Bermuda: A Premier International Business Centre

Bermuda is a pre-eminent international business centre. The island has a strong economy based upon international business and tourism. A sophisticated infrastructure offering world-class services in accounting, legal, telecommunications, computer and banking support services. As a successful tourism resort it has excellent hospitality facilities and offers convenient air connections from major US, Canadian and UK cities.

Bermuda’s development as an offshore centre has been jointly led by a working partnership between the Bermuda government and the private sector. Careful steps have been taken to ensure that the regulatory environment is attractive to potential corporate investors and that a highly professional and efficient environment is created to support the needs of international business.

More than 11,000 international companies are registered in Bermuda including insurance and reinsurance, collective investment schemes, trusts, foreign sales corporations, aircraft and ship leasing companies, and holding companies for intellectual property and software.

Bermuda is perhaps best known as a leading insurance and reinsurance market. With over 1,500 companies registered and a capital base in excess of $116 billion, the insurance market is the largest sector of the Bermuda international business industry. Additionally, Bermuda has experienced significant growth in other areas, especially the investment industry, with more than 1,200 collective investment schemes registered with net assets in excess of $133 billion. Bermuda is fast becoming the offshore jurisdiction of choice for the world’s leading fund managers.

More recently, Bermuda has established itself as a leading eCommerce jurisdiction and is one of the first countries in the world to pass legislation which establishes the legal principles for the conduct of eCommerce and the processing of electronic transactions.

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