How many companies have left?
May 7, 2012Dear Sir,I wonder if you could inform us, the public how many companies have left Bermuda since 2008, and how many have come in?On a similar note, how many local businesses have gone under and how many new ones have opened up in the same length of time? I think we would all like to know where we are going and how bad it is.SEEING IT AS IT ISPembrokeEditor’s note: It is difficult to say how many companies have “left Bermuda” or how many local companies have “gone under”. However, according to the Registrar of Companies website (www.roc.gov.bm), there were 3,295 local companies registered in 2008 and there were 3,211 on March 30, 2011, a decline of 84. There were 15,631 international entities incorporated on the Register at the end of 2008 and there are now 14,706, a drop of 925. The vast majority of international entities are exempted companies of which there were 13,859 in 2008 and there are now 12,757. The rest are various forms of partnerships and other classifications.