The European Union has removed Bermuda from Annex 1 of its list of non-cooperative jurisdictions for tax purposes (the ‘blacklist'), effective 17 May.

As part of the Government of Bermuda's commitment to addressing and implementing the European Union's economic substance requirements, the Economic Substance Amendment Regulations 2019 ...

Non-resident entities will be required to provide sufficient evidence to the Registrar of Companies to support their tax residence in a jurisdiction outside Bermuda.

Further to our Alert of 30 December which outlined recent important amendments to Bermuda's Economic Substance legislation, we are now pleased to provide a more detailed Memorandum on Bermuda's economic substance regime, ...

Any entity claiming to be tax resident outside Bermuda will be required to provide relevant information to the Registrar of Companies to support its claim.

Our last quarterly update on the developments of the economic substance regimes in the British Virgin Islands, the Cayman Islands and Bermuda related largely to reporting procedures and deadlines...

New regulations in Bermuda, the British Virgin Islands (BVI) and the Cayman Islands came into force at the start of 2019

In October 2016, the Department of Statistics released its "Facts & Figures 2016" which sets out in summary form some of the key indicators of Bermuda's economic and trends.

The Economic Substance Amendment Act 2019 became operative on 28 June 2019. Bermuda Managing Partner Tim Faries and Partner Sally Penrose outline the latest developments in Bermuda's Economic

The Digital Asset Business Act 2018 (DABA) became operative on 10 September 2018. The initial application fee is $2,266.

A new Progressive Labour Party Government signalled its intention to build "a better and fairer Bermuda" by "ensuring social mobility and removing social inequality" through economic growth when its legislative agenda ...

The Economic Substance Act and the Economic Substance Regulations became operative on 31 December 2018 to address concerns raised by the European Union (EU)

In Bermuda, our most popular posts and publications brought you insight into our Corporate practice, along with regulatory updates, reflections on trust disputes and immigration news.

Bermuda's economic substance regime has been brought into closer alignment with the regimes implemented by other jurisdictions named in the European Union's Code of Conduct Group's call in 2018 for substance laws.

Walkers (Bermuda) Limited has successfully completed the Island's first Class B Registration, since the Investment Business Amendment Act 2022 came into force in July 2022 (the "Amendments").