Halkitis: Bahamas continues to be a safe harbor for financial services


The Bahamas continues to be a safe harbor for global financial services, Minister of Economic Affairs Michael Halkitis told attendees of the annual STEP (Society of Trust and Estate Practitioners) LATAM Conference on Friday, explaining that the industry continues to produce talent in the financial services sector that rivals the rest of the world.

Halkitis told the group that this jurisdiction continues to take a “measured approach” to the development of new financial instruments and employs “unparalleled expertise and jurisdictional strengths”.

“What we have in The Bahamas is some of the strongest trust-specific legislation in the world,” said Halkitis.

“We are well-regulated, globally compliant and universally respected. We have prioritized the Latin American market and are constantly catering to the needs of our existing and prospective regional clients.”

He explained that The Bahamas has the largest STEP branch in the Latin American and Caribbean region and sixth largest in the world – a testament, he said, to the quality of professionals in the sector.

“You will find talent within our borders that is on par with the world’s best jurisdictions,” said Halkitis.

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