Illegals need to be deported. Period. There is no more to be said about that part of it.
Here comes the next part.
I, like the author, like Asian food. I think it is a positive for this country to have restaurants from the Philippines, Thailand, China, etc.
There has to be a path to legalising the position of these people who certainly contribute to the cultural diversity and economic offer of Nassau. This can be done through quotas. Do we want 5 restaurants? OK, 20 work permits should be enough. That will be the quota. No one can tell me that 20 Asian chefs is going to swamp us.
But no, our Immigration Laws are so antiquated and the Immigration Department is so inefficient that they can't do anything in a reasonable amount of time. If they could pull their finger out, we probably would not have half the number of illegals here, for they would have a legal status.
You can no more have a white Bahamian than you can have a black Bahamian or a green Bahamian with yellow polka dots.
You can only have a Bahamian who is white or a Bahamian who is black, etc. This matters and I am surprised that these grammatical errors still slip through.
Of course you can. It is a private contract between two parties. Problem is, they might not want to quote you. I had huge trouble finding one...eventually did. Premiums 40% of Bahamian quote.
All of this is either unattainable or completely unnecessary. But I suspect it is just mumbo jumbo to placate diehard PLPs who have no clue.
1. Unattainable: you cannot have "strict time limits" on the training of a nanotechnology scientist. It might take years, it might take forever. No way of knowing. And who is to decide if he is trained "enough"? Some government committee? Please, let's get serious.
2. Unnecessary: companies are for profit entities. Profit is the difference between the price of product sold and the cost of producing that product. It is in the company's interest to have the best employee relative to wage paid in a position. They will always do the maths and decide accordingly. If a Bahamian performs on a par with an expat (or anywhere near that level), the company will always go for the Bahamian, because he is soooooo much cheaper. In my industry an expat costs me $200,000 (wages, rent, club fees, trips home, subsidised schooling, etc, etc, etc...) while a Bahamian costs less than half that. No legislation necessary. The market will take care of it. So much for the complete rubbish that companies prefer to hire expats. The exact opposite is true.
It is precisely because of that and the current stance of European tax authorities that it is imperative for the person controlling the business to be physically located outside of the EU country. The company controlling the intellectual rights may as well be located on Mars. Their argument is that all income derived from it to the controlling shareholder is subject to taxation in that jurisdiction, if he is resident for tax purposes. Therefore physically moving is the only legal and valid option. Quite a few examples of that already happening here: owners of EU businesses physically residing here for 9 months of the year. This is the logical next step: while you are here, expand your business here. It will suit some, not others.
What you say is true of Americans but of no one else on this planet. This is because USA has universal tax (you pay in the US regardless of where you live) while the rest of the world pays tax on domicile base.
Therefore a European who physically moves to the Bahamas and spends less than 90 days in his home country will become domiciled here for income tax purposes. This is not tax evasion. It is perfectly legal and there are dozens of people already here and doing it, perfectly legally.
While all you say about competitiveness in absolutely true, many people are going to save millions by physically relocating here and carrying on business from here. While they will be unlikely to expand their business base much in the Bahamas, until many other areas are addressed (as you say), this is a necessary and welcome first step. But only a baby step.
OldFort2012 says...
Illegals need to be deported. Period. There is no more to be said about that part of it.
Here comes the next part.
I, like the author, like Asian food. I think it is a positive for this country to have restaurants from the Philippines, Thailand, China, etc.
There has to be a path to legalising the position of these people who certainly contribute to the cultural diversity and economic offer of Nassau. This can be done through quotas. Do we want 5 restaurants? OK, 20 work permits should be enough. That will be the quota. No one can tell me that 20 Asian chefs is going to swamp us.
But no, our Immigration Laws are so antiquated and the Immigration Department is so inefficient that they can't do anything in a reasonable amount of time. If they could pull their finger out, we probably would not have half the number of illegals here, for they would have a legal status.
On Illegal immigrants must go
Posted 8 December 2017, 6:33 a.m. Suggest removal
OldFort2012 says...
Actually the Bahamas was historically part of the sea bottom.
