Bermuda: Offshore Banking

The elimination of tax evasion is a laudable objective. Governments miss out on revenue if assets are moved to other jurisdictions to evade taxes, and the impact is greater in poorer countries.

It is hard to be definitive on the possible effect of Mr. Trump's policies on Bermuda, and the offshore world generally...

This article explores latest developments in Europe concerning the fight against money laundering. While focused on Europe, the issues at stake are global in scope so we hope readers from all regions find this item of value.

Bala Nadarajah is Senior Counsel and Head of the Corporate Department at ASW. He is considered a leading voice in insurance law and regulation in Bermuda and is listed among the world’s leading insurance and reinsurance lawyers in the Euromoney Legal Media Group’s Expert Guides.

The state of our Bermuda insurance industry is strong. This is a testament to the robust resilience of the Bermuda insurance market-place which continues to prosper and evolve in arguably some of the most adverse conditions the insurance industry has ever faced in the wake of the tragedy of 9/11 and the collapse of Enron.

The Investment Business Act 2003 (the IBA 2003) was recently passed by the Bermuda legislature and became operative on 30th January, 2004. The IBA 2003 repealed the Investment Business Act 1998 (the IBA 1998) and substituted in its place a new and more refined regime for regulating investment business in Bermuda.