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BAHAMAS FINANCIAL SERVICES BOARD
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In this, the second and final mini-report of the year about the financial opportunities to be had in The Bahamas, we cover an unusually wide set of subjects. The report looks at the lure of the Bahamian lifestyle for anyone who wants to set up a family office, a trust or a business in the islands – and, indeed, for anyone who wants to live or holiday there.
Boating, fishing and diving are common pastimes, the cuisine is exotic, the people are friendly, temperatures are warm and sunshine is abundant all year round. The islands boast a healthcare regime of the most modern kind.
The unspoilt Family Islands or Out Islands, meanwhile, contain a multiplicity of small airports that allow visitors to travel between them, in addition to the larger international airports near the two main cities. High-net-worth (HNW) visitors therefore find it easy to occupy beachfront villas wherever they like in these islands, with no transport problems.
In the report we also explored the future of financial technology, in which The Bahamas is a world leader. The Bahamas’ ground-breaking Digital Assets and Registered Exchanges (DARE) Act is one such example. We looked at the environmental, social and governance-related (ESG) standards that measure the sustainability and societal impact of an investment in a company or business. Wealth managers in the Bahamas find these extremely useful when advising and helping the HNW individuals in their care. The local workforce of accountants, lawyers, bankers, asset managers, FinTech specialists, environmentalists and professional trustees is especially proficient in succession planning and business continuity. This tapestry of talent provides ESG initiatives with all the support functions that they could possibly need.
Later on, we tell the story of AB Capital Partners, a globally-active investment house in New York, which more than satisfied its strategic objectives by using the diverse kaleidoscope of financial products and services available in The Bahamas. One of its chosen vehicles was an international business company or IBC. Wealth managers frequently use this type of structure in the Caribbean and the Bahamian version is better than all the others.
B*by Chris Illing, the Chief Commercial Officer at ActivTrades Corp
The Bahamas, a picturesque archipelago of more than 700 islands and cays nestled in the turquoise embrace of the Caribbean Sea, has long been celebrated for its idyllic beaches and warm climate. It is also an exceptional destination for investment, employment and residency. This article delves into the reasons why The Bahamas combines financial services, cultural richness, modern infrastructure, world-class amenities and a high quality of life to create an unparalleled living experience.
esides Nassau and Freeport, the two major cities, everyone can visit the unspoilt ‘Out Islands’ or ‘Family Islands’ (i.e. everywhere in the Bahamas beyond the islands of New Providence and Grand Bahama) which offer peace and quiet away from the hustle and bustle of the cities.
Although the Bahamas is renowned for its stunning beaches and crystal blue waters, it also boasts a modern infrastructure that supports a high quality of life. Nassau and Freeport are well-equipped with modern facilities which include shopping malls, gourmet restaurants and entertainment venues. These cities offer the convenience of urban living without losing the island’s relaxed atmosphere.
“There are several world-class medical facilities available across the islands.”
The Bahamas’ modern infrastructure extends to its transport network. There are several international airports on several islands which provide seamless connections to major cities across the globe, making travel both convenient and efficient for residents and visitors alike. All islands have airports, which make inter-island travel easy and affordable.
Meanwhile, the Bahamas’ real-estate market boasts a range of luxury properties that caters to diverse tastes. From beachfront villas with panoramic ocean views to elegant condominiums in bustling city centres, there are high-end living options that are as varied as they are luxurious. Investment in Bahamian real estate provides a high-net-worth individual with a prestigious residence that is also a strategic asset in a thriving market. Gated communities such as Albany, Lyford Cay and Ocean Club attract the rich and famous. Harbour Island, the Exumas and selected private islands welcome the international jet set year after year.
The Bahamas is also considered to be an international financial hub and has a tax regime which makes it attractive for investors and businesses. Notably, there is no personal income tax, no capital gains tax and no inheritance tax there. It has a competitive corporate tax rate, which enhances the country’s appeal as a destination for financial activities and investments.
“Nassau is only seven hours from London.”
Additionally, the Bahamas offers various incentives (including tax holidays and exemptions) to attract foreign investment and business operations and to foster economic growth. Its blend of modern amenities, regulatory advantages and strategic benefits makes it an exceptional choice for anyone who wants to thrive in the international financial landscape.
