Ban Kentucky Fried and you won't need NHI.

To be fair, I have said from the beginning that employment numbers from this Bill will be very small. However, future opportunity may be high, depending on how it is enacted and who is attracted.
Overall, you will probably agree, we are better off with it than without it. Better to have a slim hope than no hope whatsoever.

I agree with everything Brent says above.

The logical next question is: why have ANY capital requirement limit? Where does $250,000 come from? It is just plucked out thin air. It is meaningless.

The capital requirement for software is literally an office and 5 computers. That can all be had for $10,000. On the other hand, I would challenge anyone to get into nanotechnology without investing at least $100m.

On the realistic side, the total amount of people who are going to come to invest in Nanotechnology or Data Storage & Warehousing is ZERO. Our only hope is that we can attract 20-30 software guys and that is about that.

You are absolutely right and no US person is going to come to the Bahamas, whatever some Bill says. That is because the US has universal taxation, meaning that wherever you reside, you pay tax in the USA.
This Bill is meant for the rest of the world, which has residency taxation.
If you physically move your software business from Europe (or Latin America) to the Bahamas, you will pay income tax here. And since there is no income tax...

"When asked for his comments on the ongoing discussion surrounding the bill, Bahamas Public Services Union (BPSU) President Kingsley Ferguson questioned how many jobs could be derived from a $250,000 investment.".

Lets work it for the dinosaur. A computer, and I mean a really good one is about $2,000.
Steve Jobs and 3 pals started in their garage and now employ 116,000. The 2 Google founders employ 72,000.

So the answer is: more than there are people in the Bahamas.

All very true. Radical root and branch reform is needed.
However no one in their right mind is going to come here to sell anything in the Bahamas. All the software will be for export and via IBCs, surely? That way VAT and business licence will not apply.

It will provide employment for maids and secretaries NOW because that is currently all we have to offer. But it will provide opportunity in the future to any Bahamian who educates himself and fulfills the knowledge requirements of those companies.
Whose fault is that we did not suitably educate the population? OURS! Now we are paying the price. Let us at least lay the foundation for opportunities tomorrow!
As to the $250k...I keep repeating this and it is like talking to a wall. What does a software company need? An office, some desks and some computers. How much money do you need to fund that? Not even $50k. Gone are the days when you needed massive capital investment for business. Look at silicon valley. All businesses each worth 10 times the whole of the Bahamas with negligible capital requirements.

To all those saying $250k is not enough...not enough for WHAT? These are not hotels, these are industries where you need a small office and some computers. That is all. Stop thinking tourism and hotels and get with the knowledge economy!

LOL at MadHatter's comment. How true.

That is because we have no problem with whites being successful and rich. We expect that. We do not resent that. They don't live among us, they are far away.
What we do have a problem with is if some black were to get a job in the "space orbiting communication satellite industry" and we were still stuck breaking conchs. That will never do.

Hey Tal, you do know that normal people have more than 1 bank account, right?
1 for current expenditure, 1 for capital maintenance, 1 for savings & investment, 1 for retirement, 1 for each subsidiary business...etc, etc..etc...
Do they even have a bank on your rock? Tell me if they don't, I will post you a picture.