09232025 BUSINESS

Gov’t ‘using public purse’ to secure general election

By NEIL HARTNELL Tribune Business Editor

nhartnell@tribunemedia.net

THE Bahamas Public Services Union’s (BPSU) president last night accused the Government of “trying to use the public purse” to win the upcoming general election via the latest civil service pay rises.

Kimsley Ferguson, whose union represents thousands of public sector workers, voiced misgivings to Tribune Business about how the public service salary review was handled as he complained about the failure to consult and involve both the BPSU and other

trade unions whose members are impacted.

Disclosing that his members are asking questions that himself and other BPSU executives are unable to answer, due to their exclusion from the process, he

Second vessel is seized on ‘illegal charter fishing’

By FAY SIMMONS Tribune Business Reporter

A SECOND boat and its crew have been arrested for illegal commercial fishing and charter operations following an undercover multi-agency law enforcement operation in the Berry Islands.

Jomo Campbell, minister of agriculture and marine resources, said the covert operation, named ‘Red Dawn 2’, was launched from September 18–19 and resulted in the seizure of a vessel and associated equipment, along with three persons. The case has now been referred to the Office of the Director of Public Prosecutions for further legal proceedings.

“This operation was launched to address the persistent problem of unlicensed foreign fishing charters operating illegally

in Bahamian waters. Such activities undermine the licensed Bahamian operators, deprive the Government of critical revenue, and are threatening longterm sustainability of our marine resources,” said Mr Campbell.

“The Bahamas fisheries sector is a cornerstone of our economy, generating hundreds of millions of

By NEIL HARTNELL

THE three-strong arbitration panel that will decide Freeport’s fate has retired to determine its verdict on whether the Grand Bahama Port Authority (GBPA) owes the Government some $357m. Tribune Business understands that the panel, chaired by Sir Anthony Smellie KC, former chief justice of the Cayman Islands, and the two UK law lords - Lord Neuberger of Abbotsbury and Dame Elizabeth Gloster - have

given no timeline for when a decision will be released after the two-week arbitration proceedings finished in Nassau last Friday, September 19. Given the amount of material and documents, some dating from the 1950s and 1960s, that they have to analyse, along with witness statements, trial transcripts and other evidence, it is thought possible that a decision may not be handed down before year-end and the outcome not determined until the 2026 New Year.

also expressed concern about how the salary increases are being implemented - especially the “retroactivity” for lower-ranking civil servants.

The Government, in announcing the completion of the public

‘Leverage

sector salary review, said workers who had nor participated in previous increases - line-staff level employees - would receive a minimum of two salary increments in their December pay period made retroactive to September 1, 2025.

However, Mr Ferguson told this newspaper that many of these workers had already spent this money, or borrowed against it for expenses such as their children’s ‘back-to-school’ needs, in anticipation that it would be received this month - not be delayed for three months until December, albeit made retroactive. He added that persons in this situation now “find themselves in a hole’. Besides the retroactive payments, the BPSU chief also questioned the “equality” of the increases and their timing as he pointed to gaps between what permanent secretaries and senior civil servants have received; the awards to so-called “middle management” civil servants; and now line staff workers. Support

Trump visa fee hikes for Bahamian technology hub’

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net

THE Bahamas was yesterday urged to seize the “great opportunity” created by Donald Trump’s massive visa fee hikes for foreign workers and spark its long-held ambitions to become a technology hub.

Local technology executives told Tribune Business that this nation must “leverage” the fall-out caused by the US president’s decision to hike the application fee for H-1B visas - the permits that skilled foreign workers must possess to live and work legally in the US - more than 60 times’ their previous level to $100,000 per person.

With multiple companies, ranging from the very largest to small start-ups, now scrambling to adjust

to the sudden fee hike and its impact on their ability to afford specialist foreign labour, they added that The Bahamas’ close proximity and attractive ‘sun, sand, sea’ lifestyle features can prove attractive for firms seeking to relocate or “offshore” key staff just outside the US Keith A. Roye II, Plato Alpha’s chief operating officer and a Tribune Business columnist, told this newspaper that The

Bahamas “can definitely leverage” Mr Trump’s decision to attract technology companies and their foreign staff to “set up shop here” and, in so doing, revive ambitions that have existed since at least 2018 to transform this nation into a technology hub.

Pointing out that companies re-domiciling to The Bahamas will still be able to export their services to the US and other

countries, he added that their presence - and that of their staff - will increase economic activity and spending throughout this nation’s economy, leading to the creation of jobs in other industries and increased tax and fee revenue for the Government.

“Absolutely 100 percent we should look at it. We can look at that to facilitate this whole technology hub scenario that we’ve been trying to grow here,” Mr Roye added. “It will be good to have more

‘Bearing fruit’: Agriculture in fastest growth for 33 years

By FAY SIMMONS Tribune Business

Reporter jsimmons@ tribunemedia.net

BAHAMIAN agricul-

ture was yesterday said to have grown at its fastest pace in more than three decades through expanding by 26.3 percent over the past year.

Jomo Campbell, minister of agriculture and marine resources, credited targeted initiatives for the surge - particularly efforts to attract youth and women into agriculture. He said the Government is preparing to launch another youth-focused initiative connected to programmes offered by the Bahamas Agriculture and Marine Science Institute (BAMSI).

“[Many] of our projects are being geared towards attracting younger persons. Agriculture, for quite some time, has been an aging industry with an average age of about 65 to 66 years [for farmers].

And we’re also seeking to encourage women in farming as well, and the population of female farmers has increased significantly,” said Mr Campbell.