One of the critical considerations that a person can have when relocating or investing in a new country is the quality of its healthcare. The Bahamas excels in this regard, with several world-class medical facilities available across the islands. Its healthcare system is supported by a mixture of private and public hospitals, all equipped with state-ofthe-art technology and staffed by highly-trained medical professionals. Additionally, many hospitals and clinics offer specialized services, which range from advanced diagnostic imaging to complex surgical procedures. Residents therefore have access to excellent medical care, contributing to overall well-being and peace of mind.
The availability of high-quality education is a significant consideration for families that are thinking of moving to a new country. The Bahamas is home to several international schools that offer
curricula that conform to global standards. Schools such as King’s College, Lyford Cay International School and St Andrews provide rigorous academic programmes in a nurturing environment. These institutions not only cater to the educational needs of expatriate children but also embrace the rich cultural diversity of the Bahamas. They offer extracurricular activities that range from sports to arts and community service, thereby ensuring that every student receives a well-rounded education.
To invest, to work, and to live in the Bahamas is to immerse oneself in a vibrant and diverse cultural tapestry. Bahamian culture is a fusion of African, European and indigenous influences. It finds its expression in colourful festivals, rhythmic music and a rich culinary tradition. The Junkanoo Festival, held every Boxing Day and New Year’s Day, is a spectacular display of Bahamian heritage, featuring elaborate costumes, energetic dance performances and pulsating drums. This festival, along with numerous other cultural events, offers a unique opportunity to meet the local community and experience the Bahamian spirit at first hand.
“The Junkanoo Festival is a spectacular display of Bahamian heritage.”
The Bahamas is also home to a thriving arts scene. Galleries and art centres showcase the works of Bahamian artists, from contemporary paintings to traditional crafts. The island nation’s artistic landscape reflects its history and vibrant culture, creating an environment where creativity and expression are celebrated and supported.
Ultimately, what sets the Bahamas apart as a premier destination for investment, work and living is its unparalleled quality of life. The combination of natural beauty, modern amenities, easy accessibility and a supportive community creates a lifestyle that is both luxurious and fulfilling.
The Bahamian climate is a major draw, with warm temperatures and abundant sunshine all-year-round. This pleasant weather supports an outdoor lifestyle, allowing residents to enjoy a range of recreational activities such as boating, fishing and diving. The crystal-clear waters and vibrant marine life make the Bahamas a haven for water enthusiasts and anyone who wants to relax by the sea. Nassau, the capital, is only 30 minutes from Miami, 2.5 hours from New York, 3 hours from Toronto and 7 hours from London.
“This is an environment that nurtures both professional and personal growth.”
The Bahamian people are known for their warmth and hospitality. Their sense of community and friendliness creates a welcoming environment for newcomers, making it easy for them to integrate and feel at home. This positive social atmosphere and the vibrant expatriate scene, combined with a stable political environment, contributes to a sense of security and comfort.
From its lively festivals and artistic expressions to its state-of-the-art medical facilities and international schools, the Bahamas offers a lifestyle that is both luxurious and deeply connected to its cultural heritage. For people who are thinking of opening a new chapter in their lives, the Bahamas stands as a testament to the promise of a life welllived in an environment that nurtures both professional and personal growth. Embrace the Bahamian dream and discover a lifestyle that is as rewarding as it is beautiful. It’s truly better in the Bahamas.
* Chris Illing can be reached at cilling@activtrades.com
A* By Dr Iyandra Smith Bryan, the Chief Operating Officer of Quantfury Trading Limited
‘Disruption’ is the perfect word to describe the phenomenon with which the financial services sector is struggling today. It is the one constant in a fluctuating world. The question that we should be asking ourselves is: in the midst of this disruption, where do we go and how do we thrive?
t the heart of this disruption of financial services lies a loyalty crisis which every participating firm in the sector is facing right now. It does not matter whether that firm operates in wealth management, in banking, in securities or in insurance – its customers are becoming more fickle.
“Technology helps financial institutions to think differently about how they work with clients.”
This loyalty crisis is disrupting the markets. Data shows us that, fifty per cent of the time, when a child or adult inherits money, he takes his funds to another institution. Statistics further demonstrate that more than 70% of bank clients would prefer to work with a technology provider such as Apple Pay or Google Pay rather than a traditional financial institution.
Financial technology is the central disruptive force. It has redefined the financial services sector and has uprooted established and archaic banking structures and processes. Numerous FinTech advancements have transformed clients’ relationships with financial services. These include blockchain technology, mobile banking applications, artificial intelligence, robo-advisors, digital payments and more. FinTech has a critical competitive advantage over traditional financial institutions because it makes it easier and more enjoyable to do business. Its advance is driven by society’s increasing access to smartphones and mobile connectivity, as well as people’s desire for – and need for – immediacy. One can now perform banking transactions in the palm of one’s hand, as opposed to visiting a branch or calling a contact centre.
