Island Lifestyles

The Bahamas Investor

noreply@blogger.com (The Out Island Explorer) — Wed, 03 Feb 2010 00:59:00 +0000

The Bahamas Investor

Royal Bank of Canada 100 years in The Bahamas (July 2008)

This year the RBC Royal Bank of Canada marks 100 years of operation in The Bahamas. As the first international bank in the country, RBC opened its flagship branch between Charlotte and Frederick Streets in Nassau on November 2, 1908.

The Bahamas Investor

International asset protection / To preserve family wealth in a global context, Bahamian trusts and other structures offer international solutions…

Much of the history of transferring family wealth between generations is, unfortunately, littered with failure around the world. Such a too common outcome is the inspiration for that old American proverb; “shirtsleeves to shirtsleeves in three generations.” It’s a scenario that typically runs over three stages, creating wealth, then holding on to it and, lastly, losing it or simply using it up.

There are many theories on how to extend the period of wealth creation through as many generations as possible to defer its decline. However, a common, and often integral, strategy among such theories is to effectively structure wealth for the long term.

Bahamian Trusts have long been applied toward this objective. They have also been used to obtain additional privacy, avoid probate at death, obtain tax benefits, consolidate assets and protect assets from future litigation and disputes. Others have used Bahamian Trusts to provide shelter and protection from forced heirship provisions, domestic political strife and instability, and exchange controls in their home counties.

Structuring wealth through an established offshore jurisdiction such as The Bahamas, that has progressive laws, an educated workforce, and reputable financial institutions, can hold particular benefits for families based in or with connections to the United States, Canada, Latin America and Europe.

FINANCIAL POST

noreply@blogger.com (The Out Island Explorer) — Wed, 03 Feb 2010 00:51:00 +0000

FINANCIAL POST Highlight of Excerpt Published: Saturday, April 19, 2008
PARADISE ACRES

A-listers are buying up the Caribbean and Canadian banks are there for them.

The type of person who can afford to drop U.S $20 million on a second home in the Caribbean expects fabulous ocean views, infinity pools, multimedia room’s, tailored detailing such as hand carved stone walls and year round sunshine. They want a vacation home designed by a “starchitect,” built from materials sourced around the world and filled with elegant objets d’art.

But as much as they want the highest of high-end luxury, they want the deal to be conducted discreetly, and they usually need a mortgage.

Selling the properties involves no big marketing campaigns, no advertising, no public relations, no brokers. Yet sales are not a problem. The high-end market is strong in paradise.

After more than 30 years of banking in Toronto, Wayne Kendal moved to the islands a couple of years ago to head Royal Bank of Canada’s real estate group there. His small group of Bankers is servicing “a pent up need” for expensive homes in the region.

The expansion of top of the market vacation clubs, where pools of properties are purchased and then made available to rent, is fueling demand. A number of expensive hotels and resort chains are also expanding in the region. They will often build out private homes, condos or villas on adjacent pieces of land that are sold to help finance the development.

A shortage of high-end vacation home inventory in other parts of the world is also pushing up values in the Caribbean, says Kevin Clark, a senior vice-president with Bank of Novsa Scotia, one of the biggest banks in the Caribbean.

There’s a finite amount of property left in the Caribbean, too, says Mr. Clark. Properties in places such as Papagayo in Costa Rica and Turks and Caicos are selling for as U.S $19 million.

That’s all good news for the banks. Mortgage terms and conditions are similar to that of Canada or the United States. But the bankers and developers are counting on property values in that region to follow a different path than they have recently in the United States. Values in the region are fairly insulated from global trends and investors my prefer to park their money in the region rather than put it into more volatile markets in North America or Europe, the bankers say.

The Villas of Abaco Shores

noreply@blogger.com (The Out Island Explorer) — Tue, 05 May 2009 13:32:00 +0000

One of the places I chose for a short review was The Villas of Abaco Shores, nestled in a paradise one would only dream of if they visited heaven. This community will house numerous affordable villas starting in the area of $289,000 USD and is situated minutes from Treasure Cay Beach, voted by National Geographic Magazine as “One of The World’s Top Ten Beaches.” To describe it best you would have to pick up a Fodor’s Travel Guide. This world renowned travel guide says it best this way…

Running through large pine forests that are still home to wild horses and boars, the wide paved Sherbene A. Booth Highway leads north from Marsh Harbour for 20 miles to Treasure Cay, which is really not an island but a large peninsula connected to Great Abaco by a narrow spit of land.

Treasure Cay is a wonderful small community of mostly winter residents and a 3,000 acre farm that grows vegetables and fruit for export. Imagine being neighbors to a Dick Wilson designed golf course and a 150 slip marina with boat rentals, a dive shop, pool, restaurant and lively bar, a place I frequent often.

This central location makes it a great base for exploring and enjoying the Abacos. Great Guana Cay, Elbow Cay, Man-O-War Cay and Green Turtle Cay are all easily accessible by boat.
Spend your first few nights at the Treasure Cay Resort and you’ll discover that that it is truly a quant picturesque little town with stores, restaurants and shopping. Colorful hummingbirds nest in the shrubs of this magnificent bird sanctuary.

Before I sound too much like an old romantic explorer, I encourage you to check out this paradise they call, The Villas of Abaco Shores and experience it for yourself, family and friends.

By The Out Island Explorer