On The Role of The Bahamas as a Financial Centre

The Bahamas is well known as a financial centre but do we know what really sets us apart from the competition?

Answer: The three most important factors of any business…location, location and location!

Some economists predict that Latin America (LATAM) will be a front-runner as world economies continue to emerge from recession. If this is true, should The Bahamas not focus its attention on LATAM entirely? Is The Bahamas perfectly poised to be the premier LATAM financial centre? What synergies are required to ensure that the opportunity is not missed?

Bahamas’ proximity to LATAM

On Brazil’s Provisional Measure MP 627 No. 627/2013

When giving advice to Brazilian clients, the most well known structure used by wealth planners is a directed trust and holding company. This method serves two main functions, succession planning and tax efficiency. Now that MP 627 has been proposed, the focus seems to be how best to protect the tax effective attributes derived from the holding company.

Will restating the directed trust so that it becomes discretionary in nature resolve the issue? It may but there’s only one small problem, Brazilians hate the word “DISCRETIONARY”.

Nonetheless, tax planners have dodged the proverbial bullet once again as the change is currently on hold and has so far excluded “Natural Persons”. However, when should we begin to consider the action plan? How long will it take for the Brazilian Cabinet to discern and agree best practices?

On Captive Insurance as a real alternative to commercial insurance providers.

A Captive Insurance company provides insurance solutions for its owner(s). When clients identify a risk or are required to maintain a minimum amount of insurance by regulation or statute, depending on the amount involved, it is often prudent to consider the practicality, tax and cost benefits of captive insurance.

EUROPEAN Parliament approves AML Directive and Open Registries

Europe votes for Open Registries

As expected, a full session of the European Parliament this week voted to adopt the amended Fourth Money Laundering Directive, requiring EU member states to set up publicly accessible registries of the beneficial owners of companies and trusts. A further vote will have to take place after the elections in May, after which it will be put to the Council of Ministers. Does this mark the end of offshore confidentiality in Europe as we know it? Will this create a “back door” for the U.K. to direct their territories to transition to open registries as well?

On what is a Private Trust Company or PTC?

A Private Trust Company (PTC) is a fantastic solution for succession planning, family governance and gaining ultimate control. A PTC is also used for the purposes of holding very expensive floating assets such as yachts and planes, most of which are discouraged by the big banks. This blog explores the benefits of using a PTC as an alternative to a professional trustee.

On why should I use a Family Office service?

This blog explores the pros & cons of using a family office service. Current market information indicates that Family Office services are trending, with firms claiming to have doubled their client base year after year in an apparent recession. Why are Family Offices doing so well? Why is there a steady migration away from big banks and firms to custom gate keepers? Please read this interesting article called Family Office By Julie Steinberg and Kelly Greene of the WSJ

BAHAMAS REAL ESTATE INVESTMENT OPPORTUNITIES

The Bahamian real estate market has always been a very important feature of the economy. With more developments coming to completion, the government of The Bahamas has been very proactive in reassuring its commitment to the National Investment Policy and other programs which encourage the migration of wealthy persons to the country.

At www.fidpro.com you’ll find out the granular on how you can achieve ownership in The Bahamas and have it properly structured to allow for tax efficiency and succession planning.

Please ask us questions about purchasing property in The Bahamas. We’re here to help you!

If you’re interested in any of the lots displayed above, please send an email inquiry to info@fidpro.com

The sun setting of the Canadian Immigration Trust

This Blog explores the possible effects of the February 2015 abolition of the Canadian Immigration Trust. Historical events such as the liberation of East Germany, the end of Apartheid in South Africa and the return of Hong Kong to China in 1997 created arbitrage migration opportunities for many developed countries. The Canadian Immigration Trust regime was once considered an excellent means by which a wealthy non resident person could migrate into Canada and live tax free for at least five years. Now that this option is no longer available, do you foresee that more emphasis will be placed on the use of discretionary inbound trusts?

Is an Offshore Inheritance more of a Hindrance rather than a Benefit?

30 years ago, the concept of a trust became very popular in the Latin American and Asian markets. Now that the Donors and Settlors of these trusts are becoming too old to manage them or have passed away, has there been any consideration toward how US centric the beneficiaries of these trusts have become? The children of many Latin American and Asian families have become US residents however their inheritance still remains offshore. This Blog is intended to discuss the many cross border issues associated with the US beneficiaries of Offshore Trusts.

The FidPro Blog

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