Business Bermuda Nexus — November 2012
It is an election year in the United States, and, as this article goes to press, America is in the process of choosing its direction for the next four years. This year has seen sharpened rhetoric, heightened partisanship, and Bermuda once again found itself in the cross-hairs of debate about U.S. tax and economic policy.
For Bermudians, this is often a troubling time as we find ourselves under attack with no vote in the election and no voice to defend ourselves. Interest in Bermuda from everyday people in the complex role that we, as a jurisdiction, play in the global economy as an important partner to U.S. businesses and ultimately almost every U.S. citizen seems limited at best. There is no doubt that we live in an increasingly complicated world. The interconnectedness of economies has created broad alliances and new dependencies, which are designed to encourage cooperation and drive the free flow of capital with the goal of creating opportunities for profit, employment, and growth. In a protracted period of slow economic stagnation and struggle in almost every corner of the world, uncertainty leads to escalating tensions between people - loosely defined as the ‘haves’ and the ‘have nots’…
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Briefings from Appleby
Financial institutions in Bermuda will soon be obliged to provide information to foreign tax authorities relating to the financial affairs of US and UK resident clients.
The offshore jurisdictions are thought to be secretive, with banking secrecy being an important part of what those jurisdictions offer to businesses and individuals who use them.
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