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Pinder touts “investor friendly” Bahamas

Addressing the Global Financial Summit at Atlantis Paradise Island last week, Minister of Financial Services Ryan Pinder said that The Bahamas is a "stable, well regulated, sovereign democracy" welcoming to investors. (Photo/stock) 

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TheBahamasInvestor.com
Monday, February 11, 2013
Monday, February 11, 2013

International initatives imposed on offshore tax centres place an “overbearing” burden on small jurisdictions such as The Bahamas, according to Minister of Financial Services Ryan Pinder, who says the country is a well-regulated, robust environment for investors.


Addressing the Global Financial Summit at Atlantis Paradise Island Thursday, Minister Pinder stressed that The Bahamas has been judged compliant with international best practices by the Organisation for Economic Co-operation and Development (OECD) and: “Our only crime is having a competitive tax structure. The Bahamas tax structure has evolved not from the desire to create a tax haven, but one that is based on the best approach to raise revenue for the government.”

“We live in interesting times,” he told the audience of high-net-worth individuals and investors. “The world has changed and the rules have changed. In the midst of all of these changes, small centres like The Bahamas are navigating a very bright future for our citizens.”

The Minister highlighted the country’s “investor friendly climate” and pointed to developments such as the $3-billion Baha Mar resort and the Albany community as evidence of the nation’s economic growth.

“Development is going on in The Bahamas for a reason,” he said. “We are a stable, well regulated, sovereign democracy [and] we are the avenue to the Americas.”

Pinder also spoke of his Ministry’s recent promotional trips to South America, to introduce investors there to the products The Bahamas has to offer, such as SMART funds, which were developed specifically with Brazilian clients in mind.

“We have been actively raising our profile in Brazil,” he said. “There is a tremendous amount of economic activity going to be found in Brazil. We are the jursdiction of choice, we are different, we are unique and we have the ability to be innovative.”

cmorris@dupuch.com

Speaking at a maritime workshop being held in Grand Bahama this week, Minister for Transport and Aviation Glenys Hanna Martin said the government is working towards realizing the potential of the maritime sector.

The Ladies Professional Golf Association tournament to be held on Paradise Island in May will put the country centre stage of the golfing world, according to the Ministry of Tourism. Watch a ZNS news report here.

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