Friday, Oct 18, 2019
HomeBusinessbah opportunities – china

bah opportunities – china

Most are still 1st genereation entrepreneurs

what they understand is how to keep investing, make more money,

they feel more comforatble looking at concrete projects, that’s how they made money in their own industries

some are now specializing in managing their money rather than running factories,

“but still they have problems trusting an individual advisor with their money because they think they know how to make money”

this will all change gradually. they’ll realise they can make money in their own way, but there may be downside risk that they cannot really hedge against, and there are other ways to preserve the capital.”

more realize asset protection is important.

“Everyone of them of course, is concerned about their next generation–how to transfer wealth, how to make sure it will be preserved after 3 generations.”No estate tax now but draft of law is announced, though not implemented yet.

“So that’s a time bomb for a lot of wealthy people, that why a lot of the pvbs from western financial institutions are looking for them, trying to help them.’

small aspects of what they need … like most hnw/uhnw, need preservation of capital, wealth transfer, estate tax planning, and there is a lifestyle issue.”They need institutions that can actually cater to their lifestyle, their financial needs, and all that.

So everything is only at the beginning stage for this new generation of wealthy people, and before they can really be served, there is a new generation coming, we have a second gen on the way, the younger entrepreneurs are coming”

only small#rich through inheritance.

says death and even insurance is still a taboo(to talk about)so its poorly planned.

you can have a will, and there is a default applicaiton by the law, but that’s it

idea of living trust is not there.

“So just think about it. There is a vacuum. How much you can do.”legal issue trust law is not there yet but it doesnt prevent doing somethign along that line.

already have assets offshore that could be put in structures.

Re taboo,”All you need is a PVB to sit down and talk through the problem. someone you can trust.”

I think first of all, better exchanges and mutual understanding will be very important. The opportuities will just come to you without even really planning for it. All you have to do is get to know each other well, and they will come. they will ask for certain areas of service you may not have planned for, but they will come.”

Now, he thinks some wealthy Chinese heard about Bahamas,but don’t know much about it. don’t know what opportunites might be here. also understanding of china here also needs to be improved.”So through mutual exchanges there will be a lot of opportunities”. mktg&branding bah?

2 if u look at general need for tax planning by Chinese wealth families emigrating to N America, the

re’s a bitg crowd of them but I think they are poorly prepared for tax planning. they have money. they are concerned about their next generation’s education. so they send their kids to N. America and then that’s it. Sometimes the Mom will follow, or then get immigration status, but that’s too late for tax planning.

“So this will be the tax planning home for them”

I see opportunities for people to have permanent residency here, buy property here, but I heard erlier that imigration has certain restrictions on immmigration. Still there is opportunity.

But I think if the country really wants to become a true international centre, there’s a lot that can be learned from Singapore. immigration, attracting talent, building educational hub for people around the world to study

“The Chinese are very keen to send their children to good schools in English. So I think a lot of things can be done.”

Says singapore was not an attraction in this area but now it is, so it’doenst take much time, its the will and commitment

english speaking system here

close to America

High-shcool& College opporunities.

“There could be a lot of investors interested(re Bahamar&Container pOrt)if they know this, They don’t know.”

–prive investors went to dubai, other places, but they don’t know … The 1st step is to exposure”

geo…”well positioned for chinese shipments to other countires in the region. This will be a good place, with a duty free status. Definately

if a hub of distribution of chinese goods from here it would really really be a big deal.

bvi overexposed

cayman used by chinese companies wanting to be listed on nyse

other small islands, bah not recognized place for this(not that well known though the name is there)

BVI over becuase there are so many , govt demanding that BVI firms wanting to have a subsidiary resident in China need to actually volunteer to offer beneficiary information … so easily used for”other peruposes

less known fin centres sometimes treated more leniantly

mktg events

tourism

wealth mgmt instituions

for specific insitiutions its very important to have the personal trust of the Chinese person

the key is to get to know them.

College of bahamas

Chinese parents are really irrational, almost to that level, to invest in their children’s education. So I think it is a good sort of way for the international schools here and for the College to take some Chinese students so they get a better foundation in English and other subjects, being exposed to international life, before they move on to say the US or Canada for further education. to that end it will be very important oft he COB to establish close ties with schools in N A so they can recognize the students here for credit waiver/transfer and a better recruitment process.

–if established can be great place for first stop here

–parents can get condos, kids can continue on.

FOLLOW US ON:
Artists Come Togethe
Dollar concerns spar