Investing - Haiti Observer Blog

Haiti's continued recognition of The Republic of China as a body which governs itself was met by the Asian country's readiness to offer almost $16 million to the recovery of the Caribbean nation after the crippling earthquake experienced in 2010. As such, a visit from Taiwan's President, Ma Ying-jeou during his tour of those countries in the Caribbean and South America, of the 23 worldwide which support Taiwan's sovereignty, is a welcome one.

Met at the airport by President Michel Martelly and Prime Minister Laurent Lamothe, Ma took stock of what he could of the country during his one day visit and held talks with the Haitian President at the presidential office concerning the reconstruction of the Port-au-Prince Supreme Court building, the project to which the donation had been appropriated. The two laid the ceremonial first stone of the building being built by OECC, a Taiwanese company based in the capital, Taipei. The new courthouse will be in the style of the neo-colonial and will be situated near the National Palace, also destroyed by the earthquake.

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Doing a business in Haiti involves a set of laws and regulations. Starting a business is not something that can be done instantly as it requires permits, planning and processes. However, because Haiti wants to make opening a business in the country easier and more efficient, the authorities have made some changes in the country's regulatory system. This way, businessmen might fast-track the opening of a business while making sure that all regulations are followed.

One of the changes involves the publication of Articles of Incorporation (AOI). Currently, such publication can be done two months earlier than usual because the office of the prime minister or the president no longer has to vet the AOI. A new law, on the other hand, has been implemented to improve the application for credit in the country. The new law enables businesses to use a wider variety of assets for collateral.

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An important case of a fraud in banking has taken place in Haiti. One of the biggest issues in Haiti is that for whatever crimes are committed, the concerned people are not held accountable. The same mistakes are being made over and over again.

Gerard Dumont Vanishes With Millions Of Dollars

The Allied Irish Banks were defrauded of $750 million by a trader based in Baltimore. There was also a particular Gerard Dumont who was the owner of a Mini Bank in Haiti. The bank was called Bureau de Change Gerard Dumont. In the late eighties, it closed down suddenly.

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