I have a Brain Teaser that I can 99.9% GUARANTEE none of you can solve, but just incase any of you can prove me wrong, I will post it below to give you that opportunity.......





Please Scroll Down































Arrh Way Down!!!!!!














































Okay, here it is:

A) DOES AN INDIVIDUAL HAVE TO BE A BAHAMIAN CITIZEN OR HAVE PERMANENT RESIDENCY IN ORDER TO OPERATE/RUN A BUSINESS IN THE BAHAMAS?


B) IS THERE ANY BUSINESS THAT A BAHAMIAN CITIZEN OR A FOREIGN BORN INDIVIDUAL WHO HAS BAHAMIAN RESIDENCY CANNOT OPERATE IN THE BAHAMAS?


C) ARE THEIR ANY BUSINESSES IN THE BAHAMAS THAT CAN BE RUN BY AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO HAS BAHAMIAN RESIDENCY?


D) IS THERE ANY BAHAMIAN OFFICIAL WHO CAN MAKE EXCEPTIONS TO ALLOW AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO DOES NOT HAVE BAHAMIAN RESIDENCY TO OPERATE A BUSINESS IN THE BAHAMAS?


Oh, Lawyers are also included in this too, there is no monopoly on who can solve this Brain Teaser.........

I wonder if any one can answer these.....:bouncy:

Well the ansa to B is, CASINOS for one, perhaps others, but my knowledge is limited to that.

Well the ansa to B is, CASINOS for one, perhaps others, but my knowledge is limited to that.


Cool, I did not even think of Casino, nice one, anyone else who can answer every question all together????

Cool, I did not even think of Casino, nice one, anyone else who can answer every question all together????

i can't answer them all.....but i think a)'s answer is.........legally, yes.

i can't answer them all.....but i think a)'s answer is.........legally, yes.




Thanks for your attempt, Cool G, naw dont run over all a dem Union Leaders Dem like speed bumps in ya car naw ya hear.........lololol

I have a Brain Teaser that I can 99.9% GUARANTEE none of you can solve, but just incase any of you can prove me wrong, I will post it below to give you that opportunity.......
Please Scroll Down
Arrh Way Down!!!!!!
Okay, here it is:
A) DOES AN INDIVIDUAL HAVE TO BE A BAHAMIAN CITIZEN OR HAVE PERMANENT RESIDENCY IN ORDER TO OPERATE/RUN A BUSINESS IN THE BAHAMAS?
B) IS THERE ANY BUSINESS THAT A BAHAMIAN CITIZEN OR A FOREIGN BORN INDIVIDUAL WHO HAS BAHAMIAN RESIDENCY CANNOT OPERATE IN THE BAHAMAS?
C) ARE THEIR ANY BUSINESSES IN THE BAHAMAS THAT CAN BE RUN BY AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO HAS BAHAMIAN RESIDENCY?
D) IS THERE ANY BAHAMIAN OFFICIAL WHO CAN MAKE EXCEPTIONS TO ALLOW AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO DOES NOT HAVE BAHAMIAN RESIDENCY TO OPERATE A BUSINESS IN THE BAHAMAS?
Oh, Lawyers are also included in this too, there is no monopoly on who can solve this Brain Teaser.........
I wonder if any one can answer these.....:bouncy:
:hammer:I can, I can!:hammer:

Yes to all!! Dis da Bahamas--- limitless possibilities w/ da rite incentives (u een say legally, right?)

