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The Bermuda Angle, August/September 2020
August/September 2020
Welcome to The Bermuda Angle, the bimonthly round-up of international business news, views and events you need to know about from our world-leading financial jurisdiction.
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Covid-19: Information for Businesses
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Bermuda is open for business and welcoming visitors. For information on travel protocols, click here.Â
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Bermuda Ranks 17th in the World for Broadband Speed
New research shows Bermuda is in the global top 20 for broadband speeds and leads the Northern America region with an impressive average speed of 73.60Mbps (meaning it will take just over 9 minutes to download 5GB HD movie). Bermuda ranks above Singapore (72.75Mbps, 18th), the US (71.30Mbps, 20th) and the UK (37.82Mbps, 47th). Over 557 million broadband speed tests were conducted across 221 countries by Cable.co.uk and M-Lab.
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Bermuda Strengthens Trust LegislationÂ
The introduction of the Trusts (Special Provisions) Amendment Act 2020 means Bermuda’s firewall legislation now provides settlors with an enhanced level of protection and legal certainty by:
Find out more about Bermuda’s trusts and private client offerings here. |
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‘Bermuda Central’ campaign launched To keep Bermuda front of mind for clients and markets around the world a new creative campaign – ‘Bermuda Central‘ – has been launched for digital media. The campaign highlights how Bermuda sets the standard for many global industries under a clear, unifying theme. The campaign is led off by the story of “Continuity Central”, a theme which points to the fact that Bermuda is open for business and has been supporting global clients throughout the pandemic. The campaign then moves on to focus on three further jurisdictional stories: “World Central” [emphasising the island’s superb global business ecosystem], “Transparency Central” [highlighting Bermuda’s gold-standard regulatory and compliance regime] and “Talent Central” [underlining the depth and the quality of available human capital]. The campaign also promotes three relevant industry themes: “Risk Central”, “Tech Central” and “Family Central”.
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Capital Finance International (CFI) Awards Two Bermuda Entities Â
The Bermuda Business Development Agency won the 2020 CFI award for ‘Best Direct Investment Partner (North America)’ while the Bermuda Stock Exchange (BSX) was named the ‘Best Offshore Securities Exchange (Caribbean and North Atlantic Region)’. As of the second quarter of 2020, the BSX had over 1,000 listed securities, including investment funds, debt and insurance-related securities, as well as small to medium enterprise companies. The BSX offers listed issuers speed to market, often in as little as two weeks.Â
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Upcoming ‘Virtual’ Events
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