Bermuda Streamlines Its Company And Partnership Legislation

On 8 July 2009, the Bermuda House of Assembly passed six bills which aim to improve the operations of businesses in Bermuda. The Bills before the Senate are:

Companies

• The Companies Act Amendment Bill 2009

Partnerships

• The Partnership Amendment Bill 2009

• The Exempted Partnerships Amendment Bill 2009

• The Limited Partnership Amendment Bill 2009

• The Overseas Partnerships Amendment Bill 2009

Stamp Duty

• The Stamp Duties Amendment Bill 2009

It is anticipated that the Bills will receive Senate approval within the next few months.

The passage of these Bills will greatly improve Bermuda's already high standing and increase its competitiveness with other offshore jurisdictions thereby continuing to make Bermuda a premier location in which to do business.