“We’re also pleased to share with you that the overall growth of the industry has grown by 26.3 percent. That is the largest growth in the last 33 years. And so our efforts are literally bearing fruit, and in a few short weeks you will see one of the other initiatives that we have aimed towards ensuring the increasing excitement and awareness towards agriculture.”

Mr Campbell said his ministry is rebranding agriculture for a new Bahamian generation by breaking stereotypes and integrating technology into the farming experience. He said young people are being introduced to science-based projects that demonstrate the use of laptops, smart

ACTIVIST CALLS FOR REFERENDUM ON SPACEX BOOSTER LANDINGS

By ANNELIA NIXON

BAHAMIANS should have been consulted before Elon Musk's SpaceX was permitted to stage booster recovery operations in Bahamian waters, an environmental activist argued yesterday.

With SpaceX seeking to resume booster recovery operations with 19 projected landings in The Bahamas, Joseph Darville, Save the Bays chairman, said: “If something like that was to ever be considered, it should be based upon a referendum of the people of The Bahamas.

“Every iota of the ocean within The Bahamas is significant - from the deep blue tongue of the ocean to the shallows, to the banks, to whatever there is under the shallow water into the deep water. These particular aspects are of significant importance, and I cannot condone any government - whether it's going to be FNM or PLP - to sell us out

to that extent without the proper permission coming from the people who live in these islands, and who can declare whether they want it subject it to devastation from debris from outer space or any type of hazards for that particular matter.

“So I stand by what I said from the very beginning," Dr Darville added. "I find it reprehensible that this discussion could have begun with SpaceX without any knowledge of the people. And, in fact, I heard about it incidentally, and then only after I put a message out there... So that's no way to deal with a sovereign nation, a sovereign people. It is reprehensible. "It is almost demonic, because these islands belong to the people. We need to preserve them. We're losing them anyway to climate change, sea level rise, and so it is upon us... and if we're going to be led by a government, we need that our government to be sensitised to the fact that we do not own this territory. We are custodians

of it to pass it on to future generations. And everything should be done within our power to safeguard the sanctity of the air, the water and the land in our territory.”

While an Environmental Impact Assessment (EIA) was released stating that “the environmental impacts of the Falcon 9 booster recovery are minimal”, Mr Darville argued: "That is not sufficient for my wellbeing and for the young people, in particular, that I represent in terms of the preserving the waters and the lands for future generations.”

“Where has this decision come from?" he asked. “What exact examination has been done. I mean, I want to have confidence in the environmental department (DEPP), but I want to know whether or not they are under any pressure, whether it be the Government or SpaceX, to have this done....

“I mean, I like to trust the powers that be, but I find it very intriguing that all of the environmentalists in

this country weren't called together along with the environmental department to have a convocation in this regard to know exactly what they're talking about, and what is going to be inherent in these particular bits and pieces that may land in our water, on our land," he continued.

"That should not have been done by a select committee or small group of people. I respect all the people in authority, and they know that I do, but I have serious apprehensions when we are being persuaded. And only when we made a lot of noise after the first incident were we able to find out that this thing was under discussion from way back, and we knew nothing about it.

"So you don't treat the sovereign nation, people, the inhabitants of my country, like that. And I stand by my word, because I know how significant the waters and the land are to our future generations. We got to preserve something so that our children, grandchildren, great grandchildren

BAMSI'S CURRENT AND FIRST CHAIRS TALK FOOD SECURITY

THE Bahamas Agricultural and Marine Science Institute's (BAMSI) Board chief has met its firstever chairman to explore new strategies for achieving food security in The Bahamas.

can live in peace and harmony on land and seas in this country.”

Casuarina McKinneyLambert, executive director of The Bahamas Reef Environment Educational Foundation (BREEF), added: “After the February 18 landing in the Exuma Sound, The Bahamas Government suspended all SpaceX booster landings in Bahamian waters in April 2025, pending environmental assessment and investigation.

"However, there have been numerous landings within the Bahamian EEZ since then. For the May 1, 2025, Starlink 6-75 mission, the booster landed on drone ship 'Just Read the Instructions' stationed in the Atlantic Ocean within 150 miles of the east coast of Eleuthera.”

One Exuma business is also concerned about the potential negative impacts the SpaceX booster landings may have on the ocean.

Lyndon Johnson, owner of Fifty Shades Excursions, said the February 18

landing did not boost sales at his business.

But Reginald Wood, management consultant for the Exuma Palms Resort, said the landing intrigued guests. In terms of the environment, he said he is not worried, placing faith in SpaceX.

“If you follow Elon Musk and his endeavours, and this counts as one of his business endeavors, he operates on a higher level than average,” Mr Wood said. “He aims for perfection. And his end products, although they may not be perfect, or I guess nothing is perfect, they may not be number one at the initial roll-out, but he doesn't quit.

"He's on a continuous drive of improvement. That being said, every product that he has produced has been world class. So when someone says, 'I think it'll be bad for the environment', then the question that I am urged to ask is 'If you don't mind, can you help me out? Can you give me an example?'”

Valentino Munroe, its present executive chairman, met with Dr Godfrey Eneas, now chairman of the Bahamas Centre for Food and Nutrition Security. The discussions were described as both fruitful and forward-looking. The duo placed strong emphasis on how research, innovation and partnerships can strengthen the nation’s food systems and reduce The Bahamas’ heavy dependence on food imports — a matter the Government has identified as a high priority. Dr Eneas also presented Mr Munroe with a signed copy of his book, Agriculture in The Bahamas: Its Historical Development 1492–2012. Also present at the meeting were Dr Raveenia Roberts-Hanna, president of BAMSI, Carl Smith, Leslie Minns and Shomekhan Cargill, who lent their expertise to the exchange of ideas.

