As of October 1st 2019, the Central Bank of The Bahamas proposes to liberalize Exchange Controls (EC) on residential property transactions (both purchases and sales) involving non-residents. This would apply regardless of whether the transactions take place in the name of an entity or vehicle ultimately owned by such non-resident; or directly by the non-resident.

Concurrently, the Bank will delegate the authority to commercial banks (authorized dealers) to sell foreign currency for repatriation of residential real estate proceeds, on evidence that the beneficial owner of the sold property is non-resident.

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Etienne Dupuch Jr Publications Ltd is pleased to announce the release of the Fall & Winter 2019 issue of The Bahamas Investor magazine, featuring an exclusive interview with Deltec CEO Odetta Morton, a look at the work of the newly launched Small Business Development Centre and the story behind The Bahamas’ record-breaking tourism boom.

Crammed with insightful features, investor information and financial services sector news, The Bahamas Investor is an indispensable tool for anyone looking to invest or do business in The Bahamas.

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Hotels and resorts in the region have joined with the Caribbean Hotel and Tourism Association (CHTA) to launch an online auction to help support the long-term recovery of the northwestern islands of The Bahamas.

Travellers can choose destinations and hotels by shopping or bidding on vacation options via the Charitybuzz online fundraising portal.

“We are thankful for the contributions of our hotel and resort partners to assist the people of The Bahamas during this very difficult period,” said CHTA’s president Patricia Affonso-Dass.

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Ministry of Tourism and Aviation describes its role in the disaster relief efforts and continues its promotion of unaffected areas. Watch an interview with the director general of tourism Joy Jibrilu here.
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United Nations secretary general Antonio Guterres will arrive in Nassau on Friday to meet with Prime Minister Dr Hubert Minnis and other government officials, the Prime Minister revealed last night in a national update on Hurricane Dorian relief and recovery efforts.

The secretary general and his delegation will also visit Abaco and Grand Bahama during the two-day trip to The Bahamas.

United Nations teams are already on the ground in The Bahamas to help with hurricane relief efforts. The UN has also pledged $1 million in aid.

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In spite of the devastation unleashed on the Northern Bahamas by Hurricane Dorian, Carnival Cruise Line has said it is still committed to its major project on the island of Grand Bahama.

This was confirmed by Giora Israel, senior vice-president of Global Port and Destination Development, during an interview with the media September 6, 2019.

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The Bahamas Financial Services Board (BFSB)has set up a donation page for the victims of Hurricane Dorian to provide vital funds for shelter and supplies.

The page encourages people to support relief efforts and says: “BFSB and The Association of International Banks and Trust Companies (AIBT) will contribute all funds raised to the support the provision of shelter as a priority item in the national relief effort.

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Prime Minister Dr Hubert Minnis met with USAID administrator Mark Green and his team at the British Colonial Hilton, September 8, 2019 to discuss relief efforts on Grand Bahama and the Abaco islands following Hurricane Dorian.