Bermuda

Let Bermuda be your gateway to international business and asset management.

Bermuda is a high-quality off-shore jurisdiction that provides a competitive, business-friendly jurisdiction for international companies and investment funds. The advantages of locating in Bermuda include the following:

Tax Neutrality

Exempted companies (i.e. companies controlled by non-Bermudians) and their shareholders (except for shareholders ordinarily resident in Bermuda) pay no Bermuda income tax, profit tax, capital gains, VAT or withholding taxes. It is also possible for exempted companies to obtain a written undertaking from the Minister of Finance that no taxes will be imposed on the exempteded company.

U.S. based insurance companies also enjoy the benefits of the 1986 Tax Convention Between Bermuda and The United States of America (the “Treaty”). Under the Treaty, business profits of a qualified Bermuda insurance company derived from insurance business are not taxable in the U.S. unless the insurance company carries on or has carried on business in the U.S. through a permanent establishment.

No Foreign Exchange Controls

The local currency is the Bermuda dollar, which is pegged to the U.S. dollar. There are no restrictions on the repatriation of profits or capital for exempted companies.

Supportive Regulatory Framework

Bermuda has a highly developed common law legal framework, with many of its corporate laws derived from U.K. or Canadian precedents. Bermuda courts regularly adjudicate complex commercial disputes, and a final right of appeal lies with the Judicial Committee of the Privy Council in the U.K. World Class Infrastructure and Service Providers

Bermuda’s world class infrastructure provides the island with a distinct competitive advantage compared to other offshore jurisdictions. Bermuda is located in the Atlantic Time Zone (one hour ahead of New York, four hours behind GMT), and is serviced by daily flights from most major Eastern Seaboard cities (the flight time is one and one/half hours from New York) as well as London. A state-of-the-art telecommunications backbone provides seamless, high speed Internet and telephone communications with all major jurisdictions. Bermuda also benefits from a deep pool of talented, world class service providers, including well established international banks, major accounting and law firms, fund administrators, custodians and investment advisors.

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