“Food security is not the task of one leader or one institution,” Mr Munroe said. “It is a shared responsibility that requires us to learn from the past, act decisively in the present and prepare for the future.”

DPM addresses Abaco Business Outlook event

CHESTER Cooper, deputy prime minister and minister of tourism, investments and aviation, addressed the Abaco Business Outlook conference held at the Abaco Beach Resort, Marsh Harbour, last week.

He praised Abaco for its initiative and resilience which, since Hurricane Dorian, has led to encouraging signs of economic growth within an island chain popular among the boating community.

Also speaking were: Pia Glover-Rolle, minister of labour and the public service, and Senator Randy Rolle, executive chairman of the Consumer Protection Commission.

Photos:Kemuel Stubbs/BIS

Civil service wages to rise $184m over just five years

staff, whose incremental value is $37.50, would be in line to receive a $75 per month rise with two increments.

The Davis administration, though, defended its actions by asserting that it had delivered the first “comprehensive salary review”, and accompanying public service-wide pay rises, in 14 years while accusing its successors of neglecting of shying away from the issue.

Pointing out that civil servants have enjoyed annual “incremental salary increases” since 2022, in a bid to ease cost of living pressures, it added that the salary review’s “complex” nature meant it took longer to complete than anticipated. As a result, the salary increases for junior services will only appear in December 2025, but the Government asserted that “no one loses a dollar” due to the retroactivity.

But, despite the financial benefits for his members through increased takehome pay, Mr Ferguson said the Government had “not been forthcoming” when the BPSU and other public sector unions pressed for details on the salary review. And he voiced suspicions that the timing of the increase is linked to the upcoming general election which must be held by September 2026. “We were not involved at all,” the BPSU president said of the salary review. “That was our issue initially because, whether or not it’s positively impacting our members, we should be part of the effort. We’re very, very disappointed and it comes across to us that the Government is trying to cause our members to view unions as irrelevant.”

Mr Ferguson said he and other BPSU executives met with Prime Minister Phillip Davis KC two to three weeks ago to discuss the

salary review. He added that they requested copies of the review, and any supporting studies and documents, and asserted that Mr Davis said Michael Halkitis, minister of economic affairs, who was also present for the meeting, would ensure they were provided.

However, Mr Ferguson alleged that Mr Halkitis and Simon Wilson, the Ministry of Finance’s financial secretary, were “not forthcoming with any information” when himself and Belinda Wilson, the Bahamas Union of Teachers (BUT) president, and their respective executives met with them following the encounter with Mr Davis.

Due to the lack of information provided, Mr Ferguson said the BPSU is now “receiving concerns and calls from members of the bargaining unit and we cannot tell them anything because we don’t know. That’s a poor position for the union to be in”.

“Regardless that the Gov-

ernment made the decision to do it, there should have been more dialogue, more consultation,” he added. “There wouldn’t have been this catastrophe. There are persons who are middle managers who have said they have not received anything. It has not been well thought-out.

“In our view, every time you try and leave unions out you’re going to have a problem. In my view, it appears that the Government is trying to use the public purse to retain another fiveyear term and it’s doing a miserable job of it.”

The Government’s 20252026 Budget forecasts show that civil service wages and salaries, excluding allowances, social contributions (National Insurance Board payments), and travel and subsistence, are projected to rise by 25 percent or $183.773m over the fiveyear period between the 2023-2024 and 2027-2028 fiscal years. The jump is from $735.96m in 2023-2024 to $919.734m in 2027-2028.

A large part of this increase is almost certainly as a result of the latest public sector pay rises. The Government is justifying them on the basis of closing the gap with private sector salary rates, thus ensuring it stands a better chance of retaining its best and brightest workers, and ensuring improved morale and productivity among staff who serve the Bahamian public.

Over the five years detailed in the 2025-2026 Budget, for the most part civil service wages and salaries increase by between $32m and close to $40m on a year-over-year or annual basis. The biggest leap, though, comes between 2025-2026 and 2026-2027, when the civil service payroll is forecast to jump by more than $74m.

One financial source, speaking on condition of anonymity, said these numbers - combined with the Government’s decision to delay the increase for junior civil services to December, while making them retroactive - appeared to be an attempt to delay the full impact of the wage hikes until 2026-2027 and after the upcoming general election.

The latest round of pay increases will only take effect at the year’s half-way mark, and the source said: “The Government is baking in a lot of expenditure. It’s adding in a lot of expenditure that it’s going to have difficulty sustaining if the economy goes south. Without any public sector reform and any game plan to reduce expenditure and improve efficiency, we’re going to have to pay the piper.”

The Davis administration, though, said the latest round of pay rises means Bahamian civil servants will have received base pay increases

of between 8 percent to 31 percent over the last four years “with the largest percentage increases going to entry-level employees”. It added: “This exercise covers all classes of officers directly employed by the public service on a non-contractual basis. Its purpose is to close the wage gap between the public service and the wider private sector, and ensure fairness for Bahamian workers. For example, this increase will narrow the gap between non-contractual employees and those who already received increases as a result of trade union negotiations.”

In a subsequent note to further explain its actions, the Davis administration said: “This is the first comprehensive salary review of the public service since 2009 to 2010. For nearly a decade-and-a-half, successive administrations failed to take on this necessary exercise. Prime Minister Davis committed to it, initiated it and has delivered....

“Public servants are understandably eager to see the increases reflected in their pay checks right away. The reality is that this Prime Minister is delivering what no one else has in 14 years: A comprehensive salary review, consistent annual increases since 2022, and retroactive payments that guarantee fairness for all.”

