is a company that embraces and champions the culture and values of the communities where it does business around the globe. We are excited to cre......

...expansion to the Container Port. We shall also encourage and support the efforts of the Grand Bahama Port Authority and the licensees in Freeport, both large and small in their recovery efforts to benefit the economy and the people of Grand Bahama. Mr. Speaker, The provisions of the Grand Bahama (Port Area) Investments Incentives Act 2016 and the amending Bill we are considering today, are vitally linked to the Memorandum of Understanding (MOU) ma......

...product to a foreign market will have to sift through an excessive amount of information to find reliable trade related information on The Bahamas or information that would guide him or her as to how to export that product. This makes doing business with The Bahamas difficult and expensive. The establishment of a Trade Information Service Desk and electronic portal in partnership with The Bahamas Chamber of Commerce and Employers Confederation (B......

...ted to Deltec because it prides itself on being a leader and innovator in the financial services industry. I look forward to working with the talented team here in Nassau to keep Deltec at the forefront of industry trends and continue to promote developments that can better serve our clients and enhance the wider Bahamian financial services offering.”......

...ourist-friendly and warm,” he says. “Getting around by golf cart [the main form of transport on the island] is a unique experience. We also have good options for fine dining, as good as anywhere else in The Bahamas.” Perched on a gentle slope overlooking the famous three-mile-long Pink Sand Beach on the eastern side of the island, Coral Sands is a boutique operation with just 38 rooms. At press time, the resort was in the middle of a $2.5-million......

...n in criminal matters; • The Bahamas has entered into over 33 Tax Exchange of Information Agreements. On March 20, 2010, The Bahamas achieved the G20 standard on Transparency and Cooperation in Tax Matters; • TheBahamas is Foreign Account Tax Compliance Act (FATCA) compliant. On November 3, 2014, The Bahamas and the US signed an Agreement to Improve International Tax Compliance and to Implement FATCA based on the Model I IGA. To accommodate the no......

...least six companies. The Caribbean Angel Investor Forum will provide a platform for these angels to come together as a community to share best practices and knowledge; network; and uncover new investment opportunities. Aun Rahman, financial sector specialist, World Bank Group, stated that “we are encouraged with the growth and formalisation of angel investor groups in the region. Our support will continue to further strengthen the angel investment......

...sued under The Bahamas Registered Stock Act, and authorized by Resolutions of the House of Assembly, 22nd June, 2016, the Government of The Commonwealth of The Bahamas invites applications for Bahamas Government Registered Stock totaling B$30,000,000.00. The Stock will be issued with a twenty year maturity (2036). Applications will be received by the Banking Department beginning at 9:30 a.m. on 19th August, 2016 and will close at 3:00 p.m. on [Thu......

Here follows a statement by the government of The Bahamas on the signing of a Heads of Agreement between the government and Chow Tai Fook Enterprises Limited (CTFE): The Government of The Bahamas announces the signing of a Heads of Agreement (attached hereto) between the Government of The Bahamas and CTFE, an 88 year old, family-owned, international business enterprise with significant assets inclusive of the Rosewood Hotel Group, which it owns,......

...d Bahama, is expected to be completed within twenty-four months of receipt of all of the relevant government approvals. Ladies and gentlemen, the projected impact of Carnival’s cruise port on employment cannot be overstated. Bahamian entrepreneurs operating at the new port will need to draw on wide range of local vendors such as sub-contractors, architects, landscapers, tradesmen, technicians, security, marine specialists, retail workers and other......

...ates the facility, says that the results are key indicators of the success of investments in systems such as Automated Passport Control (APC) in US Customs and the development of new customer service training initiatives. “We began the ASQ surveys six years ago to determine how we ranked regionally and to test how LPIA stacked up against other facilities of a similar passenger size,” Walkine explained. “Since then, we have seen natural spikes occu......

...business income. The concept of FAPI is meant to tax the passive earnings of foreign affiliates controlled by Canadian taxpayers. In many ways it is not unlike its American counterpart, “Subpart F” of the Internal Revenue Code. FAPI is essentially income from property or from a business other than an active business. Each year an appropriate share of the FAPI of a controlled foreign affiliate (and certain trusts), if it exceeds $5,000, is include......