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Industry perspective on TCI BLACKLISTING 

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By Dana Malcolm 

Staff Writer 

 

 

#TurksandCaicos, March 31, 2023 – ‘Basically, an administration issue’ is what landed TCI on the EUs Blacklist, a local corporate service provider in the TCI industry for over 10 years tells us as she explains the situation from their point of view, the people whose clients stand to lose hundreds of thousands.

“We really put the pedal to the metal, but it wasn’t enough,” she explained.  The provider who elected to remain anonymous, told Magnetic Media that the TCI had not completed to the EUs Satisfaction, the number of filings to satisfy the economic substance filing requirement based on the number of companies actually filed with the TCI companies registry.

The list is not completely accurate, she explains, which is a part of the problem; one that the FSC is trying to fix.  The Government has also been slow with implementing their own necessary portals.

“The exchange of information office with Henry Saunders as its director was supposed to be up and running with their online portal, to show people how to file and they were not up and running until a week or so before the deadline.”

This forced companies to submit their filings by email or even hardcopy.  This in and of itself was reasonable, but not fast or thorough enough for the EU.

“As far as an industry we were filling, we were doing it, but the EU wants to have it on a particular format which is what this online system was supposed to provide but that system was not available in good time.”

Aside from the Government’s system not being up in time, it crashed from overuse when it was ready.  The Government missed the time frame they had committed to, to correct the issue but the issue is dwarfed by the reaction.

Only one tax deficiency was attached to the Turks and Caicos in the EU document. It said the TCI “Does not ensure the effective monitoring of company obligations regarding substance requirements in the jurisdiction.”   The same was said for The Bahamas and yet both are listed as non-cooperative jurisdictions along with the Russian Federation and other counties.

Her explanation confirms what E Jay Saunders, Deputy Premier and Finance Minister explained as a frustrating overreaction on the part of the European Union.

“We felt it was an unfair thing to do for them to Blacklist us considering they know the challenges,” she said.  “As an industry we were really putting in to make sure these filings were done, and people were compliant and some of these are very detailed.  We really tried.”

As for how it might affect the TCI she said,

“There are some savvy investors that know how these things go and they’re not phased but there are some who see this as a big red flag and may not move forward with investments.”

That red flag will be gone soon according to Saunders, who has committed to getting the country in right standing along with top financial consultant company Kroll, by next year.

Bahamas News

Halkitis: Don’t Expect 90 Percent Turnout for 2026 Vote

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The Bahamas, May 29, 2026 – As debate continues over voter participation in the 2026 General Election in The Bahamas, Finance Minister Michael Halkitis is urging Bahamians to adjust their expectations, suggesting the days of 90 percent voter turnout may be behind us.

Speaking to the Nassau Guardian in its analysis of official election results, Halkitis said he believes voter participation is settling into a new reality, with turnout more likely to remain in the 60 and 70 percent range than return to the lofty levels seen decades ago.

His comments come as newly released Parliamentary Registration Department figures reveal that 69,021 registered voters did not cast ballots in the May 12 election — roughly one-third of all eligible voters.

The data paints a striking picture across several New Providence constituencies.

In Bain Town, turnout fell from 60 percent in 2021 to 55 percent in 2026, with 2,018 registered voters staying home. St. Barnabas recorded the same 55 percent turnout, down from 63 percent in 2021, with 2,165 registered voters not voting.

Centreville also saw participation decline, slipping from 62 percent in 2021 to 59 percent this year. According to the figures, 1,978 registered voters did not cast ballots.

In Englerston, turnout dropped from 61 percent in 2021 to 57 percent in 2026, with 2,028 registered voters choosing not to vote.

By contrast, Nassau Guardian reporting showed constituencies such as Killarney remained among the country’s stronger performers for voter participation, highlighting a widening gap in electoral engagement between communities.

Halkitis pointed to the permanent voter register as one possible factor. Prior to the introduction of the permanent register, voters had to actively register before each election, effectively signaling their intention to participate.

He also noted that residents frequently move between constituencies such as Englerston, Centreville, Bain Town and St. Barnabas without transferring their registration.

“The last thing on your mind is going to transfer,” Halkitis told the Nassau Guardian.

But the minister acknowledged a deeper concern may be voter apathy.

“I think nationally, we’re probably going to be in the 60s and 70s and not so much in the 90s,” he said.

Halkitis suggested stubborn concerns over the cost of living, housing affordability, healthcare and security may be contributing to voter disengagement, particularly in communities facing economic challenges.

Former Minister of State for Finance and economist Zhivargo Laing offered a similar assessment. Speaking to the Nassau Guardian, Laing said disappointment may hit hardest in less prosperous communities where residents are already struggling with economic and social challenges.

The figures underscore a growing question for Bahamian democracy: if voter turnout in some constituencies is now hovering in the mid-50 percent range, is the country witnessing a temporary dip in participation — or the emergence of a new electoral normal?

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas News

Davis Unveils One Of The Largest Cabinets in Modern Bahamian History

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The Bahamas, May 22, 2026 – Just days after securing a commanding re-election victory, Prime Minister Philip Davis has unveiled what appears to be one of the largest Cabinets in modern Bahamian political history — fueling debate over government spending, parliamentary independence and the concentration of executive power.