The rise of younger generations has also helped FinTech companies to capture a larger share of the market. 2.6 million Baby Boomers are dying each year, while Millenials and members of ‘Generation X’ are expected to inherit $83.5 trillion dollars in the next two decades. Numerous studies have shown that younger generations have a strong affinity for technology when they use financial services. They demand short, quick account onboarding processes and want their questions answered immediately through various technological means. Younger generations are also using mobile payment options for everything – from splitting vacation costs to making lease payments.
Whether we are young or not, all of us can safely say that we desire low friction and immediacy more than ever. In other words, a client’s trust in a financial institution rests on that institution’s ability to deliver its products and services easily, immediately and with the least amount of irritation. Gone are the days when your bank charter or your bricksand-mortar building was enough to inspire clients to trust you – now, and in the future, a financial institution’s utility and trustworthiness will rest on its ability to use technology. One of the most successful deposit products in the world, Alipay, does not even involve humans. It is completely automated, yet it has a higher trust rating than traditional financial institutions in China. Trust has to do with utility and the deployment of technology to make services easy and immediate.
Other factors continue to fuel the rise of FinTech providers. The growth of open banking, which allows outside developers to access bank data via application programming interfaces or APIs, and which encourages competition and furthers innovation in the financial services sector, is another notable trend that will shape the future of financial services.
With the use of open-banking APIs, financial institutions are able to access their clients’ financial data securely and adequately. This allows them to offer customized solutions and additional efficiencies, perhaps by streamlining loan application processes.
“Trust has to do with utility and the deployment of technology.”
We also continue to hear of the increasing use of artificial intelligence and machine learning, both of which technologies help to make financial services more efficient, more custom-designed and better tailored for the client’s use. Artificial intelligence and machine-learning algorithms can analyse financial data in order to determine a number of helpful factors, including creditworthiness, and can help to specify and identify trends and optimize loan terms for clients.
We also see a greater use of client relationship technology, which ascertains a client’s values and priorities and helps the financial institution to speak to him in the frequency and manner that pleases him. Technology helps financial institutions to think differently about how they work with clients. Importantly, it allows people who work in teams at financial institutions to focus on rendering the highest standards of excellence to clients and on maximizing their productivity with the client’s interests at heart.
Technology helps us to answer the following questions:
• How are we engaging clients?
• Are we connecting with our clients on a level that is real to them?
• Are we tapping into the full potential of our clients?
• Are we responding to our clients in a timely, efficient manner?
• Are we prioritizing the matters that are of significance to our clients?
• Are we showing the clients the passion we have for our products and services and the passion we have to be our clients’ partners and help them fulfil their objectives?
• Are we producing a high-quality work product?
• Are we empathizing with our clients?
• Are we truly enriching the lives of our clients?
FinTech capitalizes on the pain points of traditional financial institutions. It capitalizes on the failure of traditional financial institutions to answer these questions. If they go on failing to innovate, to anticipate the needs of their clientele and to provide the value they expect in the future, more of their business will go to “tech companies offering financial services.”
“Financial institutions must be at the forefront of change.”
The future is FinTech. To thrive in such an environment, financial institutions must be at the forefront of change, must be proactive and not reactive and must be attentive to their clients’ needs. The world is evolving and it is up to all financiers to ensure that they are not left behind.
* Iyandra Smith Bryan can be reached on +1 242 362 6170 or at iyandra.smith@quantfury.com
*by Delphino Gilbert Cassar, the head of business development and FinTech at Equity Bank Bahamas Limited, and Michael Clare, the head of digital assets and FinTech operations at Liongate Bahamas Limited.
The Bahamas has blazed a trail for other jurisdictions to follow in the field of sustainable finance, that set of practices and standards that strives to fulfil environmentally-sound objectives while also generating profits. In the business world, ‘sustainability’ often refers to policies that try to prevent the depletion of natural resources. Investors often take sustainable finance to be synonymous with Environmental, Social and Governance-related (ESG) investing.
The island nation began to evolve robust ESG rules and principles earlier than most jurisdictions. These are designed to benefit impact-driven businesses that want to do societal and environmental good as well as earn revenue.