I have a Brain Teaser that I can 99.9% GUARANTEE none of you can solve, but just incase any of you can prove me wrong, I will post it below to give you that opportunity.......
Please Scroll Down
Arrh Way Down!!!!!!
Okay, here it is:
A) DOES AN INDIVIDUAL HAVE TO BE A BAHAMIAN CITIZEN OR HAVE PERMANENT RESIDENCY IN ORDER TO OPERATE/RUN A BUSINESS IN THE BAHAMAS?
B) IS THERE ANY BUSINESS THAT A BAHAMIAN CITIZEN OR A FOREIGN BORN INDIVIDUAL WHO HAS BAHAMIAN RESIDENCY CANNOT OPERATE IN THE BAHAMAS?
C) ARE THEIR ANY BUSINESSES IN THE BAHAMAS THAT CAN BE RUN BY AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO HAS BAHAMIAN RESIDENCY?
D) IS THERE ANY BAHAMIAN OFFICIAL WHO CAN MAKE EXCEPTIONS TO ALLOW AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO DOES NOT HAVE BAHAMIAN RESIDENCY TO OPERATE A BUSINESS IN THE BAHAMAS?
Oh, Lawyers are also included in this too, there is no monopoly on who can solve this Brain Teaser.........
I wonder if any one can answer these.....:bouncy:

Grocery Stores are one. That's why Fidelity had to work out the City Market sale because foreigners are not allowed to own the majority of a grocery chain.

A) DOES AN INDIVIDUAL HAVE TO BE A BAHAMIAN CITIZEN OR HAVE PERMANENT RESIDENCY IN ORDER TO OPERATE/RUN A BUSINESS IN THE BAHAMAS?

No.

Filing Fees:

Domestic Company:
- $1,000 if less than 60% beneficially owned by Bahamians
- $350, if more than 60% beneficially owned by Bahamians

Foreign Company: $1,000

A foreign company is any incorporated or unincorporated body formed under the laws of a country outside the Bahamas. In order to be incorporated in the Bahamas, the foreign company must file a statement in the approved form, setting out the following:

- the name of the company, the jurisdiction in which it was incorporated, and the date of its incorporation;
- the manner in which it was incorporated, the particulars of its corporate instruments and period, if any, fixed by those documents for the duration of the company;
- the extent to which the liability of the shareholders or members is limited;
- the undertaking the company will carry on in the Bahamas;
- the date the company intends to commence any of its undertakings in the Bahamas;
- the authorized, subscribed, and paid up or stated capital of the company, the shares that the company is authorized to issue, and the nominal par value of those shares, if any;
- the full addresses of the principal offices of the company in and outside the Bahamas;
- the full names, addresses, and occupations of the directors of the company.

This statement must be accompanied by the following documents:

- a statutory declaration by at least one director of the company, verifying the particulars in the statement;
- a certified copy of the corporate instruments;
- a power of attorney.



B) IS THERE ANY BUSINESS THAT A BAHAMIAN CITIZEN OR A FOREIGN BORN INDIVIDUAL WHO HAS BAHAMIAN RESIDENCY CANNOT OPERATE IN THE BAHAMAS?


No -- provided that regulatory criterion is met (Central Bank, licences, permits, etc)


C) ARE THEIR ANY BUSINESSES IN THE BAHAMAS THAT CAN BE RUN BY AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO HAS BAHAMIAN RESIDENCY?


Yes, except the businesses reserved for Bahamians (Motor car repair, nails salon, grocery store, travel agency, restaurants (except specialty restaurants), etc


D) IS THERE ANY BAHAMIAN OFFICIAL WHO CAN MAKE EXCEPTIONS TO ALLOW AN INDIVIDUAL WHO IS NOT A BAHAMIAN CITIZEN OR WHO DOES NOT HAVE BAHAMIAN RESIDENCY TO OPERATE A BUSINESS IN THE BAHAMAS?



Cabinet Minister can make an exemption, and it has to be gazetted.


[COLOR="Green"]Oh, Lawyers are also included in this too, there is no monopoly on who can solve this Brain Teaser.........
I wonder if any one can answer these.....:bouncy:



One must be called to the Bahamian bar to operate as a lawyer. However Canesfin operates an American law firm here, and he is not called to the Bahamian bar yet, but I believe that he is in the process of being certified.

