The Bahamas Financial Services Board (BFSB) continues to make a strong case for The Bahamas in Asia, using its participation in two major conferences to promote the country's wealth management advantages. BFSB CEO and Executive Director Aliya Allen was in Hong Kong for the three-day STEP Asia Conference 2012, which wrapped up on October 17 and will then be in Shanghai on October 24 and 25 for the China Offshore Summit 2012, where she will be part of a panel discussing international financial centers.
"Every macro-economic view agrees that Asia-Pacific's growth story is remarkable," said Allen. "With the natural linkages and relationships created by the investment by China in The Bahamas, now is an opportune time to really push the advantages of The Bahamas for planning for Chinese families, inbound and outbound investments, international business and residency. In 2011 the Asia-Pacific high net worth individual population became the largest in the world and in our view The Bahamas is ideally placed to serve them."
The STEP Asia Conference, which brought together more than 40 speakers from around the world, covered the wide range of issues and considerations associated with doing business in the People's Republic of China, with a strong focus on trust and fiduciary services. While STEP attracts primarily lawyers specializing in trust and estate services, the two-day China Offshore Summit gathers China's leading financial intermediaries in an in-depth and exclusive discussion forum with bankers, lawyers, offshore professionals, representatives from trust companies and corporate service providers.
Speakers will discuss the many opportunities and key challenges surrounding China's future growth, and the development of investment, trade and wealth management sectors. China's fruitful business landscape will also be analyzed, and participants will have an opportunity to expand business relations as well as benefit from transparent conversation with relevant contacts regarding future market trends.
"China has a strong demand for global expertise to help manage its growing wealth," said Allen. "The Bahamas has the talent, resources and financial structures to compete for and meet the wealth management needs of the Asian market. Participating in conferences and other business development initiatives targeting this market are crucially important to establish and reinforce The Bahamas' capabilities and advantages."
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