NASSAU, Bahamas — Chair of the National Ease of Doing Business Committee (EODB) Lynn Holowesko said the committee is very pleased with many of the policies introduced in the 2019/2020 budget aimed at improving the business climate in the country, particularly surrounding immigration, conveyance valuations and estate planning, the Nassau Guardian reported August 15.
Earlier this year, Holowesko had said the committee was disappointed that the government had not enacted more of its recommendations.
Holowesko said since its inception in 2017, the committee has been meeting on an almost weekly basis and had made quite a number of recommendations to the government. Some were accepted, but she said there were also quite a number of recommendations that were not initially accepted and have now been accepted.
“We’ve recommended over a long period of time that transfers from an individual’s company to the same individual’s company where there is no change in beneficial ownership at all, we asked for that to be exempted and that has been exempted. The estate planning, too, among close family members has been implemented in this year’s budget as well. There is a period, a “lock-up”, of seven years but aside from that we are very happy to see the government accept that recommendation, because in particular there are parents who want to have their kids get started in a business and the transfer of a piece of land which they can mortgage and then start a business with is very helpful to a lot of people,” she said in a recent interview with Guardian Business. https://thenassauguardian.com/2019/08/15/ease-of-doing-business-committee-satisfied-with-improvements/
