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Bermuda

Bermuda is one of the few remaining British Overseas Territories and is located in the Atlantic Ocean about 760 miles southeast of New York City. It is self-governing internally while the United Kingdom is responsible for internal and external security and international affairs. Bermuda’s governing structure is based on the Westminster model with a bi-cameral legislature, comprising the House of Assembly and the Senate, and an independent judiciary. Our laws are based on British statutory law and common law in effect on July 11, 1612 as modified by Bermuda’s own legislature. Our courts comprise the Magistrates Courts, the Supreme Court and the Court of Appeal, with the Privy Council serving as Bermuda’s highest court of appeal.

Bermuda is politically stable and has a strong economy based on international business and tourism.
The island is a leading global offshore centre for insurance and reinsurance, fund administration, trust services and many other financial services. It provides sophisticated banking, legal, accounting and other business services to international companies and individuals.

Bermuda's system of regulation is based on three primary goals: the protection of Bermuda's integrity as an international financial centre, the maintenance of international standards, and the provision of an attractive business environment.

Bermuda has a strong and effective financial services regulatory environment, supervised by the Bermuda Monetary Authority, which is under continual review to ensure that it meets international standards for investor protection. The Bermuda Monetary Authority has responsibility for regulating banks and deposit-taking companies, investment providers, trust companies, collective investment vehicles and the Bermuda Stock Exchange (BSX), the world's largest offshore, fully electronic securities market. The BSX is a full member of the World Federation of Exchange and is recognised by the UK Financial Services Authority and US Securities Exchange Commission.

Bermuda has entered into information exchange agreements with many countries and is on the OECD’s “white list” in recognition that it meets international standards for tax transparency. Also, Bermuda has implemented an anti-money laundering and anti-terrorist financing regime under the supervision of the independent Financial Intelligence Agency, which is compliant with international standards.

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