Bermuda is the world’s leading domicile for captive insurance companies, with over 600 active captive licences on its register generating over US$24 billion in gross written premium. Having formed the first modern captive in...more
The operating provisions of the corporate income tax regime for Bermuda legislation will be effective for fiscal years beginning on or after 1 January 2025. This will apply to "Bermuda Constituent Entities" of an "In Scope...more
Prior to 31 March 2023 an application could be made for an “Economic Investment Certificate” by non-Bermudian individuals who invested at least BM$2.5 million in the island. The certificate was valid for a five years, after...more
Catastrophe bonds using industry-loss triggers have become increasingly popular among ILS investors and cedant sponsors. Industry loss catastrophe bonds pose less adverse selection risk from the point of view of...more
2022年半ばの私共香港オフィスによるバミューダ及びケイマン諸島会社のIPOのテーマとトレンドレビューは、香港とニューヨークの二都市の市場についてでした。2年後の今、香港市場は引き続き、NYSE/Nasdaqの台頭に対して苦戦しています。2024年、アジアに拠点を置く企業のIPOの現状はどうでしょうか？...more
This edition of the Bermuda Public Companies Update summarises significant transactions involving Bermuda companies listed on the New York Stock Exchange (NYSE) and Nasdaq in the first half of 2024. Global Market Update -...more
Bermuda, the Cayman Islands and the British Virgin Islands (BVI) are among the most prominent offshore jurisdictions. All three enjoy a strong global reputation, with modern, business friendly corporate laws and effective...more
The Personal Information Protection Act ("PIPA") comes into full force on 1 January 2025. All organisations in Bermuda are expected to be in compliance with it by that date – time is running out! The Privacy Commissioner...more
In a landmark move on 27 December 2023 the Bermuda Government took a significant step by adopting the Corporate Income Tax Act 2023 (the “CIT Act”), a pivotal piece of legislation that promises to reshape the island’s...more
When I last reviewed the themes and trends we are seeing for IPOs of Bermuda and Cayman companies from our office in Hong Kong in mid-2022, it was very much a tale of two cities. Two years later, there is little to indicate...more
We are pleased to bring you the Conyers Norway Bulletin for 2024, in which we highlight developments affecting Bermuda incorporated companies in the Norwegian market over the past year. The Oslo Børs continues to serve as...more
The Economic Substance Act 2018 (the “Act”)1 requires Bermuda-based entities that are carrying on a “relevant activity” in a relevant financial period and entities claiming “non-resident entity” status under the Act to file...more
Read the full advisory All authorised and registered Bermuda investments funds having a financial year end at December 31 should be finalising their annual filings with the Bermuda Monetary Authority, which are due by June...more
In recent years, demographic changes and macroeconomic factors have led to significant growth in insurance markets. Within insurance markets, a much more active market in trading “back-books” of insurance liabilities has...more
Despite mounting environmental concerns and political pressure around the use of private jets, the private aviation sector continues to experience strong growth, particularly in the Middle East and Asia. With increasing...more
The Bermuda Monetary Authority (the "Authority") released its Digital Asset Business Single Currency Pegged Stablecoins (SCPS) Consultation Guidance (the "Guidance"). The Guidance seeks to provide information and...more
Is it possible for a debtor company to issue debt (such as bonds) and contractually agree for that debt to rank lower in priority than debts owed by a company to other unsecured creditors? This article examines the commercial...more
The Stock Exchange of Hong Kong Limited (the Exchange) implemented its reforms to the GEM Listing Rules on 1 January 2024. For companies currently listed on GEM, one of the key changes is a new streamlined transfer...more
In Ho Kwok Leung Glen, Hau Kai Ling and Ge Jun v Nan Hai Corporation Limited [2024] SC (Bda) 2 Civ, 31 January 2024, the Supreme Court of Bermuda (the “Court”) rejected the Plaintiffs’ application for a declaration that seven...more
In response to the Pillar Two global minimum tax rules (the GloBE Rules) set out by the Organisation for Economic Co-operation and Development (OECD), and following three rounds of public consultation, in December 2023 the...more
Further to the Bermuda Monetary Authority's ("BMA") consultations with respect to proposed enhancements to the regulatory regime for commercial insurers and insurance groups, the following legislation will become operative on...more
Bermuda is a British Overseas Territory with a parliamentary legislature and has been largely self-governing since 1620. It has economic, legal and political stability which attracts international businesses and...more
In recent years, the global markets (predominantly in the US) have experienced a significant surge in hostile takeovers, largely due to the COVID 19 pandemic, which impacted public companies' equity values and ultimately...more
While those running companies may be aware of the numerous management and accounting breaches that can give rise to civil liability, there is generally less recognition of the possibility that breaches can also give rise to...more
With its well-respected regulatory regime and highly regarded professional services industry, Bermuda continues to be an ideal location for the creation of an international philanthropic or charitable structure. Companies and...more