Americans are still taking Bahamian positions at some some marina resorts, work permit or not, (Bimini), grossly unfair to Bahamians. Apparently depends on politics and money.

I am eagerly awaiting this program and will be among the first to apply. As a former Bahamian resident, the opportunity to move my software company to a more tax beneficial environment as beautiful as The Bahamas, is very attractive. Barbados is too isolated, lacks the constant airlift to the US, and is in the process of shedding it's ties to the British Commonwealth; which most investors see as a stable legal environment.
Unlike Americans, Canadians and Brits pay no taxes on income earned abroad and I encourage the Committee to include them in their target marketing. These people are not looking to pay no taxes; just less taxes. A 5% capital gains tax and 2% on overall income would be nothing to people like me, accustomed to paying 50%+ effective tax rates.
So with respect to Mr. Pinder, I encourage him to do a complete analysis and remember not to make perfection the enemy of positive action.
For what it's worth, I will spend multiples of the 30k per year being bantered about in these articles. I would like to tell you that I will immediately employ Bahamian programmers, but this may require training and development on my part and this will take me time.
What I can tell you is this; I will give more than I take and if you meet us in the middle, tech entrepreneurs can be part of the solution.

This is interesting. I assume you arevawarebifnchallenges with BPL. I'm not sure if the internet capabilities here are on par with what you are used to. Nut, the cost would be much higher than in first world locations.

Although, you my be excited about this opportunity, are there hoards of others who are? Let's think for a second, the tax opportunities have always been on the table. If this was such a grand idea, would we need to whisper in the ear of the world to show up here? Think about it, we have lots of foreign investors in this country. Tax breaks by itself won't result in businesses coming here. You are looking at this point in isolation. From a business perspective, you don't open a business for one or two customers unless they are extremely large. So, unless you're one of the big silicon valley size companies, you can't put a dent in the process.

To clarify, I'm not writing as an attack to you, it's just that if we look at the picture at the macro level, the government really didn't do anything here.

Yes I am keenly aware of the issues with the Island infrastructure and all it's shortcomings. I would not install a mission critical server system or data storage facility.
Last business I sold cost me 7 figures in tax; erasing any cost advantage I may have enjoyed in one fell swoop.
Although the tax advantages have always been there, the digital economy has advanced markedly and what used to be in the realm of bankers, is readily available to all. trueBahamian, I have been on Zoom, Teams, and facetime with my clients since January and it seems they are ok with that. This is the big macro change and the time is now for people like me to act.
The Bahamas needs to communicate this to all because it's competitors have been doing this all along. If you study the "Irish Miracle", it was really just a massive tax reduction by an EU economy that attracted Apple, among others. GE has a taxation dept with 900 people in it looking for domiciles to reduce overall taxes. What I am telling you is that in a market for low tax domiciles and The Bahamas can be more a winner in this arena.
If data is the new currency, then tech companies are the new bankers. And we don't argue about the benefit of the international banking system for The Bahamas. Do not underestimate the changes this pandemic has brought to the global economy; they are profound.
No one is starting a business; I am moving my existing business. To be clear, I am going to sell and market my product from a Bahamian base with my development team remaining where they are. My clients are all large multinationals with billion dollar brands and they were playing this game before it was cool.
The Bahamas is a small economy so big picture and macro level are really in the eye of the beholder. In my lifetime I saw Atlantis change the trajectory of the economy as will Bahamar (hopefully).
The government is trying something and should be commended as all I usually hear is that they do nothing.

Have you considered the existing Commercial Enterprises Act if you wanted to move here?

www.lawyerlex.com/work-and-resident-pro…

www.delaneypartners.com/2018/03/fast-tr…

I will study it. The last time I considered opening in Nassau, there were many reports and paperwork to file, waiting periods, foreign ownership restrictions, many consultants to hire. It all seemed onerous.
It's the pandemic that had cleared the final hurdles for me because my clients are willing to accept remitting payments and maybe even visitingThe Bahamas in a business trip.
Thank you for the advice.

Well, like the old saying goes "time will tell". It just seems illogical that we have a great big idea here when we have a.public education system that's I'm the toilet.

To.huild a strong natio. You have to provide your people with the tools to compete in the global environment. It's interesting you touched on the banking industry. If you are up to speed the offshore sector is a fraction nbn of what it used to be. In years to come, it will be just shadows.

Keep.in mind this is the same country that has a very low ranking in the ease of doing business. The last ranking I saw, we were behind the West Bank. There are a lot of foreign investors complaining about the state of affairs here. The issues here are not fairytales. A lot of things need to be fixed. I love my country and I hate to see that we're not reaching our true potential. It's an intellectual graveyard.

"*with my development team remaining where they are.*"

I don't see how this held with hiring Bahamians...it's basically a paper company

So, the long and short of Mr. Johnson's article here is that the Economic Recovery Committee didn't bring anything to the table.

So, once again we have a bunch of useless people sitting around the table wasting taxpayer money. Mr. JZohnsom is a complete idiot. He presented this idea as some great thing a couple of months ago. Now, he backpedaled when it's pointed out that he is a giant dumbass.