Respectability: Bermuda’s Stock-in-Trade

It is no secret that Bermuda has become the domicile of choice for ocean shipping companies wishing to list equity and register debt on the US capital markets (see Chart 3). The oldest self-governing colony in the British Commonwealth is tax “neutral,” exempt from foreign exchange control, has a reputation for political and economic stability which is soothing to investors, and is so close to the US that one would have little trouble traveling from the island to New York for a breakfast meeting.

Bermuda is also well-known for its professional infrastructure – with a community of lawyers, bankers and accountants skilled in dealing with issues germane to offshore company administration and a government which is committed to ensuring a stable business environment. Even the time zone is ideal, with a geographic situation that allows the Bermuda-based company to do European business in the morning and American business after lunch. And then there is the golf…

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