New Bahamas entities guide launched for wealth managers
The International Protector Group has announced that a comprehensive guide to the recently announced Bahamas Executive Entity will be available to wealth management professionals.
The new BEE Binder will have key information to help wealth management specialists make decisions for their clients on the options and solutions that are available through the BEE. The Bahamas Executive Entity Act is a permanent entity, designed to carry out executive duties, but is barred from holding any value other than what is needed to pay for its administration.
Andrew Law, CEO of IPG said: “We have produced the guide to help industry practitioners stay abreast of developments in the field and explore how the new Bahamas Executive Entity can resolve many issues that wealth management advisors are called upon to address when assisting their clients.”
Simon Beck, partner at international law firm, Baker & McKenzie, was positive in his comments about the BEE Binder: “This new guide provides useful information to help industry practitioners to deepen their understanding of how the Act operates, and to develop the skills and knowledge necessary to advise on the powers of an Executive Entity, its structure, governance, and succession.”
The guide contains a detailed subject listing, covering the features and benefits of the BEE, a fact sheet and details of the Act itself. A recent survey of trust specialists found that 83% of respondents believed that the newly launched Bahamas Executive Entity would be an important tool in international estate and estate planning structures.