NIA CHARLESTOWN NEVIS (November 12, 2024)- Premier of Nevis the Honourable Mark Brantley addressed the prestigious 28th Annual President’s Week Conference in Miami Beach, Florida this past weekend, where he highlighted Nevis as a leader in legitimate global investment through International Financial Corporations (IFCs).

The event brought together ultra-high-net worth individuals and leaders in international asset protection and investment.

Premier Brantley, an esteemed guest speaker, presented his insights on the topic of “The Future of Financial Services Centers in a Changing Global Environment”.

During his speech, Premier Brantley highlighted the vital contributions of Caribbean IFCs to the global economy, particularly in the areas of financial services and wealth management. Using data from various Caribbean countries, he emphasized that IFCs in the region significantly support local economies, provide substantial employment opportunities, and enable seamless global investment operations.

“In Nevis this sector contributes roughly 15 percent of annual government revenues and has shown year on year growth of 17 percent since 2022. I have set out some statistics to support the view that this sector is critically important to the Caribbean region, but it would be a mistake to suggest that the critical importance of the sector stops at the borders of the Caribbean. The insurance industry in Bermuda, the mutual funds industry in the Cayman Islands, the banking industry in The Bahamas, the business corporations in the British Virgin Islands (BVI) and in Nevis all support the wider global financial industries.”

The Nevis Premier was among other notable persons speaking at the event including principal organizer Joel Nagel, the managing director of Nagel & Associates LLC based in Pittsburgh, Pennsylvania, and well known television personality Buck Sexton who also co-hosts the Clay Travis and Buck Sexton Radio Show, the most widely listened to radio show in America.

Being a presenter at the conference also provided an opportunity for Premier Brantley to counteract the negative perceptions often associated with IFCs. He outlined the rigorous compliance and anti-money laundering measures Caribbean IFCs uphold, positioning Nevis as a reputable jurisdiction committed to transparency and cooperation with international law enforcement.

Additionally, Premier Brantley spoke passionately about protecting client privacy against unwarranted scrutiny, asserting that Nevis is aligned with the European Court of Justice’s stance on privacy in financial dealings.

“The unfortunate nomenclature of “offshore jurisdictions” is oft used to try to disparage Caribbean IFC’s and to somehow differentiate them from the global financial system. In reality however there is no onshore or offshore. There is only a global financial system comprised of distinct and yet interconnected parts…

“Nevis has taken the quite sensible position that we are committed to the global fight against money laundering and illicit money flows. In that regard, we have entered into extensive mutual exchange of information arrangements and cooperate fully with law enforcement in countries across the world who are investigating financial crime. However, Nevis is at the same time committed to preserving the privacy of persons’ confidential financial information,” he stated, emphasizing that IFCs in the Caribbean contribute to the ease of doing business globally.

Premier Brantley also presented the Citizenship By Investment programme of St. Kitts and Nevis, which has set the standard globally since its inception over 40 years ago. With this well-regulated programme, he said, Nevis remains “open for business” and ready to facilitate reputable and compliant investment flows into the Caribbean.

Reflecting on the potential impacts of a new U.S. administration on IFCs, Premier Brantley expressed optimism that policies favouring trade and development could further enhance the Caribbean’s role in the global financial system.

The Premier invited attendees to consider Nevis as a location for future events, reinforcing the island’s commitment to fostering robust, transparent, and prosperous financial services.