The Bahamas Investor

...y that achieves value for money for the government and public users.” In a statement, the government said that while it is not new for the government to use PPPs to advance its policy objectives, the government has taken responsible action to develop a formal policy and move away from the ad hoc approve of previous governments. The PPP Policy will inject a new level of transparency and accountability to the regulation of PPP projects, creating a s......

...tor may repatriate their capital at the new bid rate of 2.5 per cent. In a statement posted on its website, Central Bank said: “Although Central Bank has implemented the period for repatriation of profits under the 10 per cent bid rate, it is not implying that investors should prematurely liquidate their investments in order to repatriate capital within the given time period.” “It is Central Bank’s view that vis-a-vis having all capital immediatel......

...facilitate a process of channelling savings into the real economy through investments to fund entrepreneurial endeavours, business expansion and infrastructure development, simultaneously helping investors to preserve or build their wealth. On the international side, the securities, investment management and investment funds sectors are fundamental to The Bahamas’ wealth management proposition as an International Financial Centre, and they genera......

...ubjected to a special tax in lieu of withholding tax. Succession duty and estate tax advantages There are no estate and gift taxes in Canada. However, individuals are deemed to dispose of their property at fair market value at the time of their death. Thus, a non-resident individual may be liable to tax on capital gains at the time of his death if he holds taxable Canadian property directly. If he resides in The Bahamas and holds no such property,......

...e, where their money is spent on public infrastructure. He said that while Minister of Finance Peter Turnquest was clear that administration officials have had to “hold the reins” on capital expenditure so far this fiscal year, infrastructure development is an area of government activity that will require priority attention going forward. “Growth-friendly and growth enhancing public investments will need to be a particular priority,” he continued.......

...in inflows to the region, according to ECLAC. Warning countries in the region not to be complacent and to make strategic decisions regarding FDI, ECLAC executive secretary Alicia Bárcena said: “In an international context of a reduction in FDI flows and strong competition for investments, national policies should be oriented towards attracting ever more FDI that contributes to forming knowledge-based capital and advancing towards sustainable patte......

...ntinue to offer mutual funds that include some percentage of international investments. The difference is that the investor does not have the opportunity to make his or her choice as to what to invest in. The introduction of the new platform changed this, allowing the investor to pick and choose and trade as often as they like, 24/7 and fully independently once they open an account with the bank. Although clients have the freedom to invest through......

...e increasingly important for those wealth planners wishing to expand their investments and financial service responsibilities. In response to this pressing need for up-to-date and reliable knowledge about this sector, the theme of this IFC World Breakfast Briefing will be the main products and services available from these financial centres, and what differentiates them from other jurisdictions. This 50-minute panel session will also shine a light......

...oint a new property manager for the Atlantis Paradise Island resort. Prime Minister Perry Christie said he was encouraged by this latest move on the part of Atlantis. He said the latest project was one of the 36 investments that he recently mentioned during the 2014/2015 Budget Debate. “This is an enormous manifestation of confidence both in Atlantis as a successful business and in the economy of The Bahamas,” said Christie. “The size of this tran......

...participants of the workshop. Officials from the Organization of American States (OAS) are working with Bahamian officials to host the workshop. “In The Bahamas today, most government ministries and agencies have an Internet presence; most large organizations have an Internet and social media presence, and these often are used for advertising and to get feedback on new and existing products. Some also give their customers the option of making onl......

...ecutive Officer Keith Davies says, “We continue to build on the success of investments that we made in establishing close working relationships with our Sponsor Members and the wider Bahamian Financial Services Industry. These listings are also positive proof of the value that our industry continues to add to its clients. We are confident that our market is moving steadily towards the day when listings of this nature are considered common place, a......

...t. Also, in that year my Government released an Electronic Commerce Policy Statement, which articulated the strategy for transforming the Bahamian economy into a digital one. This Policy underscored the Government’s commitment to be globally competitive and put in place the necessary information and communication infrastructure to sustain electronic business activity. Technology significantly impacts the way we conduct business and its influence w......

...ent. Bahamas Financial Services Board chief executive officer Aliya Allen, Minister of Financial Services Ryan Pinder, and Michelle Neville-Clarke of Lennox Paton will provide an update on the wealth and asset management services and products in The Bahamas, including the new Investment Condominium launched in August. Allen says: “BFSB has chosen to partner with Latin Markets in Miami, as well as in the region, because its platform provides a comp......

...menica have also granted citizenship to wealthy foreigners on the basis of investments. “There are some very high class jurisdictions that are doing this,” said Jafri, who suggested that making residency more accessible for wealthy foreigners could bring “a real major economic benefit.” Requirements could be tailored for The Bahamas’s specific needs, he added, such as requiring investment in certain sectors. Bahamian law currently grants residency......

...sions– nature tours, blue hole tours, island getaways, snorkelling.” Real estate revival As tourism grows in the Abacos, so too does the real estate sector, which is experiencing movement thanks to vacationers looking for second homes in paradise and Bahamians scooping up rental properties. “Tourism always feeds into the real estate market. A lot of people come on vacation before they decide to own something,” says Colin Lightbourn, broker with re......