Services

Commercial Transactions

The Bahamas is a premier international financial and banking centre with strong historical and financial connections to many large international financial institutions and commercial undertakings. The firm has had substantial experience as advisors on all Bahamian aspects of commercial cross border transactions, including financings, mergers and acquisitions. We have handled multi-billion-dollar deals, with particular expertise in the finance, electric utilities, telecommunications, hospitality and oil & gas industries.

Our attorneys advise both principals and their financial advisors on the full spectrum of domestic and cross-border public and private mergers and acquisitions deals. Our clients rely on our advice to execute their most complex transactions and the scope of our offering includes:

syndicated loan agreements
swap agreements
International Swap Dealers Association agreements
International Foreign Exchange agreements
Re-invoicing agreements
Bond issues
Security interests
Credit transactions
Joint ventures
Reorganizations and restructurings
Tender offers
Share purchase agreements

The firm’s experience and capacity to provide timely and exemplary service are buttressed by its well-established relationships with leading law firms in New York, London and other international commercial centres. Our clients include leading multinationals and other corporations, major commercial and investment banks and private equity funds.

Our association with global networks Terralex and Andersen Global facilitates the depth and breadth support we give our clients in both their domestic deals and their most complex multi-jurisdictional transactions.

Company Formation & Management

Company formation in The Bahamas is carried out by H&J Corporate Services Ltd. An affiliate of White & partners Legal Chambers, this entity is a licensed financial and corporate services provider regulated by the Securities Commission of The Bahamas.

The services include:

company incorporations, /registrations/continuations in and out
registered agent/registered offices services
nominee and shareholder services
directorships and company management
mailbox service, opening of bank/brokerage accounts, record-keeping services
business (and other) license services, business name registration and renewal, property tax/service charge record keeping, advice and implementation in respect of structural transactions/commercial

transactions (including consolidations and mergers)
mutual fund structures and licensing
advice and implementation in respect of work permit requirements
company liquidation

For more information, visit hjcorporate.com.

Financial Services, Insurance Law & Regulation

Regulatory compliance is a critical to any financial services firm in today’s environment. Remaining compliant is challenging given constant changes to the principles of risk management and regulatory compliance, internationally and in The Bahamas.

Our Financial Services Law & Regulation Practice Group has extensive experience in anti-money laundering and regulation and advises local and international banks, trust companies and securities firms operating within and/or from The Bahamas on the laws and regulations governing the financial services industry.

We are able to draw on our wealth of experience to offer prompt and clear advice to help our clients determine how best to maintain compliance in an increasingly complex and dynamic regulatory environment.

We are able to assist applicants for licenses or registration to operate under various financial services related regimes, as well as to advise existing licensees and registrants through regulatory issues that might arise. We are also able to assist financial service firms with satisfying the regulatory requirements relative to anti-money-laundering and counter financing of terrorism, including:

the development and assessment of anti-money laundering and compliance systems
the conduct of mock regulatory inspections and anti-money-laundering health checks
anti-money-laundering training
consultation on KYC and due diligence best practices (e.g. the handling of non-compliant relationships)
the provision of KYC information verification services (e.g. non-compliant/high risk clients)
suspicious transactions reporting
compliance with production and/or freeze orders issued by the Financial Intelligence Unit or the Courts of The Bahamas

Government & Regulatory Affairs

White & partners Legal Chambers recognises that successful businesses need a partner to manage government relations that could directly impact the start-up, daily operations and long-range outlook of their operations. Our Firm’s Government and Regulatory Affairs Practice Group is that partner.

Our Government and Regulatory Practice Group understands the often-confusing layers of local legislation and regulation, and have the knowledge, experience and relationships to guide clients through the local legislative and regulatory regime successfully and efficiently.

This Practice Group comprises attorneys with a vast array of experience who have acted on behalf of micro, small, medium, large and multi-national companies in various sectors including resort development, residential subdivision development, the energy sector, financial services, healthcare, manufacturing, and technology industries, as well as government entities.

We routinely provide representation to clients in all forms of corporate, legislative and regulatory matters, including:
- Drafting legislation and advising clients on pending legislation that may affect their interests;
- Advising on compliance with all laws and regulations;
- Monitoring, analyzing and responding to proposed administrative rules and regulations;
- Advising clients on the various tax incentive programmes; and
- Lobbying regulatory agencies and other organisations regarding clients’ interests.

