BISX

Summary: The Bahamas International Securities Exchange, (also known as BISX) is attempting to use recognition from Great Britain's tax authority as a launch pad to both attract new UK business/fund listings and a similar status with other countries, the development proving there are beneficial spin-offs from signing Tax Information Exchange Agreements, (also know as TIEA).

Keith Davies, BISX's chief executive explained that this status would allow certain securities and investments to obtain many tax-related exemptions from the UK by virtue of listing on BISX as a recognised stock exchange, a feature that could prove very attractive in gaining new business for the Bahamian exchange.

BISX planned to go out and market it, and let people know that we have this designation, Mr. Davies states that,"It's excellent news when you get this type of recognition. It's a validation of things that you're doing. It indicates you're on the right track and of international standard. It's also important for the jurisdiction; let's make that clear."

The BISX chief executive explained that obtaining the HMRC designation has taken a while, the exchange having approached the UK government's chief customs and tax authority over the issue in early/mid-2009. One of the initial issues was the absence of a TIEA between the UK and the Bahamas


My opinion: I honestly do not really understand what exactly is going on, but by the looks of it the Bahamas is on a verge of discovering something that will effect them for the better. Having the Bahamas improving their systems would be a very good thing. I think Bahamas is on the rise.

link: http://www.tribune242.com/business/05252010_BISX_business_Page1-3