THE BEE ALL AND END ALL
The Executive Entities Act, 2011 (the "Act") came into
force in The Bahamas on 1st February 2012. Given the plethora of
wealth structuring vehicles available worldwide, the question of
whether there is a need for yet another entity in the field is
quite understandable.
Practitioners in The Bahamas, working under the auspices of the
Bahamas Financial Services Board, examined a proposal from London
law firm, Lawrence Graham LLP ("LG"), in the context of
several structures already in place and came to the conclusion that
the BEE would serve a useful purpose. LG set about designing the
BEE as a unique solution for carrying out "executive
functions" with input from the working group.
