As everyone knows, this week marked the first annual Chazen International Week an effort between the Business School and the School of International Public Affairs to inform students of international business issues. Mr. Bethel spoke on issues ranging from the challenges involved in starting a securities firm in the Bahamas, to issues addressing the allegations of money laundering and drug-trafficking through the Bahamas. Below we highlight some of the more interesting points of the speech.
Interested individuals can borrow a recording of the session from the library.
Emerging Entrepreneur of the Year Award spoke on the changing landscape of the financial services scene in the Bahamas. With the creation of MSI, Mr. Bethel offered investors an avenue for money and asset management, in addition to estate planning in the offshore arena services that could provide much greater returns on assets. Mr. Bethel spoke to the two main reasons that individuals would open offshore accounts namely tax advantages and confidentiality laws that protect the identity of account holders. Thus, it was advantageous for individuals to attempt to obtain citizenship or residency in the Bahamas for these reasons. Until recently, the identity of those involved in such actions were held confidential by Bahamian law.