A Hub for the Global Enterprise:
Why You Should Consider Starting a Business in Bermuda, Too
I
f you mention Bermuda to most people, chances are they will either think of its famous beaches or its high standard of living. However, these two elements do not tell the full story, as striving for a unique profile has always set Bermuda apart from other interna onal financial centers.
For many decades, Bermuda’s pursuit to meet high standards and align itself with the best prac ces worldwide has dis nguished it from other offshore centers. It’s all about reputa on and quality over quan ty, and such companies like Airbus, Boeing, BMW, Land Rover, Sperry and Bremont, 82 europeanbusinessmagazine.com
Louis Vui on and Moet & Chandon chose to register in Bermuda for all the same reasons. The offshore financial centers in the Caribbean have become economically successful in the last 30 years. Today, the Cayman Islands, Bermuda, Bri sh Virgin Islands appear in the most important ranking worldwide, the Global Financial Centres Index (GFCI), which is the main tool that points out how a rac ve financial centers are around the world and allows us to understand their growth and compe veness over me. The factors taken into account include
evidence on the compe veness of the telecommunica ons infrastructure, informa on on how favorable are the regula ons for companies, government effec veness indexes, and indexes on the perception of corrup on, among others. According to the latest GFCI ranking, Bermuda is now the third-highest ranked financial center in the La n America and Caribbean region, having been overtaken by the Cayman Islands and the Bri sh Virgin Islands. One of the reasons why Bermuda dropped in this list was the fact that
