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Bermuda IB highlighted in Hong Kong webinar

A Hong Kong Chamber of Commerce webinar on Bermuda provided its online delegates with insight into the island’s international business platform.

The Hong Kong-based audience of legal and financial sector professionals were told about Bermuda’s unique strengths and opportunities, especially high-net-wealth services, asset management, tech and Bermuda’s Economic Investment Certificate.

The webinar will be followed with a Bermuda mission to Singapore this fall as part of a broader Asia strategy by the Bermuda Business Development Agency.

The delegates were told that as a leader in the world’s fully electronic offshore securities markets, Bermuda’s focus on international financial services has allowed a relatively small island to attain the fourth highest GDP per capita in the world under a transparent and business-friendly taxation system with no tax on profits, income, capital gains or work permits.

The webinar was entitled: “Bermuda as the ideal offshore platform for international business.

It said Bermuda was the captive insurance front-runner for 40 years and is now the headquarters for more than 20 per cent of the 50 biggest global reinsurers and their underwriting operations.

Bermuda was also described as an internationally highly favoured market for insurance-linked securities.

“With the increase in demand for worldwide access to specialist insurance and reinsurance, Bermuda’s innovative and entrepreneurial leadership, as well as its efficient matching system for risk-taking capital, has earned the country the title of the “world’s risk capital”, an online brochure assured.

It also noted that the island oversees 800 investment funds with a net asset value of more than $200 billion.

Webinar presenters included David Burt, the Premier, and David Hart, the CEO of the Bermuda Business Development Agency. The webinar also featured Flora Wong, corporate partner at Conyers (Hong Kong) and was moderated by Andrew Wells, secretary-general, Commonwealth Chamber of Commerce, Hong Kong, and Julia Charlton, chairwoman, Commonwealth Chamber of Commerce, Hong Kong.

The Premier used the occasion to discuss Bermuda’s stability, security and reputation for regulatory excellence with the Bermuda Monetary Authority.

Mr Burt spoke of government support for international business and the leading insurance industry.

Looking to the east: Bermuda's international business platform was the focus of a Hong Kong Chamber of Commerce webinar.(Photograph by David Fox)

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Published July 26, 2022 at 7:40 am (Updated July 26, 2022 at 7:40 am)

Bermuda IB highlighted in Hong Kong webinar

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