Why Bermuda?

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Prime Location
Bermuda Time is in the Atlantic Time Zone, 1 hour ahead of the New York, 4 hours behind London positions Bermuda as an excellent mid-Atlantic location for operating international businesses.  It is extremely easy to access Bermuda by air from most major international centres.  The Bermuda International Airport is served by a number of major international carriers and has direct links to the United Kingdom, United States and Canada. Flying time to New York or Boston is approximately two hours.  Furthermore, it's appeal as a semi-tropical paradise where its people are well used to catering to overseas visitors, Bermuda is an excellent location to hold business meetings.

 

Political stability
Bermuda is politically, economically, and socially stable and thus provides a favourable environment in which to conduct business. Bermuda is committed to maintaining its integrity as an international offshore financial centre, and to maintaining its reputation of providing exceptionally high standards.  The currency of Bermuda is the Bermuda dollar (BD$) which is at par with the U.S. dollar. Both currencies may be used in Bermuda.
 

Uncomplicated legal framework
The current framework is uncomplicated (based on English common law). The absence of burdensome restraints imposed by complex legal and regulatory frameworks sometimes found in other centres allows for a streamlined and speedy application process.

 

Tax neutral environment
There are no income taxes, withholding tax, capital gains tax, capital transfer tax, estate duty or inheritance tax payable in Bermuda.

 

Good infrastructure
Bermuda's excellent telecommunications network and transportation facilities link Bermuda directly with countries around the world. These include telephone, facsimile, internet, cables, satellites, telex, and other similar services.  There are a number of local and international courier services available and delivery to other countries can normally be achieved within one or two days.

 

Excellent Support services
Banking, trust, investment, accounting, custodial, and legal services, which are necessary to support international business, are of a high international standard. These are supplemented by local management, financial, and corporate service companies.

Bermuda has been utilised as an offshore financial centre for international companies dating back to World War II. Due to its geographical proximity to the United States, Bermuda has benefited greatly by the decision of US companies in particular, choosing it as the preferred jurisdiction in which to carry out international business activities. More recently, an increasing number of European and Far Eastern entities have also established companies in Bermuda.

Bermuda is recognised internationally as a favourable place to base international business operations. This is evidenced particularly by the fact that Bermuda has the largest captive insurance industry in the world.