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The Association of International Banks and Trust Companies of The Bahamas (AIBT) has announced Founding Sponsorship of The Nassau Conference, which takes place February 7 and 8, 2005.

The Bahamas is a part of the British Commonwealth and your IBC (International Business Company) can be incorporated in an economically and politically stable country, where income, capital gains, inheritance and transaction tax is not imposed for a period of 20 years from the date of incorporation.

Minister Maynard-Gibson addressed a "Special Programme for Intermediaries in Nassau" (SPIN) earlier this week. This first SPIN for the year 2005, targeting the private wealth management sector, was hosted by the Bahamas Financial Services Board (BFSB) in collaboration with the Association of International Banks & Trust Companies in the Bahamas (AIBT).

Since 2001, international organisations such as FATF have pressured offshore financial centres like the Bahamas to pass legislation to increase transparency within our financial services sector.

The new Securities Industry Act, 2011 (the "New Act") was passed in the House of Assembly on 18 April 2011 and was approved by the Senate.