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Bahamas Plans Promotional Trips To Asia, Latin America

by Mike Godfrey, Lowtax.net, Washington
18 June, 2014

The Bahamas Financial Services Board (BFSB) is to attend five promotional events between August and October, in China, Singapore, and Latin America.

Its first engagement, the China Offshore Summit, is intended to educate Chinese financial intermediaries on the tax planning and asset management offerings of the Bahamas. The event typically draws 500 attendees.

BFSB's CEO, Aliya Allen, said: "China's burgeoning number of HNWIs, and its investment groups and corporations requiring an ever increasing need for sophisticated international wealth, tax, and asset planning services is a business opportunity that just can't be ignored. But it will require the same kind of persistent effort that has led to our success in Latin America."

The Bahamas has also used these engagements to make headway in tapping the Brazilian market, not only in the financial services sphere, but in ship registration. The first event that representatives from the Bahamas attended to promote the territory was in Brazil in 2010, and it has since returned twice. It has also promoted its offerings at two events in London, and one in Hong Kong, Geneva, Zurich, Toronto, Calgary, and Miami. With the events scheduled over the next few months, BFSB will have undertaken 16 promotional trips in less than five years.

"No two events are the same," Allen said. "Information is tailored to the specific needs and levels of awareness to the audiences attending [these] events. We also use [this] platform to introduce new products or services as will be the case in Brazil in August, where we will launch a new investment fund product that has been designed specifically with the Brazilian market in mind."

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