Bermuda remains a popular destination for the world's high
net worth and ultra high net worth individuals, families and
institutions to domicile their wealth. The Island is one of the
most established offshore trust and wealth management
jurisdictions, due in part to its well-regulated legal system and
stable economic and political environment.
The trust and wealth management sector in Bermuda has
experienced significant growth in recent years, an increase of 50%
over 2013. The Island will continue to advance in this sector
through is reputation for quality, an innovative judicial and legal
system and progressive approach to offshore trusts legislation, as
well as an efficient and modern banking and corporate services
A Reputation for Quality
Bermuda's reputation for quality has supported the growth of
the wealth management and trusts sector on the Island.
As Britain's oldest Overseas Territory, Bermuda retains
cultural and political ties to the United Kingdom and has an
extensive history of international cooperation and adherence to the
highest standards of compliance. Bermuda was also the first
offshore jurisdiction to be included on the OECD's white list
of compliant, transparent countries.
Further, Bermuda boasts a deep pool of intellectual capital in
law, accounting, risk and compliance, and trustee and family office
services, which are designed to serve the needs of high net worth
and ultra high net worth clientele. In addition, Bermuda is a
highly collaborative jurisdiction with industry, Government and
regulators working together to provide a business environment that
facilitates speed to markets and innovative services to
The Department for International Tax Cooperation has made certain important announcements with respect to Cayman Islands Financial Institutions complying with their Automatic Exchange of Information obligations.
Now that the United Kingdom has served notice to leave the European Union under Article 50 of the Lisbon Treaty, managers of offshore funds have a clearer timetable for when Brexit will happen, with the UK scheduled to leave the EU in March 2019.
The Limited Liability Partnership Act 2016 (the "LLP Act") came into force in Mauritius on 3 January 2017 and introduces a new corporate structure in Mauritius; the Limited Liability Partnership (commonly known as LLP).
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