Asserting that public servants have received incremental salary increases in every year since 2022 to help ease cost of living pressures, the Government explained why the there has been a phased implementation. “In the 2024-2025 Budget communication, the Prime Minister announced the salary review for senior public officers.

“Because the exercise was complex, it took longer than anticipated to conclude. When completed, it was applied retroactively to the effective date. That meant senior officers received their increases a year later, but with full back pay...

“The same principle applies to junior employees today. Their salary review has been concluded, and while the payment will appear in December, it is fully retroactive to September 1, 2025. No one loses a dollar. The timing reflects the administrative completion of the review process,” the Government added.

“The difference is clear.

Previous governments avoided or delayed this level of review for 14 years.

Prime Minister Davis has not only undertaken it, but also ensured that every category of public servant, both senior and junior, receives a raise with retroactive benefits built in.”

Mr Ferguson, though, challenged the way the pay rises for junior civil servants have been implemented. He queried both

the

“retroactive” element, the decision to leave junior officers to last, and the fact some civil servants could be in temporary financial difficulties having anticipated the increases would have come through in September.

“I am concerned in relation to the retroactivity,” the BPSU president said. “The previous persons, the permanent secretaries, received just humungous amounts of money retroactive from 2022. The increase they got totalled some $40,000. Then they increased the middle managers according to them, and there was a gap between them and the permanent secretaries to the tune of $30,700.

“They got a little something and it was made retroactive to 2024. Now it’s for persons at the lower end to receive something, and they want to make it retroactive to September 2025. I don’t think so. We’re looking for equality now. It sends a very clear message to those persons at the lower end that they are not valued or appreciated.

“Persons at the lower end - messengers, support staff, security - it was supposed to be between 2 percent to 8 percent. We’ve been trying to understand who’s getting what definitively. There was huge speculation about the dollar amount, huge speculation until yesterday. Two increments? Come on man.” Two increments for support staff, for instance, would be the equivalent of a $75 monthly rise.

“A lot of persons will have spent that money. Some people will have borrowed money, and now they have to wait,” Mr Ferguson added. “Initially, we would have called for persons at the lower end to receive their funds first to assist them with preparing their children for ‘back-toschool’. Now persons find themselves in a hole having borrowed money believing they would be able to pay it back. There you have it.”

Mr Ferguson was yesterday backed by the Bahamas Educators Managerial Union (BEMU) which, while backing any effort to close “wage disparities” within the public sector, said it had “serious concerns with both the content and clarity” of the Government’s pronouncements. It added that they “directly contradict” the Prime Minister’s previous “assurances” that salary changes would reflect the responsibilities of each worker category in the public service. And the BEMU said there was no explanation as to how remuneration was to be calculated for its members when they have more responsibilities than the “middle managers” who received an eight increment increase retroactive to September 2024.

Appeal, ruling release needs parties to agree

HEARINGS - from page B1

This newspaper understands that the arbitration panel’s decision could be the final verdict in a dispute whose outcome will potentially have a profound impact on Freeport’s future governance and development, as well as ramifications for the city’s economy, the GBPA’s estimated 3,000-plus business licensees and the wider Bahamas.

It is thought that there is no automatic right, or pathway, for the losing or any aggrieved party to appeal the panel’s verdict to the Supreme Court. Such an appeal can only be mounted with the consent and approval of both parties - the GBPA and the Government - and neither is likely to agree to a further challenge to a decision that favours themselves.

Tribune Business also understands that, under The Bahamas’ existing

Arbitration Act, the panel’s verdict is confidential and will not be publicly disclosed unless, again, both parties agree to this. The loser, whether the Government or the GBPA, is unlikely to consent to public disclosure. However, the battle between the Government and Freeport’s quasi-governmental authority has huge public interest implications given the impact the outcome will have for the future governance of The Bahamas’ second city, its businesses and residents and, potentially, the GBPA’s continued ownership by the Hayward and St George families. The sum demanded by the Government is likely to have increased significantly since the $357m arbitration claim was launched given that the Davis administration has signalled in its annual Budget that it intends to bill the GBPA, Freeport’s quasi-governmental authority, for $75m

every year to fund incurred expenses that are not covered by tax revenues generated in the Port area.

These annual billings were to take effect every year from 2024-2025, meaning that - at least in the Government’s eyes - a further $75m is already outstanding, which would take the total now demanded to $432m. And, given that it is now the 2025-2026 fiscal year, a further $75m is coming due. Many observers believe the GBPA owes something; it is just a question of how much.

The PricewaterhouseCoopers (PwC) accounting firm was hired by the Government to analyse, and calculate, just how much the GBPA owes the Public Treasury for public spending in Freeport that exceeds the tax revenues generated by the city. The GBPA denies that anything is owed, alleging that Freeport contributes around $200m annually in tax revenues.

However, the Gov-

ernment is seeking reimbursement of the claimed $357m under section one, sub-clause five, of the Hawksbill Creek Agreement, Freeport’s founding treaty, which stipulates that it can demand payment from the GBPA for providing “certain activities and services” if the costs involved exceed certain tax revenue streams generated in the city.

The original 1955 clause required the GBPA to provide rent-free office and living accommodation to government employees involved in “the maintenance of law and order, the administration of justice, the general administration of Government, the collection of Customs Duties and other revenue and the administration of the Customs Department the administration of the Immigration Department, Post Offices” and other functions to be mutually agreed.

The GBPA was also required to “reimburse the Government annually” within 30 days of detailed accounts being presented by the latter, but only if “Customs Duties and emergency

taxes received by the Government in respect of goods entered or taken out of bond at the Port Area are less than the amount” spent by the Government.

