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Doing Business in the Caribbean

To own a home or to do business from the Caribbean is a lifestyle often dreamed of. Most people imagine a stress-free environment in idyllic temperatures with exotic drinks and even cigars being part of the daily routine. They imagine getting away from the hustle and bustle of modern city and or even modern suburban life and being able to work literally from the beach. I can give testimony to the fact that that lifestyle is possible and real, except for the stress-free part. Because in achieving that dream there are many avoidable pitfalls.

Another thing I can give testimony to is it’s only part of the story. Moving to and living in the Caribbean can be fraught with problems unless you have the proper guidance. In fact, it can be very frustrating. Like anywhere else if you don’t engage the right professionals to assist you, it’s possible to be taken for a long and expensive unproductive ride. Although they may seem like unchartered waters, there are others who have successfully built lives here and prospered from their investments here.

One classic example is the famous resident that recently died here in the Bahamas after living here for many years. Perhaps you have heard of Sean Connery, who my Mother in Law would say was the James Bond. He fell in love with the islands and made his home in one of their gated communities Lyford Cay. I must say I only met him one time at a bar that my father frequented in the west. He seemed very friendly and approachable and had obviously taken to the Island life because this was a bar frequented by locals and the occasional tourist. Sean Connery got the best of the islands because he had friends who acclimated him to the culture. And that is what we would like for each and every person that attempts to become a part of the business community. Not just profits for their company but also an improvement in your personal and company lifestyle.

The Bahamian economic lifestyle has a history to it. When one thinks of the Bahamas one often thinks about pirates. Maybe less known is that in the Bahamas we had a history of what we called wrecking. Ships loaded with goods and sometimes even gold would travel from Latin America through the Bahamas. Our islands are surrounded by treacherous reefs. Wrecking consisted of allowing ships to be ship-wrecked amongst the reefs. Then salvaging the goods found on the ship. This was the law of the sea, and as I understand it an attempt would be made to save lives AFTER the ship was wrecked. Amazingly enough this was a regulated industry. Wrecking declined in part due to more qualified ships officers, better charts and more lighthouses.

Thus, our symbol for the Caribbean Investment Guru is a lighthouse. Because investing in the islands can still be a nightmare navigating the regulations and the various industry stakeholders. It is still possible to have your hard-earned dollars shipwrecked if you as an investor run aground of the modern reefs that exist in the legal, government agencies, and the business ecosystems. But it is my passion and mission to ensure that you come to safe and prosperous harbor. 

Indeed, investing and living in the Caribbean can be very rewarding. There are great real estate deals here that can make life idyllic. I am often asked by my friends from around the world what’s it like to move and live here.  After all the Caribbean is among the worlds most desirable vacation spots. What’s more amazing is that the new economy has made it possible for people to live either the entire year or part of the year here while still able to maintain their lifestyle.  With technology you can even work from this environment. Making that dream a reality is something that is possible with someone to guide you through.

Each country in the Caribbean has its own special charm. And in a country like the Bahamas which is made up of several islands each Island is unique. Kind of like country life versus city life versus suburban life in the states. So it begins with your personality. One of the beautiful things is that you can even carve out and create your own environment because there are so many development possibilities.

Each country also has its own residency requirements related to being able to stay and work. These have been changed and expanded due to Covid-19. And arguably this is the best time ever to own property and housing in the Caribbean because of the many challenges the world is facing during Covid-19. Countries have actively begun to look at their process and make the acquisition of property and assets easier because they need to attract American dollars into their economy.


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