Tag: Bermuda
Bermuda funds on fast track as cost creep clouds Cayman
(CNS Business): Bermuda’s new low-cost, fast track regime for hedge funds is gaining traction, while frustration builds over the growing cost and regulation associated with a Cayman launch. Although the numbers involved are quite modest, industry insiders remain concerned that cost and regulatory creep in Cayman could lead to a tipping point where the conversation […]
Cayman trust law must evolve to stem flight to Bermuda
(CNS Business): Cayman trust practitioners have again highlighted their concerns over a “flight to Bermuda” in a key area of trust restructuring work, where they say statutory Cayman trust law has failed to evolve.
Bermuda in sights for Cayman law firms
(CNS Business): Two Cayman law firms have announced plans to establish an office in Bermuda, highlighting a resurgence in international business for one of Cayman’s key offshore competitors. While Cayman sees a regular influx of law firms from abroad, an international firm has never set up in Bermuda before, so assuming all the relevant regulatory clearances […]
Bermuda green lights casinos
(CNS Business): Amid debate and controversy, Bermuda has passed legislation to allow casino gaming on the island. After a 10-hour debate in the House of Assembly the Casino Gaming Act 2014, tabled by Tourism Minister Shawn Crockwell, was passed in the early hours of Saturday morning. This follows the Cruise Ship (Casino) Act 2013, passed in […]
Bermuda waits for level playing field on ownership register
(CNS Business): The Bermuda government has said it will not be creating a publicly available register of beneficial owners of firms domiciled there before the UK, the USA and Canada all adopt the same type of access. Despite receiving similar pressure as the Cayman Islands government from the UK to create a register that will be […]
Bermuda Sun closes it doors
(CNS): The Bermuda Sun is to close down following its final publication on July 30 after serving the island 50 years. The newspaper’s management said that “the decline in advertising revenues over the past decade, exacerbated by the challenging economic climate and the impact of digital media on the print industry, has made it increasingly […]
US federal contracts denied to firms in ‘tax havens’
(CNS Business): The Cayman Islands and Bermuda were targeted by  the US House of Representatives Congress last week when it voted to prevent companies that moved to the two jurisdictions from the US from winning certain energy and water federal contracts. Other low-tax counties, such as Ireland and Switzerland, were not included in the amendment […]
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