With daily flights to the island from New York, Boston, Atlanta, and Miami in the US, Toronto in Canada and London in the UK, Bermuda is at the flight crossroads of the West and immensely accessible. Our infrastructure is first class.
Bermuda is the giant among the offshore jurisdictions in the Caribbean.
A full British colony, originally settled in 1609, it became self governing in regards to domestic matters in 1620 and the local parliament has sat ever since. For the last one hundred years it has been a repository of corporate and private wealth for many of the world substantial families. Bermuda is tax free for international companies and individuals and levies no income or capital gains tax. The key issue for any investor is to be comfortable that their assets are safe. Bermuda is a very highly regulated centre,where the primary focus of regulation is to keep the customers assets safe. Companies in the investment industry face rigorous and ongoing reviews by the Bermuda Monetary Authority, which functions as the regulator for all the financial activity performed on the island.
Bermuda's colonial status, exemplified by a British appointed Governor, guarantees the rule of law with the country highest court being the Privy Council in London. There are no taxes applied to any of the investment companies or private offshore companies operating in Bermuda.Bermuda levies no taxes on capital gains or investment income. Essentially Bermuda is a tax neutral place to hold your financial assets.
With a US$6 billion economy and a GDP per capita of US$92,818, Bermuda is substantially larger and wealthier than its peers in the offshore world. International business makes up the substantive majority of Bermuda economic activity with its trust companies, international investment industry and global insurance operations.
Bermuda trust and financial industry goes back almost one hundred years. These financial and trust companies have deep and wide experience in helping global families around the world.
Within the trust industry there is an excellent group of high quality licenced companies that focus on giving the highest level of service to their customers. A Private Trust Company provides the ability to achieve all the advantages of an arm length trust while maintaining control through their ownership of the private trust company itself.
The creation of a trust is usually only the first step in creating a structure to hold assets offshore. Usually that trust will need a private corporation to conduct investment activities. Again Bermuda excels at corporate management, with many of the licenced trust companies having corporate management subsidiaries. These corporate service providers in Bermuda are familiar with the management of private corporations or IBCs in most of the offshore jurisdictions and will tailor the structure to best suit the customer.
Finally and most importantly we possess a superb financial industry that provides the customer the ability to efficiently trade in equity and bond markets around the world, purchase 5 star rated investment products, invest in private equity deals or alternative investments and most importantly, custody those assets safely. Bermuda tax neutral environment makes it an excellent, safe platform from which to invest globally.
One financial company in Bermuda deals in hard assets such as physical gold and with the provision of safekeeping either individually through safety deposit boxes or in the firm vaults.
One investment company in Bermuda has the ability to allow their customers access to trade their accounts from where they are in whichever market they wish. While other investment firms offer on-line trading, they normally outsource the account to an on-shore provider, essentially acting as an ntroducer of business to another on-shore firm. There is only one investment firm in Bermuda whose on-line trading system is built into the fabric of their operations and where the transactions and all details relating to the account and the investment activities are kept completely offshore.
The Bermuda Stock Exchange (BSX) is the world largest offshore fully electronic stock exchange offering a full range of trading and listing opportunities to domestic and international issuers. The BSX has a 'light but effective' regulatory environment which makes it conducive to new and innovative product listings. The BSX is a full member of the World Federation of Exchanges (formally the FIBV) the BSX has been acknowledged by its peers to meet the highest regulatory and operational standards. Similarly the US Securities and Exchange Commission recognizes the BSX as a 'Designated Offshore Securities Exchange' (DOSM) and the UK Financial Services Authority (FSA) recognizes the BSX as a 'Designated Investment Exchange' (DIE).
Of particular interest to the Chinese investor is the ability to list on the Bermuda Stock Exchange for as little as US$50,000 and in as little time as 3 weeks once all documents are prepared and due diligence is complete. Further, if investors are sophisticated then there are no minimum shareholders, no minimum market capitalization and no minimum profitability requirement. The exchange is ideal for family run companies and medium market capitalized companies wanting to raise up to RMB150 million.
The depth of financial services does not stop with trusts, corporations and investment accounts. The right firm can guide clients through all steps from listing to structuring, raising capital and depositing shares. Bermuda is one of the largest insurance and re-insurance centres in the world. There is a depth of specialization in insurance offerings, and a large captive insurance industry. Captive insurance entities have become widely used in the West for tax planning, asset protection and risk mitigation.
With the wide range of user services the necessary support services are widely represented. There is a strong and robust level of accounting services and legal expertise at all levels. Though many of these firms are Bermuda originated, their expertise and operations carry a global footprint.
Long before Bermuda became a global financial centre it actually was a premium tourism destination. The island is a beautiful place to visit. There is a wide range of hotels and other accommodation available to the visitor, whether it is someone on business for a few days or a family on business and holiday for a month. The island natural and enchanting environment is worth visiting just for pleasure. Beautiful water, beaches and natural fauna along with warm and friendly people has meant a place that people enjoy visiting with their families when they come to do business.
