NIA CHARLESTOWN NEVIS – Premier of Nevis, Hon. Mark Brantley will lead a delegation to the 9th Annual Private Wealth Latin America & the Caribbean Forum where members of his team will promote the products and services being offered in the Financial Services Sector on the island of Nevis.
The Forum will be held in Miami, Florida from November 2 to 3, 2022. According to the organizers, the event “brings together allocators of high-net-worth capital from the state, including leading private banks, wealth managers and family offices. The event is a one-day networking and peer education platform. The meeting’s program covers asset allocation, trust and estate planning, family governance, risk management and alternative asset classes”.
Premier Brantley, Minister responsible for Finance and Economic Planning in the Nevis Island Administration (NIA), said the Forum provides an opportunity for local stakeholder representatives to market the offerings of Nevis’ Financial Services Sector to high-net-worth individuals and entities. Delegates from Nevis will host four sessions during the Forum, including a roundtable discussion on “Nevis: The Undiscovered Possibilities”, and a panel discussion focused on exploring offshore jurisdiction choices for Latin America.
“It will be the very first time in quite some time that the Nevis Financial Services Sector will be sponsoring and highlighting the services and products offered in Nevis on the road. I’ve given the team very clear instructions that they must find other avenues and other opportunities for us to advertise the products and services that the island of Nevis has to offer in the Financial Services Sector…so we are now utilizing all of the avenues available to us, and all of the agencies including the Nevis Investment Promotion Agency, the Ministry of Finance, our regulation and supervision department, and of course the Office of the Premier, we are seeking to bring the good news to the world of the products and services that are offered in Nevis.
“We feel that having spent some time re-tooling and ensuring that we adhere to and, in most cases, surpass the regulatory standards that have been set internationally, that we have excellent products and it is now time to re-emerge on the global stage with a massive promotion effort,” he said.
Emphasizing that Nevis is a well-regulated jurisdiction which complies with or surpasses international standards with respect to its Financial Services Sector, the Premier said the island has some of the best and most cross-cutting products available “that will be appealing to high-net-worth individuals, and products that will be appealing to those in the world who see value in using jurisdictions such as ours to order their business and personal affairs”.
The Financial Services Sector generates between ten to fifteen million dollars in revenue per year to the Nevis economy. The NIA therefore is actively seeking to grow this critically important sector in a significant way, Premier Brantley said, so that it can become a major contributor to the economy of the island of Nevis.
“We continue to make efforts as a government to regulate effectively and to expand this industry in such a way that our people can benefit through jobs, the rental of property and various assets, but also through the provision of much-needed revenue for the treasury and government of the island of Nevis.”
As the Nevis government forges ahead with its economic diversification agenda, the Financial Services Sector is one avenue that has been identified to help move the island from a mono-cultural economy- namely Tourism.
“We feel that Financial Services plays a critical part of that diversification, and we feel that the island of Nevis has positioned itself through reputation and through all the years of experience to be in a position now to move this sector to the next level, and we want ensure that the people of Nevis get the benefits of this very important sector,” said Hon. Brantley.