The new administration now includes 29 members of Cabinet, counting the Prime Minister himself, following the swearing in of 21 Cabinet Ministers and eight Ministers of State.

The appointments come after the Progressive Liberal Party secured 33 seats in the country’s expanded 41-seat Parliament.

Critics are already pointing to the math.

Had all Cabinet appointees been selected strictly from elected Members of Parliament, only four PLP MPs would have remained outside government. Instead, several Senate appointments were used to fill ministerial posts, slightly widening the governing bench but still leaving a comparatively slim independent backbench on the government side of the House.

That reality matters constitutionally and politically because Cabinet Ministers are members of the Executive branch and are bound by collective responsibility and confidentiality rules once sworn into office.

In Westminster parliamentary systems like The Bahamas, backbench MPs traditionally provide an additional layer of scrutiny, debate and independent thought — even within the governing party.

Some observers now question whether a Cabinet of this size reduces the room for dissent or independent legislative oversight inside government ranks.

Others are raising concerns about costs at a time when Bahamians continue facing affordability pressures, rising utility bills and broader economic uncertainty.

The expansion also follows recent changes to constituency boundaries which increased the House of Assembly from 39 to 41 seats — meaning additional MPs, additional parliamentary costs and now a larger executive structure.

Historically, Bahamian Cabinets have fluctuated in size depending on administrations and political strategy, but governments traditionally operated with significantly smaller executive teams than the one now assembled.

The Davis administration, however, argues the country’s development agenda requires expanded leadership portfolios and specialized oversight.

Among the changes are re-engineered ministries and at least one newly created portfolio.

The full Cabinet includes:

Senior Leadership

  • Hon. Philip Edward “Brave” Davis — Prime Minister
  • Hon. Isaac Chester Cooper — Deputy Prime Minister & Minister of Education

Cabinet Ministers

  • Hon. Michael Halkatis — Finance
  • Hon. Wayne Munroe — Attorney General & Legal Affairs
  • Hon. Frederick Mitchell — Foreign Affairs
  • Hon. Glenys Hanna-Martin — Tourism
  • Hon. Michael Darville — Health
  • Hon. Clay Sweeting — Works & Family Island Affairs
  • Hon. Keith Bell — Housing & Land Reform
  • Hon. Jo-Beth Coleby-Davis — Energy, Utility & Aviation
  • Hon. Ginger Moxey — Grand Bahama
  • Hon. Mario Bowleg — Youth & Sports
  • Hon. Jomo Campbell — Agriculture & Marine Resources
  • Hon. Pia Glover-Rolle — Labour, Public Service & National Insurance
  • Hon. Zane Lightbourne — Environment & Natural Resources
  • Hon. Myles Laroda — National Security
  • Hon. Leon Lundy — Transport
  • Hon. Lisa Tammy Rahming — Urban Renewal & Community Relations
  • Hon. Leslia Miller-Brice — Culture, Arts & Heritage
  • Hon. Jerome Fitzgerald — Economic Affairs
  • Hon. Barbara Cartwright — Social Services
  • Hon. Sebastian Bastian — Innovation & National Development

Ministers of State

  • Hon. Omar Rolle — Social Services
  • Hon. Wayde Watson — Innovation & National Development
  • Hon. Leonardo Lightbourne — Agriculture & Marine Resources
  • Hon. Kirk Cornish — Office of the Prime Minister
  • Hon. McKell Bonaby — Office of the Prime Minister
  • Hon. Darren Pickstock — Immigration / Foreign Affairs
  • Hon. Owen Wells — Health & Wellness

The appointments are expected to shape the PLP’s second consecutive term, making the Davis administration the first Bahamian government in nearly 30 years to secure back-to-back election victories.

But the size of the executive team is likely to remain part of the national conversation — particularly as Bahamians await details on government spending priorities, ministerial budgets and the overall cost of governance under the new administration.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Caribbean News

Browne Wins Fourth Term in Antigua & Barbuda Landslide

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Antigua & Barbuda, May 4, 2026 – Prime Minister Gaston Browne has secured a historic fourth consecutive term in office, leading the Antigua and Barbuda Labour Party to a commanding victory in the country’s snap general election held April 30, 2026.

Preliminary results show Browne’s party capturing 15 of the 17 seats in Parliament, tightening its grip on power and dramatically weakening the opposition.

The main opposition United Progressive Party was reduced to just one seat, held by its leader, while the Barbuda People’s Movement retained its single constituency in Barbuda.

The result marks a major political turnaround for Browne, whose party had won a much narrower 9–7 majority in the 2023 election before rebuilding support through defections and by-elections.

Voter turnout figures vary in early reports, with initial estimates indicating participation of around 35.8 percent, or roughly 22,700 voters out of more than 63,000 registered. However, broader election data suggests overall turnout may have exceeded 60 percent, reflecting steady engagement despite political tensions.

The election, called nearly two years ahead of schedule, was shaped by concerns over the cost of living, global economic pressures and fallout from U.S. visa restrictions linked to the country’s citizenship-by-investment programme.

Despite those issues, Browne campaigned on economic stability and continued development, pointing to a strong tourism recovery and ongoing infrastructure expansion.

The decisive victory now strengthens his mandate, but also raises questions about the future of the opposition, which faces internal challenges after significant losses at the polls.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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