Multiple sources have questioned why the Government has waited until now - some 60 years or six decades - to try and enforce a Hawksbill Creek Agreement clause dating from the 1950s and 1960s. They argue that it smacks of the Davis administration using this as leverage to force the Haywards and St Georges, the GBPA owners, to sell and exit after they declined to accept the Government’s purchase offer.

Prime Minister Philip Davis KC has consistently asserted that fundamental change is required for Freeport to achieve its true economic potential. He has argued that the GBPA has failed to live up to its governance and development obligations under the city’s founding treaty, the Hawksbill Creek Agreement, and that the two St George families are not up to the task required. And the Hawksbill Creek Agreement clause at the centre of the dispute may

not be all it seems. It was last amended in 1960, when Freeport was five years-old, the city’s development very much in its infancy, and the only revenues earned by the Public Treasury at the time from the Port area were Customs duties. While it indeed stipulates that the Government should not spend any more in the Port area than it earns in revenues, and that any excess costs over and above the latter should be reimbursed by the GBPA, that clause has not been amended to account for either the Freeport of today or multiple taxes that have been added since then. Thus VAT, departure taxes and a host of other revenue streams have to be factored into the calculation of whether the Government is spending more than it is earning in Freeport. Several sources have suggested that, rather than go to arbitration, the two sides should instead negotiate amendments to section one, sub-clause five of the Hawksbill Creek Agreement to ensure it is fit for purpose and attuned to the modern world’s realities.

WHAT TO KNOW ABOUT THE H-1B VISA TRUMP HAS TARGETED

WITH $100,000 FEES, GENERATING CONFUSION,

By PAUL WISEMAN, BARBARA ORTUTAY and PIYUSH NAGPAL Associated Press

THE Trump administration's abrupt decision to slap a $100,000 fee on H-1B visas has stunned and confused employers, students and workers from the United States to India and beyond.

Since announcing the decision Friday, the White House has tried to reassure jittery companies that the fee does not apply to existing visa holders and that their H-1B employees traveling abroad will not be stranded, unable to re-enter the United States without coming up with $100,000. The new policy took effect at 12:01 a.m. Eastern Sunday.

Despite the effort at reassurance, "there's still some folks out there recommending to their H-1B employees that they not travel right now until it's a little clearer,'' Leon Rodriguez, a partner at the Seyfarth law firm who was director of U.S. Citizenship and Immigration Services in the Obama administration.

Other questions remain, some of them basic. "What actually is the process for paying this $100,000," Rodriguez said. "Usually, when an agency is going to charge a fee, there's a whole process. There's the creation of forms for collecting that fee. ... At this point, we don't actually know what that process will be like.''

"Key questions remain, such as whether the new fee will apply to universities and nonprofit research organizations, employers that Congress has exempted from the annual limit on H-1B visas," said

FEAR

"Key questions remain, such as whether the new fee will apply to universities and nonprofit research organizations, employers that Congress has exempted from the annual limit on H-1B visas."

Bo Cooper, partner at the immigration law firm Fragomen, Del Rey, Bernsen & Loewy.

Here's a look at what the H-1B visa program is and what the Trump administration is doing to it.

What are H-1B visas and who uses them?

Created by the 1990 Immigration Act, they are type of nonimmigrant visa, meant to allow American companies to bring in people with technical skills that are hard to find in the United States. The visas are not intended for people who want to stay permanently. Some eventually do, but only after transitioning to different immigration statuses.

An H-1B allows employers to hire foreign workers who have specialized skills and a bachelor's degree or the equivalent. They are good for three years and can be extended another three years, suggesting that there are now "around 700,000 H-1B visa holders in the country and another half a million or so dependents," economist Stephen Brown of Capital Economics wrote in a commentary Monday.

At least 60% of the H-1B visas approved since 2012 have been for computerrelated jobs, according to the Pew Research Center. But hospitals, banks, universities and a wide range

PUBLIC NOTICE

TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, REKISHA VASHANDA NEWBOLD of New Providence one of the Islands of the Commonwealth of The Bahamas, intend to change my name to RIKISHA VASHANDA CULMER. If there are any objections to the change of name by deed poll, you may write such objections to the Chief Passport Offcer, P. O. Box N- 742, Nassau, Bahamas no later than thirty (30) days after the date of the publication of this notice.

Bo Cooper

of other employers can and do apply for H-1B visas.

The number of new visas issued annually is capped at 65,000, plus an additional 20,000 for people with a master's degree or higher. Those visas are handed out by a lottery. Some employers, such as universities and nonprofits, are exempt from the limits.

According to Pew, nearly three-quarters of those whose applications were approved in 2023 came from India.

What did Trump do?

The White House announced the $100,000 fee. The application fee is currently $215, plus other relatively nominal processing charges. It took effect barely 24 hours later.

Commerce Secretary Howard Lutnick said the fee would be applied annually, for a total of $600,000 over the maximum number of renewals allowed. The White House clarified Saturday that it was a onetime fee and said it would not apply to current visa holders.

Trump also rolled out a $1 million "gold card" visa for wealthy individuals.

The moves are certain to draw lawsuits charging that the president was improperly sidestepping Congress with a dramatic overhaul of the legal immigration system.

Why target H-1B visas?

Critics say they undercut American workers, luring people from overseas who are often willing to work for less than American tech workers do.

Staffing companies such as Tata Consultancy Services often supply Indian workers to corporate clients.

"To take advantage of artificially low labor costs incentivized by the program, companies close their IT divisions, fire their American staff, and outsource IT jobs to lower-paid foreign workers,'' the White House said in its proclamation Friday.

In a 2020 report, the leftleaning Economic Policy Institute found that 60% of the H-1B positions certified by U.S. Labor Department are assigned wages below the median for the job.

