The Tribune

More than 25 Bahamians were present at the Society of Trust and Estate Practitioners (STEP) annual Latin America (LATAM) conference last week, which was sponsored by the Ministry of Financial Services and Bahamas Financial Serviced Board (BFSB).

The delegation to the 300-person conference was led by Brent Symonette, minister of financial services, trade and industry and Immigration. He said: "The Bahamas has taken the initiative to rebrand itself as the 'Clear Choice' for financial professionals delivering services around the world to high net worth clients.

"Tailoring products and services to the needs of targeted clients will aid in the deliverance of the best possible result. We are committed to supporting the efforts of the financial services providers in our country. We will provide the platform and enable the necessary policies, processes, legislation and administrative services to allow these providers to operate more efficiently, and grow the financial services sector."

Topics discussed at the conference included the Common Reporting Standard (CRS); corruption; Bitcoin; and tax amnesty.

"The Latin American market is a key target for our service providers. STEP LATAM continues to be a great opportunity for the Bahamas to not only network, but to maintain and make new connections with a market key to our jurisdiction. Moreover, we are able to confidently market the Bahamas as a compliant jurisdiction of choice in an ever-changing global landscape," said BFSB's chief executive, Tanya McCartney.