The Bahamas Investor

Free National Movement Members of Parliament forming the new government of the Commonwealth of The Bahamas were sworn in as Cabinet Ministers by Governor General Dame Marguerite Pindling at Government House May 15, 2017. Peter Turnquest was named Deputy Prime Minister and Minister of Finance and Brent Symonette takes on the post of Minister of Financial Services, Trade and Industry and Immigration. Pictured: (sitting, from left) Marvin Dames, Min......

...to pump approximately $250 million into the island’s economy. “It is therefore safe to say, that just by passing this bill, the government has paved the way for an injection of a half a billion dollars into the economy of Grand Bahama, over the next decade. Furthermore, the accompanying regulations as it relates to the extensions of duty free concessions as defined, state that these apply specifically to a licensee who “currently has an existing......

...e predicting a tight race at the polls. The incumbent Prime Minister will be hoping that the recent opening of the Baha Mar project will give his party some momentum as the economic boost resonates with voters. The Bahamas’ general election is being overseen by the Commonwealth Observer Group, at the invitation of Governor General Dame Marguerite Pindling, as well as the Organisation of American States’ Electoral Observation Mission. Polls are exp......

...is the signature event at the Grand Bahama Carnival Kick Off. Aspiring Bahamian musicians will perform the top 20 songs in the competition for a chance to secure a spot on the mega stage in Nassau and win the $20,000 grand prize. The music for the competition is currently being produced by Julien Believe while the artists are engaged in artist development programmes as part of their boot camp. In every aspect of the event, Bahamas Junkanoo Carniva......

...ster Darville said he believes the new portal will be a major game-changer for export companies and will have a great positive impact on the local economy, while fundamentally changing the way in which Bahamians do business in international markets. “As a result of accessing this portal, local Grand Bahamians will be able to save the costs of attending global trade shows. Instead, they will be able to showcase their work, as well as products and p......

...by supporting local exporters and importers with market intelligence and information to facilitate opportunities for trade and access to international markets made possible with the signing of international trade agreements. “The parties also believe that the establishment of a trade portal is critical and will give businesses the technical support needed to access international markets made available through those negotiated international trade a......

...golf classic, featured in January for the past five years, has been a boon for hotels. “For the Ministry of Tourism, for The Bahamas, if we put heads in beds and get good publicity at the same time, that’s a win-win,” he said. Jeff Raedle, tournament director and principal of Global Golf Management, said he is looking forward to a “phenomenal event”. “We start getting calls before Christmas about, ‘Hey let’s get down there; what are the new plans;......

...reasing our export of goods (namely the value-added product) and services (for example distribution, transportation and professional services). In a heavily dependent services-based economy, the value added trade strategy not only increases opportunities for export of Bahamian services (i.e. professional services and transportation) but also increases opportunities for export of goods. A value added strategy involves The Bahamas taking advantage o......

...role in exponentially increasing The Bahamas’ market access to more than 500 million people, a high percentage of whom have the discretionary income, the free time and the desire to travel to jurisdiction.......

...rightly so,” said NewCo vice president of sales and market Johnny Ingle at the launch, according to the Nassau Guardian. The operator is set to offer a range of packages, including unlimited data and voice plans, with some offers also coming with free calls to the US and Canada. NewCo is 48 percent owned by Cable Bahamas (CBL), which earlier this year committed to extending NewCo’s network to 99 percent of Bahamas’ six largest islands by 01 Febru......

...the transitional period. Separate pro forma affidavits have been developed for completion by web-shop owners seeking to continue their business operations during the transitional period and those who elect to cease their operations. These affidavits are annexed to the Gaming House Operator Regulations, to be published in the Gazette by November 25, 2014. December 8 2014 will be the final cut-off point for the submission of these affidavits to the......

...high level good faith negotiations a substantial fund has been established by CEXIM for the payment of creditors’ claims and former Baha Mar Bahamian employees are already being paid. Those were two of the Prime Minister’s three stated primary objectives and they have been achieved. The third objective is to ensure that Baha Mar is sold to a world class hotel and casino operator. The Government of The Bahamas will continue to work tirelessly to en......

...onference rooms. “Service is what sets us apart, and that service does not come without constant reinforcement of its importance,” bank president Ian Jennings (pictured) said when the contract for the new learning centre was signed in late February. The new facility designed by Arcop Ltd Architects and built by Watson Construction will free up much-needed space at The Plaza, Mackey Street which houses the plaza branch, MasterCard credit centre and......

...the government announced plans to build a major motorsports complex to be completed by 2016. Minister of Youth, Sports and Culture Dr Daniel Johnson used the first ever meeting of the FIA (Federation Internationale de l’Automobile) in The Bahamas this week as a platform to make the announcement of the $9 million complex that will serve as a multipurpose center, providing a facility for safe driving training for police, security and ambulance oper......

...s look to The Bahamas to conduct some of their business. Some achieve this by becoming non-residents of Canada and setting up their homes in The Bahamas. Once they do this, they suffer no income tax in Canada, except on income from employment in Canada, the profits from business done there, gains from taxable Canadian property or the 25% withholding tax on certain kinds of investment income derived from?Canada. Capital gains tax on non-residents N......