And thanks to global warming we will return to our motherland very soon. Then we can stop bothering the world with all this nonsense.
On ‘Missing’ detainee was flown to Haiti
Posted 7 December 2017, 12:13 p.m. Suggest removal
OldFort2012 says...
You can no more have a white Bahamian than you can have a black Bahamian or a green Bahamian with yellow polka dots.
You can only have a Bahamian who is white or a Bahamian who is black, etc. This matters and I am surprised that these grammatical errors still slip through.
On Mitchell hits back at Bethel over claims of race-baiting
Posted 6 December 2017, 4:57 p.m. Suggest removal
OldFort2012 says...
Sorting out who is who is easy. It's called a DNA test. It costs about $50. Only problem is, it would show you came many thousands of miles from here.
On ‘Where’s my brother?’
Posted 6 December 2017, 1:53 p.m. Suggest removal
OldFort2012 says...
TFG Global
On Bahamians warned: 'Brace' for 15-20% premium rises
Posted 6 December 2017, 11:31 a.m. Suggest removal
OldFort2012 says...
Of course you can. It is a private contract between two parties. Problem is, they might not want to quote you. I had huge trouble finding one...eventually did. Premiums 40% of Bahamian quote.
On Bahamians warned: 'Brace' for 15-20% premium rises
Posted 5 December 2017, 7:29 p.m. Suggest removal
OldFort2012 says...
All of this is either unattainable or completely unnecessary. But I suspect it is just mumbo jumbo to placate diehard PLPs who have no clue.
1. Unattainable: you cannot have "strict time limits" on the training of a nanotechnology scientist. It might take years, it might take forever. No way of knowing. And who is to decide if he is trained "enough"? Some government committee? Please, let's get serious.
2. Unnecessary: companies are for profit entities. Profit is the difference between the price of product sold and the cost of producing that product. It is in the company's interest to have the best employee relative to wage paid in a position. They will always do the maths and decide accordingly. If a Bahamian performs on a par with an expat (or anywhere near that level), the company will always go for the Bahamian, because he is soooooo much cheaper. In my industry an expat costs me $200,000 (wages, rent, club fees, trips home, subsidised schooling, etc, etc, etc...) while a Bahamian costs less than half that. No legislation necessary. The market will take care of it. So much for the complete rubbish that companies prefer to hire expats. The exact opposite is true.
On ‘Naysayers’ need to get on board
Posted 5 December 2017, 7:39 a.m. Suggest removal
OldFort2012 says...
Do tell...
On Minister clarifies which industries can qualify for bill
Posted 4 December 2017, 11:19 a.m. Suggest removal
OldFort2012 says...
Of course I do :)
It is precisely because of that and the current stance of European tax authorities that it is imperative for the person controlling the business to be physically located outside of the EU country. The company controlling the intellectual rights may as well be located on Mars. Their argument is that all income derived from it to the controlling shareholder is subject to taxation in that jurisdiction, if he is resident for tax purposes. Therefore physically moving is the only legal and valid option. Quite a few examples of that already happening here: owners of EU businesses physically residing here for 9 months of the year. This is the logical next step: while you are here, expand your business here. It will suit some, not others.
On Software developer: Tax woe drove us to Cayman
Posted 4 December 2017, 7:51 a.m. Suggest removal
OldFort2012 says...
What you say is true of Americans but of no one else on this planet. This is because USA has universal tax (you pay in the US regardless of where you live) while the rest of the world pays tax on domicile base.
Therefore a European who physically moves to the Bahamas and spends less than 90 days in his home country will become domiciled here for income tax purposes. This is not tax evasion. It is perfectly legal and there are dozens of people already here and doing it, perfectly legally.
While all you say about competitiveness in absolutely true, many people are going to save millions by physically relocating here and carrying on business from here. While they will be unlikely to expand their business base much in the Bahamas, until many other areas are addressed (as you say), this is a necessary and welcome first step. But only a baby step.
On Software developer: Tax woe drove us to Cayman
Posted 3 December 2017, 4:32 p.m. Suggest removal