Recently in Bahamas Category
Legislative amendments to allow for the formation of Private Trust Companies has been introduced in the Bahamas, Parliamentary Secretary, Ministry of Finance, Michael Halkitis has revealed. According to Halkitis, these amendments demonstrated the government's "firm commitment to ensuring the delivery of superior financial services to local and international clients." "This is a progressive step in the continued growth and development of our financial services industry and of our economy," he told last month's Private Trust Company seminar.
Offshore banking and investing is not littered with money laundering criminals, fraudsters, and tax evaders as many governments will have you believe. In respect to these types of crimes the reality is that there is infinitely more criminal activity onshore within their countries then there is offshore.
There is a huge difference between those who bank and invest offshore for legitimate reasons and those who do so for illicit and criminal reasons.
Partygammon.Com Million is the Richest Backgammon Tournament in History
Total prize pool over $1.2 million -- winner to take home over $600,000.
Nassau, Bahamas (PRWEB) January 24, 2007 -- The inaugural PartyGammon.com Million, the world's first ever million dollar backgammon tournament, at the famous Atlantis Resort on Paradise Island in The Bahamas, is underway with a record prize pool. The winner will collect over $600,000 from a total prize pool of over $1.2 million which is above the expectations of tournament organisers. The guaranteed first prize easily exceeds this year's world championship top prize more than five times over.
Moody’s Investor Services latest Credit Opinion on the Bahamas has noted that official foreign exchange reserves remain ample relative to debt service requirements, despite a fall in the first ten months of last year.
The report shows that the national budget was in a small surplus for the first 3 months of the 2006-2007 fiscal year, due to continued buoyant revenue growth, coupled with expenditure restraint.
Since we've been covering Marshall Islands lately, I thought it appropriate to add an excerpt from a press release from a Bahamas conglomerate (after completing an IPO on the NYSE), to demonstrate how they use Marshall Islands LLC's....
Teekay Offshore Partners L.P. (NYSE:TOO), a Marshall Islands partnership recently formed by Teekay Shipping Corporation (NYSE:TK ), is an international provider of marine transportation and storage services to the offshore oil industry. Teekay Offshore Partners owns a 26.0% interest in and controls Teekay Offshore Operating L.P., a Marshall Islands limited partnership with a fleet of 36 shuttle tankers (including 12 chartered-in vessels), four floating storage and offtake units and nine conventional crude oil Aframax tankers.
Anglers Cast Their Lure for Diverse Catch in the Bahamas Featuring some of the hemisphere's best angling waters, the waters surrounding the picturesque Bahama Beach Club Resort in Treasure Cay, Abaco are a sport fisherman's paradise. Fishing along the coast is offered in a variety of forms – surf and pier fishing, fly fishing, inshore and offshore charter fishing – with the fishing season lasting throughout the year.
The Compliance Commission has crafted a revised set of guidelines designed to strengthen the regulatory regime for anti-money laundering and combat the financing of terrorism. A lawyer practicing in The Bahamas is designated as a financial institution for anti money laundering purposes in any case where he receives funds during the course of business for services which range from investing or making a deposit on a client's behalf to settling real estate transactions.
Sculptor Kent Ullberg, widely recognized as one of the leading wildlife sculptors in the world, is set to install and dedicate his latest work, Chub Cay Blue. Installation is scheduled for July 31, 2006, and the sculpture will be dedicated, complete with a formal unveiling ceremony and attendance by Bahamian VIPs, on August 4.
A survey conducted for the Bahamas' Government by PricewaterhouseCoopers has confirmed Bahamas’ position as a leader in the three core areas of private banking, trusts and corporate services, says the Government.
CHUB CAY, Bahamas -- Walt McCrory meanders past the cottages going up on this picturesque private island he and a group of investors bought two years ago.
Chub Cay has no permanent residents, but the Du Ponts and other prominent Americans have holed up here for the past half century. While guests are only a 45-minute flight from the United States, they feel like a world away, free to sunbathe on secluded beaches that boast some of the Bahamas' best sport fishing.
The global tax watch group appeared encouraged by the efforts The Bahamas has made to strengthen its internal systems. In its report, the Organization for Economic Cooperation and Development [OECD] recognized the tax information exchange agreement [TIEA] that The Bahamas signed with the United States, acknowledged the mechanisms in place to identify owners of bearer debt and cited the measures in place to establish ownership, identity and accounting information.
EMERY P. DALESIO - Associated Press
RALEIGH, N.C. - A couple accused of running an offshore tax-fraud scheme from the Bahamas with the help of a former head of the state Republican Party should be held without bond until trial, a judge ordered Monday.
Federal prosecutors asked Judge W. Earl Britt to keep Howell and Vernice Woltz in jail because they have significant undeclared assets and have moved their primary home to the Bahamas. They are also key figures in a separate international money-laundering case, prosecutors said.
By C. E. Huggins -
NASSAU, The Bahamas: - Prompt action saved Bahamians from losing millions to convicted trader Derek G Turner.
Mr Turner, a New Zealander with Bahamian residency, came to The Bahamas in 2000. It was alleged that he had chosen The Bahamas to avoid Australia's securities regulators. At the time Australia's security regulators had questioned his trading practices and suggested he refrain from such activities.
The first Domain I registered was "InvestOffshore.com" in 1994 (when they were free from the National Science Foundation) because I was convinced that the Internet would be used in business to go Global. I was living in Boca Raton, Florida at the time and Bush Sr. was President, he kept repeating the mantra "New World Order" and after visiting Nassau, Bahamas and seeing Canadian Banks on every corner (I'm a Canuck), understanding that VSE public companies (gold mining companies mostly) and many American companies were domiciled offshore, I figured that every intelligent businessman would leverage the Internet to learn the same thing - "Invest Offshore".
