NASSAU, Bahamas — Bahamas-based multi-family office, which plans to double its workforce by launching a new business and investment fund, says this nation must avoid the “rogue country” label at all costs, The Tribune reported April 1.
Brendan Dunn, chief executive of Holdun Family Office, told Tribune Business that The Bahamas can ill-afford to be “blacklisted” given that such status would ultimately result in the likes of the European Union (EU) and OECD “doing everything in their power to weaken” the financial services industry.
Backing the measures taken by the Government to escape the EU’s tax “blacklist”, Mr Dunn nevertheless cautioned that this nation needed to adopt rules and regulations “that make sense for The Bahamas” while still meeting international best practices so that it did not comply away its competitive advantages.
Voicing optimism over The Bahamas’ future prospects, Mr Dunn confirmed that the Albany Financial Centre-based business is gearing up for expansion that will double local staff numbers to around nine to ten within the next three-six months.
He revealed that the fifth generation multi-family office, which manages wealth for other families as well as his own, plans to launch a new Bahamas-based company named Holt Financial within the next month to two months. http://www.tribune242.com/news/2019/apr/01/financial-provider-set-trigger-expansion/