Brown at Capital Economics wrote that "it is hard to disagree with the administration's argument that the program needs reform.''

Giovanni Peri, director of the Global Migration Center at the University of California, Davis, said that abuses of the program — such as bringing in mid-level coders to replace higher-paid Americans — do occur but are relatively rare.

Most H-1B visa holders, he said, really are highly skilled workers who are

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that I, EUGENE OMAR JAMES LUBIN of P. O. Box FH-14439, Sir Lynden Pindling Estate, New Providence, Bahamas, intend to change my name to EUGENE OMAR JAMES DAVIS. If there are any objections to the change of name by deed poll, you may write such objections to the Chief Passport Offcer, P. O. Box N- 742, Nassau, Bahamas no later than thirty (30) days after the date of the publication of this notice.

hard to find. "Most of these people come in, and they have helped the productivity of firms; they have helped innovation," Peri said. "They have complemented the work of Americans, and they have allowed growth.''

What impact will the H-1B crackdown have?

Brown said that many tech firms can probably afford to pay $100,000 to bring in skilled workers.

"Nonetheless," he wrote, "the upfront fee will clearly be too high for many companies to stomach. Last year, the healthcare, retail and accommodation & food services sectors accounted for a quarter of H-1B visas between them, and firms in those sectors will probably find it harder to afford the fee."

The higher fee — along with other Trump administration attempts to curb immigration — is likely to reduce the U.S. labor supply and push wages higher, Brown said. Foreign workers like Alan Wu are worried – and stunned by the speed with which Trump disrupted the H-1B process. "Can you release some policy which impacts tons of people just like that?" said Wu, who is working in Indianapolis as a data scientist for a pharmaceutical company.

He is working legally on his student visa after earning a doctorate. He's failed to win the H-1B lottery for two consecutive years. And he's now rethinking his plan to live permanently in the United States, where he's lived for more than a decade. "I am definitely concerned about my job now that the cost and risk of hiring a foreigner is so high," he said.

Navneet Singh, who runs a consultancy "Go Global Immigration" in India's Punjab state, said changes to H-1B visa policies are likely to significantly impact future migration to the U.S., particularly from India. "Trump is trying to suffocate new immigrants who are skilled, so that they won't take the jobs away from the average American. But by doing so, they will be making (U.S.) production expensive," Singh said. He said the new policy is likely to create advantages for competitors in other countries. "Countries like France, Netherlands, Germany and Canada are set to gain from this move," he added.

Some Indian students aspiring to pursue higher studies in the U.S. are disappointed. "It feels like a door closing," said one aspiring student who requested anonymity.

NOTICE is hereby given that DWIGHT ALEXANDER WILLIAMSON HINOJOSA of Yamacraw Hill, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

‘We’ll do whatever’s necessary to protect Bahamian

dollars each year, supporting thousands of jobs and providing a vital source of food security. For these reasons, we cannot and will not allow legal actors to exploit our waters without consequence.”

Mr Campbell said the operation was sparked by a tip received in March 2025 through the ‘poaching hotline’. Investigations later revealed that the vessel, which has not been named, was operating in breach of multiple Bahamian laws.

“The Royal Bahamas Police Force, the Royal Bahamas Defence Force, the Department of Marine Resources, Bahamas Customs, the Port Department and the Office of the Attorney General worked together with the support of the Nature Conservancy and WildAid through the Marine Action Partnership to successfully carry out this undercover investigation and interdiction of a foreign vessel allegedly engaged in illegal charter fishing,” said Mr Campbell.

“Now, this was not just a routine patrol; it was a carefully-planned covert operation designed to identify, monitor and interdict individuals operating outside of Bahamian law. The evidence gathered indicates that the targeted vessel was operating in breach of the Fisheries Act, the Boat Registration Act and other related laws.”

Mr Campbell said his ministry is working to upgrade enforcement and inter-agency coordination

to better identify and target illegal operators. He also encouraged the public to report violations as their involvement is crucial to catching rule-breakers and protecting marine resources.

“We also recognise that our fisheries and the pristine waters of The Bahamas are amongst our most valuable assets, and that there are those who will stop at nothing to exploit them, and so we will do what is ever necessary to protect them. At the same time, we must acknowledge that much work remains to be done, and we accept that the need to improve and adapt will probably never end,” said Mr Campbell.

“This is a challenge. We will continue to leverage the full strength of our partnerships and encourage the public to speak up. While surveillance capacity is stronger than ever, we cannot be everywhere at once, and the vigilance of the public remains vital.”

Mr Campbell further revealed that his ministry is collaborating with US law enforcement to pursue American citizens who return from The Bahamas with illegal catches, or who document illegal activities on social media.

“We don’t want the public to feel as if our efforts just stop at the borders of The Bahamas. As of late, there have been dozens of cases of illegal charters and fishing in Florida, where persons return home. Through the efforts of Florida laws, and also the Lacey Act, there have been dozens

NOTICE

NOTICE is hereby given that ELEISHA VERNETTE ELIAZARD of Palm Tree Avenue, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MARIANA ZULETA of Charlotteville Gated Community, Nassau, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that JOSE DANIEL ZULETA MARTINEZ of Charlotteville Gated Community, Nassau, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ROSEKEVA PASCAL of Quarry Misson Road, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 16th day of September 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

fisheries’

of convictions, fines and penalties paid,” said Mr Campbell.

“And so our efforts are now reaching to our big brothers in the north, and we share an extremely strong partnership with them. So you may see, from time to time, a lot of videos or TikToks with people fishing in excess of the regulations, without permits, without stopping to the Customs and Border Patrol.

