The Bahamas Investor

...it is interesting because you have some stable rules to deal with. I feel comfortable in this environment, because you can address the matter in a proper way.” Vanacore said there are opportunities in the region in the insurance sector. He also noted that the focus is shifting from simple savings to “non bankable” assets. “Insurance for Latin America is becoming even more relevant. It is a very interesting wealth planning tool,” said Vanacore. “I......

...ient, you have to be honest with them. You have to break down how you will prepare for the next generation.” Another serious challenge in doing business in the region is lack of technological know-how, according to Michael Fields, regional manager of Cititrust (Bahamas) Ltd , who said relying on postal mail made compliance difficult. He said older clients typically prefer to receive documents via postal mail rather than electronic delivery. “We ne......

...s to oversee the airport redevelopment of LPIA. With two terminals already completed, the airport management company and Canada-based general contractor Ledcor Construction have already begun work on the final stage of construction. More than 500 workers were on site at the peak of construction for Stage 2. The impressive three-story structure has barrel-vaulted ceilings and the curved roof design mimics ocean waves. “The new LPIA has a distinctiv......

...xpenses for Bahamians. He wants the foundation to help reduce this figure, freeing up more funds for education and infrastructure. “More money is spent on healthcare in this country than anything else,” he said at the camp’s closing ceremony. “One Eleuthera wants to bring those numbers down. If we were to take care of ourselves better, the country would have more money to spend on proper roads and proper schools.” The next Wellness Boot Camp takes......

...n Account Tax Compliance Act (FATCA) , which will become law next year and forces foreign financial institutions (FFIs) to disclose information on their US accounts to the US Treasury. Countries seeking to comply with FATCA can sign an Intergovernmental Agreement (IGA) with the US that determines the specifics of how they will release information. A model I IGA allows for the country’s government to report to the US, whereas under model II, FFIs m......

...as given rise to many circumstances in which financial institutions can be compelled to disclose information that would previously have been considered confidential, according to the former Attorney General. “It is not an easy landscape any more,” he said. “You need to ensure you are doing the right thing. You need to understand the scope of the disclosure compelled. If you step outside of that scope, you are in a danger zone.” Delaney warned comp......

...direct investment and investing in education and training to make the workforce more competitive. “We are committed to making it easier to do business in The Bahamas [and] to ensure the strengthening of our financial system,” he said. Changes ahead include new legislation to establish a credit bureau and regulation to protect pensions, according to the Minister. “We want to improve the way that we do things. All of these reforms must be understoo......

...nal Business Corporations to maintain records for a certain period of time come into force. He encouraged the sector to scrutinize itself and put in place effective means of self-regulation, saying: “It is very important that the accounting profession gets serious, and remains serious, about its peer review initiatives [and] its ability to regulate itself to the highest standards in the world. It will be the only way that the industry will survive......

...a creative investment vehicle that gives investors a significant degree of comfort.” Jones said investors are moving away from the traditional structures of hedge funds and seeking out more liquid funds, such as commodities or private equity funds. “We are seeing a diminishing investor appetite for traditional asset classes. Clients need the right structure so they can achieve the types of returns they are looking for.” Accountants’ Week is hosted......

...field every day and the stakes have never been higher,” she said. “It is a competitive battle out there and if you are not prepared to invest in it, as a country, then we will be left behind.” “We are in a new landscape when it comes to regulation. There is a natural tension between regulators and industry, but that tension does not need to be combative. We can work as one to make ourselves a very competitive financial centre.” Over the past year......

...to stay focused, work hard [and] work smart. I believe that is the recipe for success.” During her opening address at the forum, which took place at the Balmoral Club , Strachan urged the audience to learn from more senior industry figures. saying: “The industry does not thrive well in an isolated environment. It thrives on the transference of knowledge. Seek out models, mentors and coaches. They can provide advice and guidance to ensure your suc......

...ndustry worldwide. The winners will be announced at the Awards Ceremony Gala October 17, 2015, in Turks & Caicos. Voting is now open, online at worldtravelawards.com/vote where anyone can register and cast their vote, in all of the categories, until August 23.......

...range from basic hospitality training to professional certifications covering an array of disciplines. The courses are designed to meet internationally accredited standards and will be administered by certified hospitality educators trained by the American Hotel and Lodging Educational Institute and Sandals-trained certified departmental trainers. tblair@dupuch.com......

...ernment of the Bahamas which confirmed that all fees due had been paid and company had complied with the terms of the licences. Chief executive Simon Potter said: “The first half of 2012 has been a busy period for both the company and the Bahamian people who have seen a new government elected to power. “The company continues to work closely with the new government especially on the environmental front as we progress our plans to drill an explorato......

...ent on to say that each compliance officer is also a business developer and that compliance should facilitate the development of good business and screen out bad business. “For me, compliance is all about customers. It is about ongoing management of customer relationships.” cmorris@dupuch.com......