“Investors often take sustainable finance to be synonymous with ESG.”
Such rules and principles are also likely to protect the environment in The Bahamas, make local communities more resilient and foster economic growth that raises the standard of living for broad swathes of the islands’ population.
But what exactly is ‘ESG’ and why is it so important?
Environmental, social and governance-related standards or criteria measure the sustainability and societal impact of an investment in a company or business.
• Environmental criteria consider how a company performs as a steward of nature, focusing on such issues as climate change, the conservation of natural resources and pollution.
• Social criteria examine its relationships with employees, suppliers, customers and communities. Labour practices and diversity (the inclusion of people with more than one creed, colour, sexual orientation etc) are factors here.
• Governance concerns a company’s leadership, executive pay, audits, internal controls and shareholders’ rights.
By pursuing ESG-related policies, businesses and investors can spot and offset risks, boost revenues and make the world more equitable
and sustainable. ESG is crucial because it aligns business success with ethical responsibility, creating wealth and tackling global problems at the same time.
In recent years, however, many people have grown sceptical about ESG. They have pointed to examples of greenwashing – the act of claiming that a product or business is more environmentally safe than it actually is. They have declared that ESG rules are not well standardised and that rigorous governance and accountability are absent.
They have also argued that it is often hard to quantify and verify the real-world impact of ESG strategies and that businesses often claim to be ESG-friendly while simply carrying on business as usual.
The Bahamas has met these concerns head on. It has built a regulatory system that is grounded in transparency, integrity and high standards of environmental and social performance.
The Carbon Credit Trading Act 2022 and the Climate Change and Carbon Market Initiatives Act 2022 contain clear and robust provisions for the validation and verification of carbon credits. They establish a rigorous process of registering and authenticating carbon credits that ensures that they represent genuine and permanent reductions or removals of emissions.
The legislation also sets out strict criteria for the accreditation of independent third-party validators who, when the time comes, will be responsible for assessing the quality and credibility of Bahamian carbon projects and assets. This guards against the risk of greenwashing and inspires trust and confidence in buyers and investors.
“In recent years, many people have grown sceptical about ESG.”
These Acts legitimise a new asset class (carbon credits) and impose a set of assessment rules on it in pursuit of the United Nations’ Paris Agreement’s goal of reducing emissions. This proves to trusts and other corporate structures domiciled in The Bahamas that the recognition and valuation of carbon credits is well regulated.
A further medley of Bahamian Acts underpins this.
The Investment Funds Act 2019 provides a regulatory framework for the creation of versatile investment fund vehicles. Investors can use these regulated funds for carbon-credit projects and for all manner of ESG investing strategies. Such funds, which range from private-placement SMART (Specific Mandate Alternative Regulatory Test) funds to professional funds, allow them to see – and oversee – the whole process very clearly.
The Segregated Accounts Companies Act 2004 makes it possible to make sub-funds available, in an economically and efficient way, with segregated NAVs (net asset value calculations) underpinning their ESGrelated strategies.
As green finance interacts with technology, FinTech projects related to the tokenisation of carbon credits or utility tokens based around ESG communities can take advantage of the regulatory clarity that the Digital Assets and Registered Exchanges (DARE) Act 2024 (an update of a previous and much more ground-breaking Act) provides.
Moreover, traditional corporate structures in The Bahamas such as companies or unit trusts may provide tokens with legal personalities by tokenising the shares or units, which have enforceable contractual rights.
The Bahamas is a robust international financial centre that offers a complete wealth management solution. Its adroit workforce of accountants, lawyers, bankers, asset managers, FinTech specialists, environmentalists and professional trustees is especially proficient in succession planning and business continuity. This tapestry of talent provides ESG initiatives with all the support functions that they could possibly need.
New types of trust asset are always appearing and carbon credits may soon be among them. Bahamian trust practitioners are always nimble and responsive to these trends, as the law requires them to be.
Moreover, trustees who want to preserve and increase the wealth that their trusts hold should consider the efficacy of ESG funds and investment options – not only for moral satisfaction, but also for the sake of monetary prudence, judging each fund or option by merit.
In 2023, sustainable funds performed far better than traditional funds in various asset classes and regions, as revealed by the Morgan Stanley Institute for Sustainable Investing’s sustainability report. Data from Morningstar, which the institute analysed, indicated that sustainable funds achieved a median return of 12.6 per cent, surpassing the 8.6 per cent return of traditional funds.
