A Bermuda roadshow aimed at highlighting the advantages of setting up captive insurance companies is to visit two Canadian cities next week.

And it is hoped the trip will bring new jobs to the Island.

The Bermuda Development Agency (BDA) tour — taking in Toronto and Calgary — will be spearheaded by Economic Development Minister Grant Gibbons and also focus on Canadian retailers looking to expand into international markets through an internet-based “e-tail” strategy.

BDA CEO Ross Webber said: “The BDA, with Government, the Bermuda Monetary Authority and our industry partners, is working to educate the Canadian market about the process and benefits of setting up a Bermuda structure as part of their overall international planning.

“We are anticipating that a growth in interest from Canada in establishing a Bermuda presence will result in manned physical operations — and jobs for Bermudians.”

Mr Webber added that the tax information exchange agreement (TIEA) between Bermuda and Canada, signed in 2011, had helped stimulate interest in the Island.

The agreement allowed Bermuda subsidiaries of some Canadian corporations with international operations to be eligible for Canadian tax benefits, including the tax-free repatriation of certain dividends to Canada.

Mr Webber said: “The TIEA between our countries makes it easy and beneficial for Canada and Bermuda to do business together.”

The 15-strong team, including representatives from business, Government and regulatory bodies, will visit Toronto on May 5 and Calgary on May 6.

Special e-commerce sessions will highlight how Canadian retailers who sell goods and services online can use the Bermuda-Canada TIEA in a “new framework for reaching international customers.”

Stafford Lowe, a technology consultant for the BDA, said: “Bermuda’s world-class IT structure can be harnessed by Canadian retailers looking to target international customers.

“Bermuda’s advanced internet connectivity offers retailers a strategic base from which to develop new markets via the power of e-commerce.”