“And we want the public to know it’s not the end of it. The prosecution department in Florida does a tremendous job, just as our prosecution department here, so it’s a continuous effort.” Mr Campbell added that more operations are forthcoming, and warned that repeat offenders would face tighter enforcement and serious consequences.

“Let it be clearly understood, while some may believe that they are

escaping detection, Operation Red Dawn 1 and 2 are only the beginning. We will not sit back. We will not allow repeat offenders or opportunists to exploit loopholes or weak enforcement,” the minister said.

“Each operation strengthens our ability to defend our waters, and each successful case sends a clear signal that The Bahamas is serious about protecting its resources.” However, concerns have been raised after the Supreme Court recently released the boat seized in Operation Red Dawn 1, Highly Migratory, back to its Florida owner - albeit after paying a $100,000 or bond to Bahamian authorities.

Justice Andrew Forbes, in a September 3, 2025, verdict, rejected the Attorney General’s Office’s bid to persuade him to stay, or halt, his previous ruling that the Highly Migratory be released provided certain conditions were met.

The bond was equal to the maximum $100,000 fine that can be imposed if the vessel and its occupants are ultimately found guilty of the claimed breaches. And,

NOTICE

NOTICE is hereby given that NICHEL LLEWELLYN LONCKE of Marsh Harbour, Abaco, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ERICK-JEAN JOSEPH of Granger Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that JANNETH CRISTINA GOMEZ GIRALDO of Charlotteville Gated Community, Nassau, Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that RACHEL LLEWELLYN of Pinewood, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 16th day of September 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

NOTICE

citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 16th day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

given the boat is purportedly valued at $750,000, and it was costing the Government $3,000 per month to store it at Grand Bahama’s Bradford Marine, Justice Forbes signalled its release from detention made commercial and financial sense.

However, David Whyms, who described himself as the “principal legal advisor” to the Government on legal proceedings “for and against” the Bahamian state, asserted in an affidavit that Justice Forbes had “erred” in permitting the Highly Migratory’s release subject to the conditions he had set.

Mr Whyms argued that the “seriousness of the charges” involving Highly Migratory and its crew meant the Government parties, namely the Attorney General and minister of agriculture and marine resources, had “a duty to appeal” the vessel’s release. And he asserted that the Government had a good chance of winning both the appeal and the merits of the case.

Yet Mark Tsurkis, the owner, who was not on

board when his boat was seized, nor is a party or named defendant in the Bahamian court proceedings, countered in his own evidence that “the vessel poses no threat to The Bahamas; it was permitted to be in The Bahamas”. He added that the firearm found by the Bahamian authorities was discovered on the person of Matthew Logman, one of the crew members, and “there was no agreement that the vessel would be detained as a result of the plea”. Mr Logman had also paid the necessary fines associated with the plea deal with prosecutors.

Mr Tsurkis further added “that without the vessel his business would suffer great hardship”, asserting that “he has a right to his property nor is he a party to any criminal proceeding”. Justice Forbes agreed with these arguments, finding that to halt or “stay” his earlier verdict - and the boat’s release - would deprive the US businessman of “the fruits of his labour; in this instance, the vessel”.

NOTICE

NOTICE is hereby given that KENIESHA ROSTAND of Chapling Road, Abundant Life Road, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MADLYNE FILS-AIME of P. O. Box SS-6582, Fowler Street, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/ naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twentyeight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that JEAN RONEL CIRA of P.O. Box SS-6582, #15 Six Street, Coconut Grove, New Providence, Bahamas is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ANCY SILIEN of Sunshine Park, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for Registration/ Naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 16th day of September 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas.

Mr MacKenzie added.

Silicon Valley seeking alternative jurisdictions

VISA - from page B1

companies like that join in with what we’re doing locally. We are obviously a ripe market for companies wanting to set up in The Bahamas.

“We have the great advantage of being close to the US while also allowing people to enjoy the lifestyle - sun, sand and sea - that The Bahamas has to offer. In the technology space, it’s very easy to work remotely.”

Mr Roye explained that, even if technology companies themselves elected to remain in the US in the face of Mr Trump’s visa hikes, they could easily relocate key foreign staff to countries such as The Bahamas to keep them in close proximity. During the COVID-19 pandemic, The Bahamas enjoyed some success in attracting so-called ‘digital nomads’ - technology workers who can work remotely.

The Bahamas, though, must also ensure its citizens benefit from the arrival of foreign technology companies and investment.

Mr Roye said knowledge transfer, and creating a domestic Bahamian technology workforce, are key goals that that country must also attain as it seeks to capitalise on the US skilled worker visa changes.

“Obviously the first thing we’d want to do is ensure companies that are setting up shop here, they have to hire at least a certain level of Bahamian talent to work in our local environment,” he told Tribune Business.

“What we’ll need to do is ensure, from a government standpoint, that these companies commit to hiring local talent to work at their companies, and they train students and people with the skills to work in those positions.

“AI (artificial intelligence) is becoming very popular and growing very swiftly, so there will be a lot of these AI and technology companies looking at The Bahamas. We want to ensure we have the talent here locally to fill these positions and be paid properly for it.”

Noting that parent companies may also elect to establish subsidiaries in The Bahamas, he added: “The most important thing for us is to leverage this so more companies set up shop here. That adds to what we need here in The Bahamas, and from there we can see where the market takes us.”

Minister: Farming is going high-tech

- from page B1

phones and remote-controlled environments in modern farming.

“One of the main reasons why we try to launch projects that are scientifically-based is to attract the younger person so they know that agriculture isn’t just the straw hat and cutting this any more in the sun. It actually revolves around laptops, smart phones. Some people do it

from home in an air-conditioned setting.” said Mr Campbell He highlighted container farming as a prime example of climate-resilient, hightechnology agriculture that fits the realities of small island nations such as The Bahamas.