:hammer:I can, I can!:hammer:
Yes to all!! Dis da Bahamas--- limitless possibilities w/ da rite incentives (u een say legally, right?)


Legally Smarty Pants....lolol

Grocery Stores are one. That's why Fidelity had to work out the City Market sale because foreigners are not allowed to own the majority of a grocery chain.


Interesting, so does Fidelity owns a portion of City Market?

I never knew that one before, infact is this the case with other business which the majority of control cannot be owned by foreigners apart from Grocery Stores?

[/COLOR]
No.
Filing Fees:
Domestic Company:
- $1,000 if less than 60% beneficially owned by Bahamians
- $350, if more than 60% beneficially owned by Bahamians
Foreign Company: $1,000
A foreign company is any incorporated or unincorporated body formed under the laws of a country outside the Bahamas. In order to be incorporated in the Bahamas, the foreign company must file a statement in the approved form, setting out the following:
- the name of the company, the jurisdiction in which it was incorporated, and the date of its incorporation;
- the manner in which it was incorporated, the particulars of its corporate instruments and period, if any, fixed by those documents for the duration of the company;
- the extent to which the liability of the shareholders or members is limited;
- the undertaking the company will carry on in the Bahamas;
- the date the company intends to commence any of its undertakings in the Bahamas;
- the authorized, subscribed, and paid up or stated capital of the company, the shares that the company is authorized to issue, and the nominal par value of those shares, if any;
- the full addresses of the principal offices of the company in and outside the Bahamas;
- the full names, addresses, and occupations of the directors of the company.
This statement must be accompanied by the following documents:
- a statutory declaration by at least one director of the company, verifying the particulars in the statement;
- a certified copy of the corporate instruments;
- a power of attorney.
[/COLOR]
No -- provided that regulatory criterion is met (Central Bank, licences, permits, etc)
[/COLOR]
Yes, except the businesses reserved for Bahamians (Motor car repair, nails salon, grocery store, travel agency, restaurants (except specialty restaurants), etc
[/COLOR]
Cabinet Minister can make an exemption, and it has to be gazetted.
One must be called to the Bahamian bar to operate as a lawyer. However Canesfin operates an American law firm here, and he is not called to the Bahamian bar yet, but I believe that he is in the process of being certified.






Excellent Response Lurker, very thorough and detailed as I hope for, the only question I have is if Real Estate is included with the others mentioned (Motor car repair, nails salon, grocery store, travel agency, restaurants (except specialty restaurants) I guess because of Turnberry operating at the Reef Atlantis?

But other than that, any feed back from anyone in regards to Lurkers response or does anyone disagree with Lurker. If not then Lurker, based on your response, Case Closed for Me.


Thanks for your response Lurker and as the old sayin goes "Ya Learn Something New Everyday":hammer:

Excellent Response Lurker, very thorough and detailed as I hope for, the only question I have is if Real Estate is included with the others mentioned (Motor car repair, nails salon, grocery store, travel agency, restaurants (except specialty restaurants) I guess because of Turnberry operating at the Reef Atlantis?
But other than that, any feed back from anyone in regards to Lurkers response or does anyone disagree with Lurker. If not then Lurker, based on your response, Case Closed for Me.
Thanks for your response Lurker and as the old sayin goes "Ya Learn Something New Everyday":hammer:


Technically, real estate is included. However, one does not need a real estate agent to sell. I could advertise a Bahamas lot in a Miami newspaper and sell it.

However what pisses me off, is that Ginn and most developers use their own real estate sales force to pump and dump the lots on Bahamian soil. This is just plain wrong, yet tolerated.

Technically, real estate is included. However, one does not need a real estate agent to sell. I could advertise a Bahamas lot in a Miami newspaper and sell it.
However what pisses me off, is that Ginn and most developers use their own real estate sales force to pump and dump the lots on Bahamian soil. This is just plain wrong, yet tolerated.


Speaking of that, whats going on with Albany, are they still going ahead with it anyone?