NASSAU, BAHAMAS- The Bahamian financial services landscape is set for a significant shift as PDC Corporate and Accounting Services Ltd. announces its expansion into the Family Islands, starting with Exuma, while also targeting growth across Latin America.
On November 1, the company will open its doors at new offices in Caves Village, signaling a major milestone in its mission to support business establishment and development across The Bahamas. Heading the company is 33-year-old entrepreneur Peter Cartwright, who has built the firm which is poised to serve as a leading resource for Bahamian and international clients alike.
Cartwright who started as a packing boy, was able to put himself through St. Thomas University at 17, where he completed a finance degree in just three years. After honing his skills at a financial services company in Florida, he returned to The Bahamas in 2013, gaining invaluable experience at a local accounting firm and one of the big four firms. Seven years ago, Cartwright launched his own business, focusing initially on providing accounting services to small businesses navigating VAT’s complexities.
“At the time, VAT had only been in place for two years, and companies were still trying to figure out the system. I saw an opportunity to focus on tax accounting, business licensing, and administrative services,” Cartwright said. “Initially, it was just myself and an administrative assistant. Now, PDC Corporate Services has a team of seven and is regulated by the Securities Commission of The Bahamas, managing Bahamian and international companies, non-profits, and foundations. We also help businesses tackle licensing and regulatory challenges, making sure our clients are well-positioned.”
This year, PDC expanded its accounting services, partly in response to the revised Business License Act requiring audits for companies with revenue over $5 million. “Although we don’t perform audits directly, we provide essential audit preparation,” Cartwright said, adding that the firm focuses on monthly accounting, VAT filing, and audit prep with a team that includes two CPAs.
With the merger of his two companies, PDC Corporate Services and Assurance Accounting and Tax Services, Cartwright plans to increase his team’s expertise and capacity further. “We’re in full expansion mode, establishing our physical presence in Exuma and moving to Caves Village to double the office space,” he shared. “Starting with Exuma, we aim to branch out to other islands to better serve our clients and tap into new opportunities. We’ve helped register over 1,000 business licenses and administer nearly 500 companies over the last seven years, and we’re just getting started.”
PDC’s ambitions don’t end in The Bahamas. With an established Latin American client base, Cartwright plans exploratory visits and strategic partnerships with organizations like the Bahamas Financial Services Board and the Chamber of Commerce. “Our goal is to make PDC the go-to firm for establishing and managing businesses in The Bahamas,” Cartwright emphasized. The company aims to grow its team to 10 by next year to meet the increased demand from a major influx of foreign investors, particularly in construction, real estate, and maritime development on the Family Islands.
“We’ve seen significant growth in sectors like marinas, beachfront properties, and hotels, especially as international interest surges,” he said. “PDC has recently started offering regulatory submission services to streamline coastal development permits for projects such as dredging and building docks. “By helping clients navigate these requirements, we’re making it easier for them to invest and develop in The Bahamas’ vibrant economy,” Cartwright added.
