What are the key attractions for new firms looking to set up/build their presence in Bermuda? Have there been any recent successes in attracting more firms to do business with or in Bermuda? If so, what are they?
Tonesan Amissah (TA): The 'elevator pitch' is undoubtedly that Bermuda is one of the world's leading financial centres with a long history of not just providing first-class financial and professional services, but doing so within a 'gold standard' regulatory framework.
The island's independent regulatory body, the Bermuda Monetary Authority (BMA), has emphasised its commitment to the broader asset management industry and Bermuda's fund products, which include the ability to file and launch a fund in Bermuda on a same day basis. Bermuda is now attracting firms who want a quicker, more cost-effective and easier option without compromising the reputation of the fund. Bermuda's first-class reputation makes this possible. This reputation is built upon a tradition of transparency and regulatory effectiveness, complying with the highest of worldwide standards on anti-money laundering, financial crimes and anti-terrorist financing.
Article first published in the HFM Week Special Report Bermuda 2016
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