The second large expansion for Bounty Bay Online will be released on Jan. 15, and it will allow guilds to establish their own colonies. Frogster has released a trailer for the expansion, which can be viewed here. Here's some information on the expansion from a press release:

With the upcoming content package, player guilds will be able to establish entire colonies complete with towns and harbours in the historical explorer setting. The update allows guilds to create their individual home territory and retreat, as well as a profitable trading base. Once created, guilds choose the appearance of their own colonies and control their development and commercial policies.

More information on the content package can be found in this thread on the official forum.