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Graham Thompson

Erica Paine

Erica Paine

Partner

Expertise

  • Banking & Finance
  • Corporate, Commercial & Securities
  • Property & Development
  • Banking & Finance
  • Corporate, Commercial & Securities
  • Property & Development

WSG Practice Industries

Activity

WSG Leadership

WSG Main Group
Member
Profile

Erica Paine is a Partner in the firm’s Property and Development Practice Group.

Erica specializes in real estate transactions and conveyancing, sales and structuring for both high-end and private client matters and large commercial transactions.  Her practice covers condominium agreements and declarations, resorts, hotels, marinas, mixed use and residential projects, fractional ownership arrangements, private and commercial leases, subdivision planning, easements, title insurance, service charges and rights of way, mortgage-backed financing and loans, property title due diligence and opinions, commercial and residential leases and related tax matters and issues, and in advising on and applying for all governmental and requisite approvals.

Erica chairs the Firm’s VAT tax group.

Recent engagements include:

  • Representing real estate developers with the purchase, development, financing and re-sale of resort and residential developments, including an approximately 500-acre project in the Abacos, an approximately 245-acre project in Grand Bahama and an approximately 1500-acre project in Eleuthera.
  • Representing real estate developers with regard to subjecting property to the condominium form of ownership.
  • Representing real estate developers with regard to time-share and other fractional ownership projects.
  • Representing hotel developers and managers, including major global brands establishing a local branch in The Bahamas.
  • Advising major corporate investors on local requirements in conjunction with international transactions.
  • Advising on financing structure to local banks for local and international clients.
  • Numerous conveyancing and mortgage transactions including whole islands and second homes.
  • Advising on Value Added Tax liabilities, including pursuing a claim for a multi million-dollar refund.

Bar Admissions

  • Bar of England and Wales, 1980
  • The Bahamas Bar (Registered Associate)

Education

The Council of Legal Education, London, England, United Kingdom
Oxford University, England, United Kingdom
Areas of Practice

Banking & Finance | Corporate, Commercial & Securities | Property & Development | Banking & Finance | Corporate, Commercial & Securities | Property & Development

Professional Career

Significant Accomplishments

Transactions on which she has recently worked include:

Representing real estate developers with the purchase, development, financing and re-sale of resort and residential developers.
Representing real estate developers with regard to subjecting property to the condominium form of ownership. Representing real estate developers with regard to time-share and other fractional ownership projects.
Representing major hotel developers and managers.
Advising major corporate investors on local requirements in conjunction with international transactions.
Advising on financing structures to local banks. Numerous conveyancing and mortgage transactions.

Professional Associations

The Honourable Society of the Middle Temple





Professional Activities and Experience

Erica, between 1981 and 1996, practiced at the English Bar at Falcon Chambers, London, specializing in Real Estate and Landlord and Tenant Law. During this period she was also a contributor to Halsbury's Laws of England on Landlord and Tenant Law.
Articles

Demanding a Culture of Compliance: Obligations on Land Developers Under the Financial Transactions Reporting Act (FTRA), 2018
Graham Thompson, May 2019

The Financial Transactions Reporting Act 2018 (FTRA), which was enacted on May 25, 2018, imposed a mandatory requirement on land developers to register with the Compliance Commission (the Commission)...

Important Notes on Real Property Tax in The Bahamas and Rates for the 2019 Tax Year
Graham Thompson, August 2018

In the recent budget exercise completed by the Bahamas Government, certain significant changes to the regime for Real Property Tax in The Bahamas were announced and have received a great deal of focus.It is important to take specific advice regarding the annual real property taxes which may be payable in respect of your property, how and when taxes should be paid, and the exemptions (if any) which might be available to you in respect of your property...

Top Ten Things to Know About Real Property Tax in The Bahamas
Graham Thompson, August 2018

Register your property Online.Registering for an online real property tax account at propertytax.gov.bs is easy, and all that is needed is the property assessment and grid numbers (found on any bill or tax certificate). Once registered, the online account is a convenient way of keeping track of your account. Payment can also be made through the online account, and a tax certificate can be printed directly from the account.Pay the tax by 31st March and enjoy a 10% reduction...

Additional Articles

Estate Planning and Inter Vivos Gifts, GT News & Insights, Vol 2, Issue 3, April 2020


Demanding a Culture of Compliance: The Obligations on Land Developers Under the Financial Transactions Reporting Act, 2018 [May 2019]


Important Notes on Real Property Taxes in The Bahamas. Rates for the 2019 Tax Year [July 2018]



WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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