The responsible management of natural resources and ecosystems, research into their preservation and the advent of active voluntary and involuntary carbon markets are all combining to offer investors financial gain.
For instance, it has been discovered that The Bahamas is endowed with the largest natural habitat of sea grass in the world, accounting for 40.7% of all known sea grass. The sea grass works organically as a blue-carbon sink, sequestering 2–3 billion kilograms of carbon into its root systems annually. Studies are being conducted to quantify the amount of carbon credits that this discovery is going to generate.
In 2023, sustainable funds performed far better than traditional funds.”
The government of The Bahamas counts every carbon credit generated in The Bahamas as its own sovereign property. However, it is welcoming private/public partnerships that might generate said carbon credits. It wants this to happen through projects that are ‘additional,’ i.e. that cannot take place without the expected revenue from selling carbon credits. It is willing to negotiate income-sharing arrangements.
Many current and prospective grantors of trusts want to leave a positive mark on the world while also ensuring that their loved ones are cared for. This is the impetus behind the Giving Pledge that Bill and Melinda Gates and Warren Buffet founded in 2010. It is a collective effort by high-net-worth philanthropists to dedicate the majority of their wealth to charitable endeavours, either during their lifetimes or through their wills. To date, more than 240 individuals from 30 countries have taken this pledge.
Meanwhile, interest in sustainability among global investors is on the rise, with a Morgan Stanley report revealing that 77 per cent of investors are keen on companies that prioritise ESG factors. Furthermore, a poll by FTAdviser indicates that more than half of investors are planning to increase their ESG investments in 2024. PwC, the accounting firm, has also done research that shows that ESG has become a critical factor for leading investors worldwide.
The Bahamas provides an ideal destination for such investments, having legislated in favour of sustainable finance at an early stage in the ESG story. Its rules on the subject are anchored in quantifiable, verifiable metrics that measure the environmental and social impact of plans and projects – an ideal basis of support for a burgeoning ESG marketplace.
* Delphino Gilbert Cassar and Michael Clare can be reached on +1 (242) 676 8188.
*by Dwayne Whylly and Lakera Russell, a partner and senior associate at Glinton Sweeting O’Brien
The Bahamas has long been recognized as a leading international financial centre, boasting a well-established and comprehensive financial ecosystem which provides bespoke solutions that are tailored to the unique needs and preferences of a broad range of clients. This article looks at this ecosystem by exploring the journey of AB Capital Partners as it achieved its strategic goals by using the diverse kaleidoscope of financial products and services available in The Bahamas.
AB Capital is a leading global investment firm headquartered in New York. It specialises in asset management and wealth advisory services. With a diverse portfolio of alternative investments and a presence in major financial hubs all over North America, Europe and Asia, it manages more than US$100 billion in assets for institutional and high-net-worth clients.
“AB Capital identified The Bahamas as the ideal jurisdiction.”
AB Capital was approached by one of its largest clients, which was interested in launching a mixed-asset investment fund consisting of both securities and digital assets. AB Capital identified The Bahamas as the ideal jurisdiction in which to facilitate the launch, administration and management of that fund, not only because of its flexible SMART (Specific Mandate Alternative Regulatory Test) Funds regime and reputation as a leader in the regulation of digital assets, but also because of its strategic location, its robust legal and regulatory framework and the overall sophistication of its financial-services sector.
AB Capital incorporated a subsidiary as an international business company or IBC to serve as its primary vehicle for operations in The Bahamas. The structure of the IBC (ABC Bahamas) was chosen due to its ease of incorporation, cost-effectiveness and flexibility – in particular its ability to operate across borders, which made it ideal for AB Capital.
With the incorporation of ABC Bahamas completed, AB Capital proceeded to secure the necessary licences to manage the fund’s assets.
The management of securities in, or from within, The Bahamas requires licensing by the Securities Commission of The Bahamas (the SCB) in accordance with the Securities Industry Act 2024, as it constitutes the conduct of capital-market business. The SIA, which has come into force recently, has not only modernised the regulatory framework; it also upholds international standards and helps the market develop. All of this underscores The Bahamas’ status as a leading jurisdiction for securities and capital markets.
The SIA provides for the licensing of various activities, which include dealing in capital-market instruments, arranging deals in capitalmarket instruments, managing capital-market instruments and advising on capital-market instruments. A firm may receive a licence in one or all of those categories, allowing it to expand its service offering or to adjust its operations to cope with changes in market conditions. ABC Bahamas opted to be licensed in the categories of managing capitalmarket instruments and advising on capital-market instruments.
