In December, Bermuda passed an amendment to its Companies Act to modernise the region’s legal framework. Appleby’s Clive Langley and Steven Rees Davies outline the key changes
For a long time Bermuda has been considered by many as one of the premier offshore jurisdictions owed, in part, to its well-established legal system based on English common law and its modern, sophisticated regulatory regime. Company law is at the core of every successful financial centre and it is imperative for countries such as Bermuda to stay current in terms of their legal framework in order to maintain a competitive advantage. This need results in more frequent amendments to legislation.
