Global commodities trader Trafigura is considering moving a key holding company from the Netherlands to Bermuda, citing the island’s legal and political stability.

The company confirmed to The Royal Gazette that Trafigura Beheer BV, a former parent company of the Trafigura Group, is considering a change to its legal domicile to Bermuda.

“Trafigura Beheer BV, a former parent company of the Trafigura Group, is considering a change to its legal domicile from the Netherlands to Bermuda — an arrangement adopted by several international companies, including in the commodities sector,” the company said.

The company added: “Bermuda was selected because it is an international business jurisdiction that has a stable political system and strong legal framework, providing businesses with predictability and security.”

Trafigura said TBBV would remain tax-resident in Singapore.

The entity was originally established in the Netherlands in 1993 by former employees of Marc Rich + Co, the commodities trading house that later became Glencore. It served as Trafigura’s parent company until a restructuring in 2015, when a Singaporean entity became the group’s parent company.

TBBV remains the structure through which Trafigura employees own shares in the business, Bloomberg reported. Trafigura remains employee-owned, with about 1,400 employee shareholders globally.

In its e-mail to the Gazette, the company also pointed to a broader industry trend, noting that rival commodities trader Mercuria had recently redomiciled its top holding company to Bermuda while maintaining tax registration in the United Arab Emirates.

Bermuda has long served as a jurisdiction for international holding companies and other similar commodity-related groups. Commodity trader Noble Group was incorporated in Bermuda during its major multinational restructuring.

Trafigura has faced a series of high-profile legal and compliance challenges in recent years, including a US bribery settlement in 2024 and ongoing fallout from a major nickel fraud case that resulted in hundreds of millions of dollars in losses, according to reports.