27/11/24

From Features

Bahamas Report 2024

The Bahamas has solidified its position as a leading international finance centre, navigating an ever-changing global financial landscape with exceptional resilience and forward-thinking strategies. As the global finance industry continues to evolve, the Bahamas continues to set itself apart, offering a seamless blend of regulatory expertise, technological innovation, and world-class financial services.

Niekia Horton, CEO and Executive Director of Bahamas Financial Services Board, showcases the Bahamas’ firm focus on being the Caribbean’s most complete and thriving financial centre, committed to upholding integrity in the financial system.

Antoine Bastian from Genesis Fund Services showcases the transformation of the Bahamas' financial services through legislative reforms, public-private partnerships, and innovative solutions like crypto regulation and carbon credits.

Lakera A. Russell and Dwayne Whylly from GSO Legal explore how AB Capital launched a mixed asset investment fund, utilizing the Bahamas' robust regulatory framework, skilled workforce, and innovative financial services.

Next, Dr Iyandra Smith Bryan from Quantfury Trading shares her advice to traditional financial institutions: to thrive amidst FinTech innovations, they must adapt, prioritize client needs, and embrace technological advancements.

The Bahamas leads in sustainable finance with robust ESG regulations, offering investors transparent carbon credit markets and innovative financial solutions. Delphino Gilbert Cassar and Michael Clare delve into the Bahamas’ role in the field of sustainable finance.

Paul Winder provides an overview of the Bahamas’ comprehensive wealth management toolkit. Blending robust laws, expert services, and innovative structures like SMART Funds and ICON Foundations, the Bahamas is an ideal jurisdiction for legacy and wealth planning.

Finally, we hear from Chris Illing from ActivTrades Corp. on opportunities for investment, employment and residency in the Bahamas. The Bahamas offers an exceptional blend of luxury living, modern infrastructure and tax benefits, making it an ideal destination for relocating or investing.

Bahamas

The Bahamas: A Firmly Focused IFC

Niekia Horton
Bahamas Financial Services Board

Recent discussions and narratives around International Financial Centres (IFCs) have focused on meeting the demands of international standard-setting bodies. Lost in the discourse is the value proposition of IFCs and their contributions to a globally diversified and financially inclusive community. Undoubtedly, the deliberations between IFCs and international standard-setting bodies will continue as both groups seek transparency, accountability, fairness, and equal opportunity. The Bahamas, however, is firmly focused on being the region's most complete and thriving financial centre, committed to upholding integrity in the financial system.

Successive governments have consistently demonstrated the country's commitment to good governance by fostering a robust regulatory framework. The country's membership in the United Nations, CARICOM, and many other governing agencies supports its trustworthy democratic government system. Expertise in the local financial sector, coupled with the continued demonstration of the country's commitment to international best practices and its strategic location, allows the Bahamas to remain innovative and progressive in its offering.

Bahamas

The Right To Develop: How Tax Policy Can Empower Or Undermine National Growth

Niekia Horton
Bahamas Financial Services Board

The 1986 Declaration on the Right to Development states that “the right to development is an inalienable human right by virtue of which every human person and all peoples are entitled to participate in, contribute to, and enjoy economic, social, cultural and political development, in which all human rights and fundamental freedoms can be fully realised.”

The human right to development encompasses the right of peoples to self-determination and full sovereignty over their natural wealth and resources. Central to this declaration is the ideal that every nation should have the autonomy to design policies that foster economic growth and social progress. Underpinning this principle is taxation and its profound influence on economic development.