Bermuda Monetary Authority to regulate corporate service providers
On 1 August 2012, the Bermuda government passed the Corporate Service Provider Business Act 2012, which regulates corporate services providers servicing clients of Bermuda who establish and maintain companies and partnerships on the island. The act came into operation on 1 January 2013, with a transition period of 12 months. Appleby Services (Bermuda) will be applying to become a licensed corporate service provider under the act.
ASBL welcomes the licensing and ongoing regulation of the business of corporate service providers by the Bermuda Monetary Authority (the “BMA”). Not only does this step reinforce Bermuda’s reputation as a robust and well-regulated jurisdiction, this Act also paves the way for the streamlining of certain procedures, such as the processes of incorporating companies, establishing partnerships and transferring shares…
If you are registered and logged in to the site, click on the link below to read the rest of the Appleby briefing. If not, please register or sign in with your details below.
News from Appleby
News from The Lawyer
Briefings from Appleby
Bermuda’s legal framework facilitates the creation of flexible and economically viable co-investment vehicles within a stable and business-friendly jurisdiction.
Feltham v Bouskell provides a cautionary tale for lawyers regarding the need to act quickly upon the receipt of instructions from elderly or ill clients.
Analysis from The Lawyer
The past quarter has been busy for the offshore sector as firms have looked to capitalise on globalisation, while workflow has remained high
Business is booming in the Isle of Man, a small jurisdiction that thinks big