Why Bermuda

Reputation
Bermuda is widely regarded as the premier offshore financial centre. It has enjoyed a long history of political, economic and social stability and its international business sector has been untouched by the types of scandals that have plagued other offshore jurisdictions.

Legal System
Bermuda's legal system is based on English common law, with a final right of appeal to the Judicial Committee of the Privy Council.

For many years Bermuda has been a market leader in the enactment of business-friendly legislation. Bermuda’s ability to react quickly to changes in the way that business is conducted and to create a legal environment that is enabling rather than disabling, serves the business community well. For example, Bermuda was among the first offshore jurisdictions to enact e-commerce and segregated accounts legislation.

Regulatory Approach
Bermuda has a progressive and flexible regulatory system and the Government’s "hands off" approach to regulation has allowed its international business sector to flourish. At the same time, Bermuda is proud and protective of its reputation as an offshore jurisdiction of the highest integrity. So it screens those who wish to do business in or from Bermuda.

Our regulatory approach has received the stamp of approval of the Organisation for Economic Co-operation and Development (OECD). While the OECD placed more than 30 jurisdictions on its 'hit list' of harmful tax jurisdictions, it excluded Bermuda from that list. The Financial Action Task Force (FATF) is another official body to recognise Bermuda’s sound practices. They did not classify Bermuda as one of the 14 nations deemed to be uncooperative in the fight against money laundering. OECD officials pointed to Bermuda as the perfect example of a jurisdiction that operates with a high degree of transparency and yet has developed a thriving international business sector.

Tax Neutral
Bermuda has no corporation, capital gains, income, profits or withholding taxes. A certificate, issued by the Ministry of Finance, currently extends the no-tax guarantee to the year 2016.

Location
Bermuda’s geographic location between the United States and Europe offers a desirable time zone and efficient access to and from major international airports on both sides of the Atlantic. We are 90 minutes' flying time from New York, two hours from Toronto and seven hours from London.

Availability of Professional Services
Bermuda’s world-class accounting, banking, financial, telecommunications, e-commerce and information technology organisations provide first-rate support for our clients.