News Americas, Basseterre, St. Kitts, Fri. March 08, 2024: The Government of St Kitts and Nevis have ushered in a new era of investing through the “Investment Gateway Summit”, calling for its economic citizens to visit their home. Global investors and high-net-worth individuals (HWNIs) can explore endless opportunities whilst being hosted by the Government. 

St. Kitts & Nevis

The Prime Minister of St Kitts and Nevis, Honourable Dr. Terrance Drew, along with his Government, extends a personal invitation to citizens and investors to attend the exclusive inaugural Investment Gateway Summit from 11 to 15 May 2024.  

This significant event is an opportunity for Kittian and Nevisian citizens around the world to return home to discover how the twin-island federation is utilising economic diversification to advance developments and our citizens. 

This personal invitation from Honourable Dr. Drew, is an experience not to be missed to learn about the Sustainable Island State Agenda from the Government and key speakers , while connecting and building with visionary leaders, global businesspeople, and economic citizens. 

During the five-day Summit, economic citizens can engage and interact with national leaders and global experts. They can also explore the natural wonders the islands have to offer, with unique premium experiences to share with the world. 

Please click here to secure your exclusive spot at the Investment Gateway Summit. 

What to Expect from the Summit?

As an economic citizen, this will be your opportunity to connect with like-minded individuals in various businesses and network with businesspeople. 

Economic Citizens will have the opportunity to experience firsthand what initiatives St Kitts and Nevis are engaging in and the progress of each development. 

Learn about St Kitts and Nevis’ economic outlook for 2024 and beyond in addition to understanding how economic diversification can inspire change. Investment-led projects in the twin-federation and how you can become part of these exciting developments will be presented. 

Gain insights into the Sustainable Island State Agenda and why it is an essential element in the “Investment Gateway Summit” in May 2024. 

The Sustainable Island State Agenda key focus is on seven pillars: 

1. Food security 

2. Green energy transition 

3. Economic diversification 

4. Developing the Creative Economy 

5. Post-pandemic recovery 

6. Attract and support sustainable organisations 

7. Extend social protection and safety for vulnerable individuals 

These seven pillars form part of the Sustainable Island State Contribution (SISC), which is an exciting new investment option under the Citizenship by Investment (CBI) Programme. 

The SISC is an opportunity to contribute to the development of a new nation. It’s a secure and sustainable option for savvy investors looking to make a strategic investment. 

Collaborative sustainable development initiatives will nurture economic and community development and extend shared values of excellence. 

“Connect, Collaborate and Celebrate” with Us

If you’re interested in promoting your brand, business services, or exploring sponsorship opportunities, feel free to leave a comment here along with your inquiry in the contact form. We’ll promptly respond with details on available packages. 

Tickets are limited – make sure to get your early bird tickets! 

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St Kitts and Nevis

News Americas, London, England, Monday, March 04, 2024: Gordon Brothers, the global asset experts, is exclusively offering for sale by private treaty the Royal Falcon One superyacht.

Royal Falcon One was built in 2019 and is the world’s only luxury catamaran superyacht created by Studio F.A. Porsche. The vessel is a generous four-deck, 10-berth catamaran benefiting from best-in-class design and artisanry.

The superyacht has a range of 1,200 nautical miles and boasts onboard facilities including five VIP suites, four crew cabins, 10-seat dining table, three bars and a relaxing sundeck featuring a lounge area and jacuzzi. A shallow draft enables the yacht to access and anchor in the most secluded coves.

“Royal Falcon One presents a unique opportunity for the discerning buyer to acquire a one-of-a-kind catamaran under 500 gross tons,” said Oliver Veart, Director, Marine & Valuations at Gordon Brothers. “The vessel is berthed in Genoa, Italy and available for prompt delivery in time for the Mediterranean summer season.”

For further details, please contact Oliver Veart at ov****@go************.com. For vessel specifications, please visit our website.

Gordon Brothers has established a dedicated marine services and valuations practice that leverages decades of experience buying, selling and valuing assets in the commercial and industrial economy across Australia, Brazil, Canada, the U.K., Europe, Japan and the U.S. The firm provides advisory services including fleet and vessel renewal analysis, disposition and investment strategies.

