If there was ever an opportunity to own a piece of our top industry, now is the time. So... Kerzner is selling 40million dollars worth of shares in the Bahamian Stock market. I believe this will open on June 14. I for one believe that this will be a good stock. Kerzner is a promising company with a lucrative future ahead. Aside from the current expansion on Paradise Island, Kerzner is also planning an Atlantis type project in Dubai. It is anticipated that these shares will perform similarly to its share in the NYSE. (visit nyse.com to view the info on kerzner stock). This opportunity should not be missed. I believe these stock will hold at a respectably value and will return healthy dividends.

btw- Is there an age limit to who can buy and own shares here?

lol...i had a feeling that you would add that final sentence. i think that investing in kerzner intl would be a worth while venture but i'm thinking about the fiscal risks that a business based on the tourism industry would facilitate. forget about it, i need some green :)

I think that the minimum investment age is either 18 or 21, but how much are these shares selling for because if they sell for the amounts that I'm thinking about, I don't many people who will be able to afford them. I am dying to see the prospectus.

And, can Bahamians can invest in UK/Canadian shares? :dgi:

Sure, anyone in the world can invest in them.

Do you buy them here? I thought that brokerage firms here only traded stocks on the BISX? :dgi:

Not realy sure, but as far as I know you buy them with brokerage firms elsewhere, there are however a lot of traders living in the Bahamas and they do it right from here. You can set up an account with an online firm, or contact one in the US.

Ill find out some more info and get back to you on this.

Rory

Yes Rory, you can check to make sure, but I think our authorities still have that dumb law on the books whereby Bahamians are not allowed to invest in foreign company shares. But with this Atlantis share offer maybe that law will be rescinded or something put in place to work around it.

As I understand it, and I stand to be corrected, Bahamians will be able to buy the shares as these shares are not traded in the US. These are special shares for the Bahamas market. In fact each share is 1/10 of a US share. Also, it does not, at this time, offer a dividend.

Is this a good investment? Well, if you like the idea of having a bit Atlantis, or you plan to buy a lot of shares in the hope that in the future they maybe worth something then yes, it is a good investment. If you are looking for income then no, it is not.

Someone, in the know, please correct me if I am in error.

I was thinking again, if that is a law, who makes these laws, $300,000 fine for VOIP, can't invest in shares outside of the bahamas ... what is going on.

This sounds like someone, whoever makes 'these' so called laws, doesnt have a clue, and only wants one thing, to keep the general portion of the bahamians poor, with these laws in effect, it would mean someone wants to keep us in some sought of economic prison. And only they can give us the right to do what they want, in other words, if these are indeed laws, then we are not living in anyway, a free country, moreso a communist state, or at least leaning closer anc closer towards becoming one.

Rory

I might be wrong here Rory. Maybe someone in the "know" can put me right. But it has been my understanding that the laws against Bahamians owning stock in other countries, or moving their money freely, goes back to Colonial times. It was feared that if Bahamians were allowed to move their money, they would! There would be a "Financial Flight"of cash out of these islands leaving these Island :rip: (dead!)

If the restrictions were lifted today, would there be a "Financial Flight?" There might well be a small to moderate one, but I think we could withstand it.

Sadly, if this law was lifted, there probably would be a migration of funds, as many in the country are forever concerned with the valuation of the Bahamian dollar. However, what annoys me with the Kerzner offering, is that it seems that temporary workers may also have access to purchasing the shares. Why should foreigners be allowed to buy into something that should be strictly reserved for Bahamians? They can invest, gain from the growth appreciation of the stock, and pick up and leave, taking the gains with them when they go. How do they except for money to circulate in the country?

Also, maybe someone in immigration law can help out here with this question:

When people from other countries renounce their citizenship to come to the Bahamas, are they also mandated to invest only in the Bahamas, or are they allowed to keep the foreign stuff (i.e. stocks and bonds) that they already have?

I was thinking again, if that is a law, who makes these laws, $300,000 fine for VOIP, can't invest in shares outside of the bahamas ... what is going on?

Rory

Speaking of the VoIP situation, a Caribbean company called Imagine is advertising the internet telephone service here in the Bahamas. How could BTC allow this to happen if it's so illegal? If this was a Bahamian company, the government would be all over them, right? :what: