Bermuda, a tiny archipelago outcropping in the mid-Atlantic 590 miles east of North Carolina, is only a speck on the world map. On a global economic scale, however, Bermuda has long been recognised as a leading offshore financial centre. International business now contributes greater than 50% of Bermuda's GDP, allowing Bermuda to have one of the highest incomes per capita in the world.
Bermuda has also emerged as one of the leading centres for the establishment of offshore mutual funds, with several hundred mutual fund companies registered, in addition to unit trusts and limited partnerships. Bermuda attracts international business because of its stable economic and political environment, excellent communications, secure legal framework for financial and insurance operations, favourable tax structure, and the quality of service of its financial institutions.