“Container farming is a 12-month business. It doesn’t stop. For small island developing states like The Bahamas, it’s very conducive, especially for

Scott MacKenzie, chief executive of Cloud Carib, the Bahamas-based cloud services and cyber security provider, echoed Mr Roye by telling Tribune Business that every Silicon Valley executive he is speaking to is looking at alternative jurisdictions to the US as a base of operations - at least for foreign staff.

“I think every opportunity needs to be leveraged, and I think the H1B visa thing will definitely put companies on the back foot because it’s such a huge impact across the board,” he argued. “It’s a great opportunity for countries in the Caribbean, and especially The Bahamas, to look at that as an offshoring mechanism.

“I know there will be some hesitancy from some people about bringing more foreign workers into the country, but if you look at Singapore and Ireland as examples, it brings in people with the knowledge and expertise to matriculate to the next generation. The Bahamas is so close to the US, it’s a great opportunity to leverage that. At $100,000 per head, that’s a lot.

“The people I talk to in Silicon Valley are all saying the same thing,”

climate change and excessive weather conditions. We are now able to pretty much control the environment in which farming takes place,” said Mr Campbell

“So we’re making it attractive, we’re making it exciting, and that is what the young people wanted. That speaks directly to the growth of the industry and we look forward to other programmes as well.”

BAMSI reported record enrolment this fall, up 15 percent over the previous year. Student interest increased across agriculture, marine science and sustainable development programmes, with growing demand for aquaculture,

“Everybody is looking for alternatives right now. Some companies will pay for top-tier talent, and that’s a huge cost.” The Cloud Carib chief referred to the ‘80/20’ rule, suggesting that some foreign worker skills sets are “so unique” that firms such as Meta and Google will be prepared to absorb Mr Trump’s fee hike.

However, he added that only 20 percent of skilled foreign workers likely fall into that category. For the remaining “80 percent’, Mr MacKenzie said their employers are seeking to relocate them to jurisdictions such as the UK and Canada - “anywhere but the US”.

“There’s definitely a good opportunity for The Bahamas,” he said. “The Bahamas is so close. It’s a 35-minute flight from Miami. The technology sector has developed quite a bit in Miami, it’s developed quite a bit in Texas. Both are quite close to the Caribbean. I think it’s a great opportunity.”

The Bahamas, though, will have to move quickly if it is to truly capitalise on Mr Trump’s decision. And it may already be behind, with the UK already said to be considering reduced visa application fees and make it easier for foreign academics and digital experts to relocate to that country.

Similar strategies were hatched by The Bahamas during the first Trump

animal science, business management and inter-disciplinary courses such as art and the environment.

Dr Amanda Bethell, director of admissions and recruitment at BAMSI, said targeted outreach helped students understand how agriculture and marine science careers contribute to national sustainability goals.

BAMSI is also expanding its national certification programmes. The 2025 flats fishing cohort enrolled 28 students, and a new nature tour guide programme is set to launch in October, aiming to prepare students for careers in eco-tourism.

administration, when restrictions on the number of H-1B visas issued by the US were mulled then. This nation, under the former Minnis administration, explored the creation of a Bahamas equivalent - the ‘BH1B visa - in a bid to attract skilled foreign workers and their employers to these shores. This came from a recommendation by the Grand Bahama Technology Steering Committee, which was set up to explore what was required for Freeport and the rest of the island to become a technology hub. The ‘BH1B’ visa was seen as a key incentive for enticing 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 Mr Trump’s then-Immigration crackdown. This made 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.

The Davis administration, though, elected to go in a different direction with its plans to establish Grand Bahama as a technology hub. It launched its Innovate 242 initiative, which is seeking to establish technology hubs on different islands.

NOTICE

NOTICE is hereby given that JULIE ESPERANCE of #69 Augusta Street, Nassau, The Bahamas, is applying to the Minister responsible for Nationality and Citizenship, for registration/naturalization as a citizen of The Bahamas, and that any person who knows any reason why registration/ naturalization should not be granted, should send a written and signed statement of the facts within twenty-eight days from the 23rd day of September, 2025 to the Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

PetraLP Ltd.

Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 209450 B (In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing on the 19th day of September A.D. 2025.

Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Andrea Lozano Pemberton, whose address is R PRF Wlademir Pereira, 00235 Casa 07 Vila, Sao Silvestre, Sao Paulo, CEP: 05386360, Brazil. Any Persons having a Claim against the above-named Company are required on or before the 18th day of October A.D. 2025 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.

Dated this 19th day of September A.D. 2025. ANDREA LOZANO PEMBERTON LIQUIDATOR

NOTICE

JACARANDA GLOBAL LTD.

Incorporated under the International Business Companies Act, 2000 of the Commonwealth of The Bahamas. Registration number 206030 B (In Voluntary Liquidation)

Notice is hereby given that the above-named Company is in dissolution, commencing on the 19th day of September A.D. 2025.

Articles of Dissolution have been duly registered by the Registrar. The Liquidator is Mr. Carlos Alberto Ferreira, whose address is Rua Cristovao Diniz, 26/AP 1, CEP: 01426-020, Jardim Paulista, Sao Paulo, Brazil any persons having a Claim against the above-named Company are required on or before the 17th day of October A.D. 2025 to send their names, addresses and particulars of their debts or claims to the Liquidator of the Company, or in default thereof they may be excluded from the benefit of any distribution made before such claim is proved.

Dated this 19th day of September A.D. 2025. CARLOS ALBERTO FERREIRA LIQUIDATOR NOTICE