The Bahamas Investor

...ory measures by which financial information in The Bahamas may be accessed by foreign judicial and/or regulatory authorities, subject to appropriate safeguards. This information has been updated. View/download the latest changes in the 2017 Investor’s Resource Guide. Judicial gateways Evidence (Proceedings in Other Jurisdictions Act, 2000 (EPOJA): Under the EPOJA, an application from a foreign court may be facilitated by the Supreme Court of The B......

...The Central Bank of The Bahamas Governor John Rolle briefed the media yesterday following a report by the Monetary Policy Committee. In the Monetary Policy Committee Press Briefing Rolle said that the Bahamian economy grew slower last year due to the impact of Hurricane Dorian. Read/download his remarks here: Monetary Policy Committee Press Briefing......

...The Ministry of Finance financial secretary John Rolle released a public statement regarding several revenue reforms approved by Parliament during the 2015/2016 Budget Debate. These mainly affect the revenue collections that fall under Ministry of Finance agencies and include Customs Duties and Excise Taxes, Stamp Taxes, Value Added Tax (VAT), Real Property Taxes and Business Licenses. Download a PDF of the statement here.......

...s should not have to differentiate between an outgoing government and an incoming government, because the process should be institutionalized. Minister Rolle said the major challenge of governance is ensuring balanced development and employment opportunities for local workers. Pictured: Investment State Minister Khaalis Rolle (left) and Robert “Sandy” Sands from Baha Mar during a panel discussion at the Caribbean Hotel Investment Conference and Op......

...nt & hotels (2.42%). However, the majority of the other categories recorded average increases of under 2.0%, with the exception of communication costs, which declined by 0.18%. Download The Central Bank of the Bahamas’ Monthly Economic and Financial Developments report here.......

...ds were noted over the eleven-month period, as total room revenue advanced by 4.5%, buoyed by an increase in the average occupancy rate to 69.2% from 64.5% a year earlier, while the average daily room rate declined by 3.2% to $225.77. Domestic energy prices fell in November, as both gasoline and diesel costs contracted by 5.4% to $5.48 per gallon and by 0.6% to $5.33 per gallon over the prior month, but firmed year-on-year by 6.0% and 4.7%, respec......

...the other designated person(s). Can be deceased and his trust established by testamentary disposition. Designating instrument: Names the designated person(s) and is kept at the office of the registered representative. Form of acknowledgement is required whereby the prescribed settlor acknowledges awareness that PTCs do not require: directors to possess expertise in trust administration capital exceeding $5,000 a fidelity bond an annual audit Regi......

...ral Bank), or iii. is engaged in a business where the Minister responsible for companies has prescribed a primary regulator. Registration A SAC must file a request with the Registrar to be registered as a SAC containing the prescribed information and accompanied by the consent of the primary regulator of the relevant business. Where the company has conducted business prior to the application for registration, a statutory declaration containing pre......

...Investor Legal Directory takes a look at the legal framework of the jurisdiction and offers profiles of some the key legal minds that have shaped the profession in The Bahamas. Moreover, the supplement contains a listings section with contact information for some of the top legal firms in the country, providing vital information on areas of specialization, key personnel and experience. The Bahamas Investor Legal Directory can be viewed online or i......

...owning these luxury residential properties, according to the latest study by Wealth-X and the Sotheby’s International Realty® brand released today. The UHNW Luxury Real Estate Report: Homes As Opportunity Gateways reveals two trends that are fueling the rise in the number of ultra wealthy individuals who are buying luxury homes: (1) International home-buying by UHNW individuals (defined as those with at least US$30 million in assets) from emergin......

...ndex top 10: 1. Singapore 2. Hong Kong SAR, China 3. Finland 4. New Zealand 5. Sweden 6. Canada 7. Norway 8. United Kingdom 9. Ireland 10. Malaysia “Global Opportunity Index; Attracting Foreign Investment” by Heather Wickramarachi and Keith Savard, is available for download at no charge. Accompanying the report, a web tool, globalopportunityindex.org, provides full access to the rankings, in each of the four categories, with an interactive feature......

...ervices, to 0.5% from 0.7%. In addition, the decrease in the average price for communication was extended to 3.5% from 1.2% in 2012, while recreation & culture costs fell by 0.7%, vis-à-vis a slight 0.1% increase in the corresponding period last year. In a modest offset, average inflation rates firmed for restaurant & hotels and alcohol, tobacco, & narcotics, to 3.2% and 2.7% from 2.2% and 1.6%, respectively. Energy price developments were mixed o......

...nly agreeable assessment of countries as regards their cooperation is made by the Global Forum and that a number of countries identified in the EU exercise are either fully or largely compliant and have committed to AEOI, sometimes even as early adopters. Without prejudice to countries’ sovereign positions, we are happy to confirm that these jurisdictions are cooperative and we would like to commend the tremendous progress made over the past years......

...by US taxpayers using foreign accounts. FATCA requires foreign financial institutions (FFIs) to report to the IRS information about financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest. Download or view the IRS FATCA fact sheet here.......

...The Bahamas Association of Compliance Officers is to host a seminar on the imminent US Foreign Account Tax Compliance Act. The event will be held at the British Colonial Hilton in Nassau April 3. Download/view a brochure and registration form pdf here.......