THERE HAS NEVER BEEN A BETTER TIME TO CHOOSE BERMUDA
Ross Webber, CEO of the Bermuda Business Development Agency, talks us through the Island’s strengths in international business and the welcome new entrants can expect when they come to Bermuda’s shores.
the 21-square-mile British Overseas Territory that is now recognised more for its reputation as a world-class international business centre than for its trademark pink beaches, triangle and shorts.
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Bermuda’s advantages for the business world are both obvious (stable social and political environment, breathtaking beauty, subtropical climate, physical proximity and enviable standard of living) and intangible (tax-neutrality, pragmatic regulation, a sterling reputation and robust, high-tech infrastructure).
These features provide a uniquely sophisticated business ecosystem for corporate entities ranging from global re/insurers and captives to investment funds, trusts and cutting-edge insurance-linked securities (ILS) vehicles.
n the Age of Discovery, when mariners crisscrossed the Atlantic to search for New World riches, they labelled the reef-encircled archipelago of Bermuda as a cursed ‘Isle of Devils’. Today’s entrepreneurs and venture capitalists hold no such qualms about
Almost 900 captive companies are domiciled on the Island with assets of more than $85.3 billion, while nearly half of the world’s top reinsurers and more than 100 risk-management companies call Hamilton home.
As an international financial centre, Bermuda is particularly well- positioned for companies looking to add an offshore component. The Bermuda Business Development Agency (BDA) has been proactively engaged in assisting start-ups, multinationals and other corporate ventures since it was established in 2013.
Bermuda is a British Overseas Territory with a Westminster-style government. We have a legal system based on British common law, a mid-Atlantic business friendly time-zone—one hour ahead of EST and four hours behind GMT—and daily direct flights to Gatwick in the UK and major US East Coast cities. We have significant intellectual capital with a wealth of mind and management physically on the Island.
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