Similarly, the management of digital assets in, or from within, The Bahamas constitutes digital-asset business and requires licensing by the SCB in accordance with the Digital Assets and Registered Exchanges
(DARE) Act 2024, which also came into force recently. DARE introduces enhanced ongoing regulatory requirements for digital-asset business and registered exchanges. It solidifies the position of The Bahamas as a leader in digital-asset regulation.
Since ABC Bahamas had already applied for licences under the SIA, the SCB was able to streamline ABC Bahamas’ application for a licence under DARE, as afforded by the legislation. ABC Bahamas received its licences to advise on and manage digital assets.
An investment-fund established in accordance with the Investment Funds Act 2019, unless it is self-administered, is required to appoint an investment-fund administrator that is licensed under the IFA or is established and operating in accordance with the laws of a prescribed jurisdiction. As the United States, where AB Capital is regulated, is a prescribed jurisdiction under the IFA, AB Capital is able to act as administrator of the fund without further registration.
“DARE solidifies the position of The Bahamas as a leader in digital-asset regulation.”
As an entity regulated in accordance with the SIA and DARE, ABC Bahamas is required to have at least two directors, a chief executive officer, a compliance officer and a money laundering reporting officer. Such officers must be based in The Bahamas, using a physical office maintained by ABC Bahamas. To comply with its obligation to maintain a physical presence in the islands, ABC Bahamas tapped into The Bahamas’ highly skilled workforce and recruited a team of professionals to fill the key positions. The availability of skilled professionals with a deep knowledge of The Bahamas’ regulatory regime enabled ABC Bahamas to not only comply with local requirements, but also to maintain its global standards of operation.
Step 3: Launching the Fund
With both licences secured, ABC Bahamas proceeded to launch the fund under The Bahamas’ innovative investment funds regime. The IFA governs the licensing and regulation of investment funds and related parties.
ABC Bahamas was required, in the first instance, to establish the fund by forming the underlying legal vehicle. The IFA permits the establishment of an investment fund as a company (i.e. an IBC), a partnership, a unit trust or an investment condominium. ABC Bahamas opted for the IBC, which is the most commonly-used vehicle.
After incorporation, ABC Bahamas explored the different classes of investment funds recognised under the IFA. It could have had a standard fund, which can be marketed publicly, or a professional fund, which
caters specifically to sophisticated investors (such as high-net-worth individuals and institutional investors) who meet certain criteria under the IFA
AB Capital decided to go with a SMART fund, which offers flexibility and customisation and narrowed its options to the SMART Fund, models 002 and 007. The SFM 2 and SFM 7, as they are known, share many of the same characteristics, such as a requirement for an offering memorandum or term sheet, a minimum of two directors on the board (neither of whom need to be resident in The Bahamas) and the need for an independent custodian (unless the investments are of such a type that they do not have to be held in custody).
Neither model of fund is required to appoint an independent investment-fund administrator. Both may be licensed by a Bahamianlicensed unrestricted investment-fund administrator or by the SCB within three days of the submission of the application.
“Bahamian SMART Funds offer flexibility and customisation.”
ABC Bahamas decided to license and launch the fund as an SFM 7. This decision was driven by the diverse investment strategy which would accommodate the mixed asset classes and the ability to appoint AB Capital as a foreign administrator of the fund, with ABC Bahamas as the fund’s investment manager, capable of managing both the securities and the digital assets of the fund. As an SFM 7, the fund is limited to fifty investors and the initial minimum investment per investor is US$500,000 (or equivalent).
AB Capital’s expansion into The Bahamas was a good strategic move that had a significant impact on its global operations. By using The Bahamas’ robust regulatory regime, its highly-skilled workforce and its innovative financial services and products, AB Capital was able to launch the fund successfully and strengthen ties with one its largest clients. ABC Bahamas was, thereafter, able to create similar fund structures for additional clients. This has enhanced its overall product and service offering and has made it more competitive.
The case of AB Capital is proof that The Bahamas is a dynamic and vibrant financial hub. As the global financial landscape continues to evolve, the jurisdiction is well placed to attract international businesses and investors while adding something of its own to the evolutionary process along the way.
* Dwayne Whylly can be reached on (242) 397-9050 or at dwhylly@gsolegal.com; Lakera Russell can be reached on (242) 328-3500 or at lrussell@gsolegal.com