Insolvency & Corporate Restructuring

White & partners Legal Chambers Insolvency and Corporate Restructuring practice has a distinguished track record of acting in large and complex cross-border insolvencies. Our diverse client base comprises secured and unsecured creditors, including international financial institutions, insolvency practitioners, corporate debtors encompassing shipping conglomerates and publicly listed companies in onshore jurisdictions, trustees, directors, shareholders, and investors.

We have acted in some of the most significant insolvencies before the courts of The Bahamas and have earned a reputation for delivering result-oriented solutions to our clients. Furthermore, the group is led by seasoned partners equipped with the necessary expertise to navigate the intricate aspects of a distressed scenario.

Our experienced team regularly advises on creditors’ rights, the best solutions for recovering creditor debt in insolvency matters, and the powers and duties of liquidators and receivers.

The Firm has acted as counsel to secured and unsecured creditors, debtor companies, liquidators, receivers, and managers in numerous insolvencies supervised by the Supreme Court of the Commonwealth of The Bahamas.
Our lawyers handle insolvency cases that involve:
- Individual Bankruptcy
- Contentious Liquidations
- Non-Contentious Liquidations
- Corporate Restructuring

Intellectual Property

Our Intellectual Property group focuses on the regulation, exercise and protection of rights in respect of trademarks, patents and copyrights. The group also provides legal advice and support in relation to franchising arrangements.

Litigation

The firm’s dynamic civil and commercial litigation team is one of the largest specialist litigation teams in The Bahamas. Grounded by its solid commercial acumen, many of our attorneys are cross-trained and dual-qualified in the UK, the U.S.A., and the Caribbean. Team members are regularly engaged in a broad spectrum of international litigation and have built a strong and extensive practice in cross-border disputes.

Commercial Litigation

The Group has been involved in some of past decade’s most notable international cases, including the BCCI and Grupo Torras cases. The firm was also instructed by the liquidators of Oracle Fund Limited (in liquidation) – a Bahamian Mutual Fund in liquidation – and represented the Fund in litigation against Fortis (the Fund Administrator) and the former directors of the Fund, who settled the claim at the steps of the courthouse.

Trust Litigation

The firm regularly advises on all facets of trust law:

representing individuals and fiduciaries (private and institutional) in trust and estate litigation, including claims of breach of trust, allegations of incompetence and undue influence, claims of creditors against estates, claims of heirs, legatees, and charities to distribution of certain assets from estates and trust and will construction
advising international and local institutional clients in the creation of trusts, ancillary trust documentation drafting, administration and management of Bahamian trusts.

Banking

Our practice includes contentious banking, finance, fraud, and regulatory matters, and we have acted in complex financial disputes for blue-chip banking clients globally and locally. Group members have conducted cases relating to commercial loans, asset finance, letters of credit, security, insolvency, fraud, asset recovery, anti-money laundering, capital markets, financial regulation, and bank payments.

Asset Recovery

Our Asset Recovery team has been skilled in recapturing hundreds of millions of dollars on behalf of our clients, which typically include corporations, financial institutions (including banks and trusts companies), and private individuals. We continue to be successful in offering first class, results-oriented service to locate and recover assets lost due to misappropriation, negligence or fraud.

Labour & Employment

The Firm has extensive experience in all aspects of labour and employment relations law and has advised leading Bahamian corporations concerning matters involving:

recognition of unions
negotiation and administration of collective bargaining agreements
trade disputes
strike management, corporate closings and acquisitions
pensions and employee welfare benefit schemes

The Firm has acted as counsel in trade disputes before the Industrial Tribunal, the Supreme Court and the Court of Appeal. We also have substantial experience in preparing employment contracts and reviewing personnel policy manuals and practices.

Maritime & Aviation

The Bahamas is one of the world’s largest shipping registries and a clear leader in tonnage of passenger ships. The firm has acted in the registration and financing of much of the tonnage presently on the Bahamian Registry and works with leading shipping firms throughout the world to provide timely, efficient and cost-effective service to ship-owners and ship mortgagees.