About Gordon Brothers

Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, management teams, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four services areas: valuations, dispositions, financing and investment. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to provide maximum liquidity, put assets to their highest and best use and mitigate liabilities. The firm conducts more than $100 billion worth of dispositions and appraisals annually and provides both short- and long-term capital to clients undergoing transformation. Gordon Brothers lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services. The firm is headquartered in Boston, with over 30 offices across five continents.

News Americas, NEW YORK, NY, Mon. Feb. 26, 2024: The European Union has updated its list of non-cooperative jurisdictions for tax purposes, removing several Caribbean nations from its so-called Blacklist.

TCI is now off the EU’s blacklist.

The European blacklist, created in 2017 in the wake of scandals such as the Panama Papers and LuxLeaks, is meant to encourage other countries and jurisdictions to “adopt fair tax policies” and “increase tax transparency.”

The EU announced that these three Caribbean countries are now off its “Blacklist.” They are:

1: The Bahamas

2: Belize

3: The Turks and Caicos Islands.

Those still under scrutiny for their tax governance practices are:

1: Anguilla

2: Antigua and Barbuda

3: Trinidad and Tobago

4: US Virgin Islands

The EU encourages these jurisdictions to amend their legal frameworks to address identified tax governance shortcomings. Included in the list are countries that have either not participated in constructive dialogue with the EU regarding tax governance or have not fulfilled their commitments to enact necessary reforms. These reforms are expected to align with the EU’s objective criteria for tax governance, which emphasize tax transparency, fair taxation, and the prevention of tax base erosion and profit shifting.

The list is revised biannually, in February and October, to reflect changes and is overseen by EU finance ministers. Notably, recent assessments by the Organisation for Economic Co-operation and Development (OECD) Forum of Harmful Tax Practices (FHTP) identified issues in the Bahamas and Turks and Caicos Islands related to enforcing economic substance requirements. However, subsequent recommendations were softened, leading to their compliance with standards for jurisdictions with minimal corporate income tax.

Additionally, Belize and Seychelles were previously flagged by the OECD Global Forum for deficiencies in information exchange but have since implemented rule changes that warrant further review. Meanwhile, Botswana and Dominica received positive evaluations for their information exchange practices, leading to their removal from the list.

News Americas, NASSAU, Bahamas, Fri. Feb. 9, 2024: The Government of The Bahamas has announced plans for tax reforms that will impact the Bahamian private islands owned by cruise lines, ending their nine-year value-added tax (VAT) free status. This confirmation comes amidst a reveal of a Department of Inland Revenue “guidance document” from Simon Wilson, the Ministry of Finance’s financial secretary obtained by the local Tribune newspaper.

An aerial view of Coco Cay, the private island for Royal Caribbean International cruise line, in the Bahamas. (Joe Burbank/Orlando Sentinel/Tribune News Service via Getty Images)

According to the document, tax authorities intend to change the tax treatment of goods and services supplied to millions of tourists visiting these locations annually by imposing VAT on all such transactions at the standard 10.0% rate within the upcoming weeks.

Wilson emphasized the government’s disagreement with the International Monetary Fund’s (IMF) suggestion of introducing a personal income tax targeting the top 10.0% of earners, among other reforms, to achieve its 25% revenue-to-GDP goal. He argued that the current tax system possesses adequate “buoyancy” to meet revenue ratio ambitions.

However, the IMF’s proposed reforms, including the implementation of corporate and personal income tax regimes, might face resistance in The Bahamas due to the absence of historical taxation of such kinds. Additionally, their execution would necessitate substantial investment in training personnel and technology for administration.

The Davis administration has set a target for government revenues to equal 25.0% of GDP by the 2025-2026 fiscal year. Yet, without the outlined reform package, the IMF projections indicate that this ratio would persistently remain just below 22.0% through 2032-2033.

These proposed changes, notably the new VAT and discussions regarding a corporate income tax, could signify a positive step for The Bahamas, whose revenues have historically relied heavily on tourism. This dependence renders its economic activity and fiscal position susceptible to industry-related adversities, including climate-related and economic shocks. However, the extent and impact of these tax restructuring measures remain to be seen.