The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

LEGISLATION for the creation of a “BH-1B visa” is being finalised to boost Grand Bahama’s attraction for relocating technology companies, a Cabinet Minister revealed yesterday.

Kwasi Thompson, minister of state for Grand Bahama, told the island’s Business Outlook conference that the Government is aiming to make the country’s Immigration policy “more attractive” to technology investment.

“We are now finalising draft legislation to create a special visa, known as the BH-1B Visa, in keeping with recommendations made by the Grand Bahama Technology Hub Steering Committee,” he said.

“This would be particularly for companies seeking to relocate their development teams to The Bahamas to retain specialised talent. The committee proposes that through the imminent population growth as a result of this programme, Grand Bahama will see significant economic impact in the areas of housing, national insurance, food, entertainment, education, healthcare and government taxes among other industries.”

The so-called “BH1B Visa”, taking a similar name to the US H-1B visa, was recommended by the Grand Bahama Technology Steering Committee as a key incentive for enticing technology companies to the island since - when paired with the Commercial Enterprises Act - it would facilitate the entry of the skilled workforce they need.

The committee’s January 2018 report, which set out the broad legislative, infrastructure and enabling environment required to establish Grand Bahama as a potential “technology hub”, identified the BH-IB visa’s creation as being among the “immediate opportunities” for The Bahamas.

It was viewed as a way to target US technology companies that are heavily reliant on the H-1B visa workers impacted by Donald Trump’s recent Immigration crackdown. This has been making it difficult for persons to apply for, or renew, these visas, which facilitate the hiring of specialist foreign workers by US companies, and entry of persons with advanced degrees.

Such workers are in high demand among technology companies, and the committee’s thinking was that The Bahamas offers a convenient offshore base in close proximity to the US should such firms have to relocate H-1B personnel or themselves.

“The current cap of H-1B visas in the US represents an opportunity for The Bahamas to attract skilled workers and the companies that want to hire them. This could be a great opportunity to re-locate company teams/divisions to the Bahamas who have H-1B visas that are set to expire soon,” the committee’s report enthused.

However, it immediately noted that Immigration and work permit reforms would be required to facilitate such an effort. The committee suggested that H-1B permit holders “be fast-tracked and receive comparable Bahamas work permits”, provided such applications are sponsored by a company domiciled in this nation.

Mr Thompson, meanwhile, said GIBC Digital, one of the first technology firms attracted to Grand Bahama, will be working with the Government to help build the necessary skilled workforce. “The company will be working with the Government in executing its strategy to provide the opportunities for world class technology training, local entrepreneurship, and expedite direct foreign investment, primarily in the technology sector,” said Mr Thompson.

He added that several technology-related companies have been approved to enter Grand Bahama under the Commercial Enterprises Act. “I-tel BPO, a tech call centre in Grand Bahama, committed last year to training and hiring 100 new employees, and has held three successful training waves, resulting in the onboard of 65 new call centre reps in the last year,” Mr Thompson said.

“The next wave of training on March 1, 2019, will take the employee count to a little over 80 new employees. This, again, providing immediate new job opportunities in the tech sector. Other companies recently approved under the Commercial Enterprise Act on Grand Bahama include GB Biopharma, a company engaged in biomedical services, and DevDigital Bahamas, a Bahamian joint venture web development company.

“Skyward Techno is another company going through the approval process; a computer software company which develops highly advanced business software solutions. Over the next five years, Skyward Techno has revealed plans to create 100 full-time jobs and 180 part-time jobs with a budget of $2m,” he added.

“Agriculture Enterprises Development, a Bahamian joint venture farming company, will engage in a pilot fruit and nut farm producing coconut, castor and palm oil for the local market and for export, and another Bahamian joint venture company, Bahamas Golden Harvest, was approved to establish a chicken hatchery, produce eggs, chicken feed, cash crops and citrus on East End Grand Bahama.”