Our attorneys represent a diverse range of global clients serving the maritime industry, including major international cruise lines; maritime-related investors and financial institutions; ocean shipping company groups; ports, terminals and port/terminal operators; carrier-terminal management groups; and ocean transportation intermediaries. In addition, the group services clients in closely related fields including finance, insurance, and agency.

The group has extensive experience in maritime corporate, finance and regulatory matters including asset-backed ship finance, leasing transactions and other custom-tailored financings valued in the millions of dollars. We advise on maritime and logistics contracts and offer ongoing counsel on restructuring as well as in mergers and acquisitions involving foreign and domestic maritime-related assets. We also provide advice on vessel sale and purchase matters.

The Aviation arm of this group advises on a variety of matters concerned with the aviation needs of aircraft owners, major international airlines, financial institutions providing aircraft financing, export credit agency lenders and aircraft leasing and management companies.

Attorneys within this practice area are involved in a wide range of aviation related activity including supporting and coordinating local aspects of airline operations, providing advice on best structures for aircraft ownership based on the requirements of financing parties and providing opinions on companies’ participation in finance lease structures. We aim to provide seamless service to the aviation clients with onshore and offshore requirements and to be in the position to assist clients with all of their aviation needs.

Our attorneys are able to counsel clients in connection with:

the acquisition, licensing and registration of aircraft
registration of aircraft mortgages and charges
the use of corporate structures in multi-jurisdictional transactions to facilitate aircraft
leasing and financing consistent with the requirements of Western and Middle Eastern financial institutions and investors
preparation and registration of security documents
liaising with civil aviation authorities in The Bahamas

Attorneys within the practice group recently contributed to the new and expanded Global Aviation Resource Index (GARI). GARI is an online tool which both scores and allows users to compare aircraft related repossession rights, deregistration rights and restructuring procedures in 100 jurisdictions around the world.

Private Client & Wealth Management

We have a wealth of experience in offshore and onshore trusts and are well versed in trust litigation. Having played an integral role in the amendment and updating of such legislation, including the abolition of the rule against perpetuities. We are counsel to many leading Trust Companies in The Bahamas, advising in a broad range of trust matters from the preparation of complex private trusts for high net worth individuals and businesses to intricate matters of trust administration.

We are accustomed to liaising and working with offshore legal advisors to ensure tax efficient trust structures and have substantial experience in Asset Protection Trusts.

The Firm provides a full range of services and, to this end, the Trust and Litigation groups work together on contentious or potentially contentious matters to provide a comprehensive service. These services include advice on and drafting of:

fiduciary structures, including fixed or discretionary trusts (testamentary or inter vivos)
variation and rectification of trusts

Foundations

White & partners Legal Chambers is an industry leader in Purpose Trusts and Foundations. The firm has assisted in the formation of numerous foundations and played an instrumental role in the drafting of Amendments to the Foundations Act.

Private Trust Companies

The main purpose of a PTC is to act as trustee of a specific trust or, in some cases, a group of trusts.

PTCs can provide families with a greater level of control over trust administration.
PTCs may appeal to persons desiring to add an extra layer of confidentiality regarding their financial affairs.
PTCs can also lower the potential legal exposure of the professional trustee and even solve any trustee succession issues as PTCs have the advantage of perpetual life and can serve as trustee indefinitely.

PTCs are not ideal for every client but can offer significant advantages for high net worth individuals seeking trust services. A partner of the firm served as a consultant and played an active role in the drafting process of PTC legislation, adopted in December 2006 to enhance the range of financial services offered in The Bahamas.

Wills & Probate

White & partners Legal Chambers has helped numerous high net worth individuals, business owners, professionals, and retirees and their families carefully prepare estate or trust documentation to make sure that even the most complex personal and family needs are met.

Additionally, the firm has probated or administered thousands of estates, where the deceased was resident inside or outside of The Bahamas. A partner was much involved in the production of the Probate and Administration of Estates Act, 2011, which governs non-contentious probate proceedings.

