Bahamas Target Asia's Wealth Economy
by Mike Godfrey, Lowtax.net, Washington
27 August, 2015
The Bahamas Ministry of Financial Services and the Bahamas Financial Services Board (BFSB) are stepping up their marketing efforts in Asia, targeting high net worth individuals.
The China Offshore Summit event series, which comprises two events annually, is intended to update Chinese financial intermediaries on the use of tax planning and asset management tools available in low-tax jurisdictions. With an average of more than 500 guests per event, the China Offshore Summit provides a premium platform for information exchange, business development, and education for Chinese intermediaries in this burgeoning market.
The upcoming promotion includes a schedule of four events in four cities, starting with a Bahamas Landfall event in Beijing in October, followed by a second Landfall event in Hong Kong in November. The Bahamas team then travels to Singapore for STEP Asia. To complement the events, the Ministry and BFSB have engaged local expertise in scheduling one-on-one meetings in each of the cities, targeting financial services intermediaries such as tax advisers and wealth management managers. Sponsoring agencies will have their own contacts for private meetings as well.
Hope Strachan, Minister of Financial Services, said: "This Summit provides an opportunity to sensitize China's High Net Worth Individuals and institutional investors about The Bahamas and its reputation as a world class international financial center."
Aliya Allen, BFSB CEO, said: "The relaxation of China's regulatory regime for outbound investment augurs well for the business development opportunities this huge market represents for The Bahamas."
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