by MERITAS – Law Firms Worldwide From JD SUPRA

1. What role does the government of Bermuda play in approving and regulating foreign direct investment?

The government of Bermuda welcomes foreign investment in Bermuda and is committed to working with industries and investors in Bermuda to ensure that initiatives are introduced to ensure the success of the international business sector. The Government continues to take proactive steps to introduce significant legislative acts to ensure Bermuda remains an innovative and highly reputable offshore jurisdiction.

Favoured as a premier neutral tax jurisdiction due to its political stability and reputable legal infrastructure with a right of final appeal to the Privy Council in London, Bermuda is an industry leader in insurance, reinsurance, captive insurance, and trust management.

The Bermudan government has delegated its oversight and regulatory duties to an independent entity, the Bermuda Monetary Authority (the BMA). The BMA regulates international business and acts as the gatekeeper for the jurisdiction by regulating and approving applications to conduct business in Bermuda (as more particularly described in question 4 below). Additionally, the BMA develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses, corporate service providers and insurance companies….

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