I am a wealthy American. A lot of people like me around the world would invest heavily into your economy for a second citizenship. I'd gladly buy $300k of your Bahamian bonds at a low (say 1-1.5%) interest and hold them for five years for that passport.
Right now, Turkey has a program where if you invest $250k in real estate, you get a passport. Unlike the other Caribbean countries, it is a real "citizenship by investment" program - instead of just a "passport for a fee". There have been over 20,000 people to do this in Turkey.
Bahamas has a much stronger passport than Turkey. If the government would implement such a deal, and require investors to buy and hold bonds or real estate for citizenship, you'd have $5-10 billion dollars flow into your country in the next few years. Crisis solved!
In addition to the benefit of an easy refinance/restructure of the debt, it would cause heavy capital inflows from wealthy people coming to the Bahamas who would want to build second houses, invest in businesses, and so on. Think about the increase in property taxes from RE values going up - most of that could be paid by us foreigners, who are happy to do it.
loudmouthamerican says...
I am a wealthy American. A lot of people like me around the world would invest heavily into your economy for a second citizenship. I'd gladly buy $300k of your Bahamian bonds at a low (say 1-1.5%) interest and hold them for five years for that passport.
Right now, Turkey has a program where if you invest $250k in real estate, you get a passport. Unlike the other Caribbean countries, it is a real "citizenship by investment" program - instead of just a "passport for a fee". There have been over 20,000 people to do this in Turkey.
Bahamas has a much stronger passport than Turkey. If the government would implement such a deal, and require investors to buy and hold bonds or real estate for citizenship, you'd have $5-10 billion dollars flow into your country in the next few years. Crisis solved!
In addition to the benefit of an easy refinance/restructure of the debt, it would cause heavy capital inflows from wealthy people coming to the Bahamas who would want to build second houses, invest in businesses, and so on. Think about the increase in property taxes from RE values going up - most of that could be paid by us foreigners, who are happy to do it.
On Bank chief pushes back on imminent debt default
Posted 1 October 2021, 4:07 p.m. Suggest removal