The services include:

preparation and execution of wills and codicils
applications for probate and letters of administration
resealing of foreign wills
contentious probate applications
estate planning and administration

Immigration

Services include:

applications for citizenship and residence
work permit applications
renewals

Real Estate & Development

Our extensive experience in commercial and residential real estate and project finance including all aspects related to sale and acquisition of hotels, marinas, luxury residences and private islands throughout The Bahamas; and acquisitions of commercial property, islands and cays for the development of mixed use resorts and marinas and cruise ship islands, the establishment of commercial time-share/fractional complexes and other substantial commercial properties.

At the other end of the spectrum, we serve a steady stream of individuals in the lease, sale, purchase and mortgage of:- residences, second homes and private islands, condominium units, time-shares and other commercial property developments.

We facilitate foreign direct investment and advise clients on and facilitate the procurement of regulatory approvals (including Hotel Encouragement Act and Light Industry Agreements) from the National Economic Council, Bahamas Investments Board, the Central Bank of The Bahamas and other relevant governmental bodies.

Other services include, the relevant applications to the Department of Physical Planning for approvals under the Planning and Subdivision Act; filings with the Real Property Tax Department and exemption applications with the Department of Inland Revenue; and residency applications to the Department of Immigration for home-owners.

Securities, Investment Funds & Fintech

The Securities, Investment Funds & Fintech Practice Group offers clients a wide range of services in relation to investment funds, securities, capital markets, digital assets and financial products.

These include providing legal advice with respect to:

the application of Bahamian law and regulatory requirements to cross border securities activities;
the enforceability of netting and collateral arrangements under various industry agreements and related documents;
the offering of securities by issuers in The Bahamas;
securitizations;
the requirements for the registration of offering documents with the relevant regulator;
the requirements for the licensing and regulation of entities wishing to conduct broker-dealer services or investment management services in or from within The Bahamas; and
the process for setting up an investment fund regulated by the laws of The Bahamas.

With respect to investment funds, the firm’s attorneys provide advice in relation to:

the underlying fund structure and the establishment of the investment fund vehicle (corporation, partnership, investment condominium or trust);
the requirements to set up the investment fund, including the drafting of the memorandum and articles of association or other constitutive documents; and
the preparation of the offering document and the material contracts of the investment fund.

The team’s extensive knowledge and hands-on experience in the financial services industry facilitates strategic legal solutions necessary for fintech clients to maintain a presence with evolving platforms, technologies and services in this space. We work closely with clients on legislative and regulatory issues with respect to financial services and payment systems. This group draws on their capabilities in mergers and acquisitions, corporate finance, financial regulation and enforcement to adequately counsel businesses across the spectrum of the fintech industry.

Additionally, our knowledgeable and experienced attorneys assist clients with the preparation and filing of regulatory applications and compliance documents and counsel clients on the ongoing regulatory requirements for investment funds and the parties related to investment funds as well as in respect of the ongoing regulatory requirements for public issuers, broker-dealers and other securities intermediaries.

The chair of this practice group is a member of the Project Team appointed by the Securities Commission of The Bahamas to draft the new Investment Funds legislation.

Tax

As offshore jurisdictions like The Bahamas continue their transition from no-tax jurisdictions to low-tax jurisdictions, it has become exponentially more important for businesses to obtain expert tax advice during the planning of their business operations and negotiation of transactions to minimize their tax exposure and maximize tax benefits and opportunities.

White & partners Legal Chambers Tax Group offers expert legal advice and representation to meet all our clients’ tax-related needs. Our team of experts represents clients in all aspects of tax law, including with respect to the following:

Advising large multinational enterprise groups on the applicability of Pillar Two legislation in The Bahamas to their operations;
Advising clients on the tax implications of their business activities in The Bahamas;
Guiding clients through mergers, acquisitions, joint ventures, and reorganisations and advising on the tax implications of the contemplated transactions;

Representing clients in all stages of tax disputes with the tax authority, including audits, objections, negotiating settlements, and prosecuting appeals;
Advising clients on international tax matters, including compliance with Tax Information Exchange Agreements (TIEAs), FATCA, CRS, and Multinational Reporting requirements.

Our Tax Practice Group also provides advice regarding obtaining advance tax rulings and other guidance from the Department of Inland Revenue.

Through our local tax experts and our global collaborations, we can help our clients confidently navigate the ever-changing and increasingly complex tax environment.