Kendaree Burgess, Managing Director of the Bermuda Business Development Agency (BDA), represented Bermuda alongside panellists from other prominent offshore centres.
At the recent Citywealth International Financial Centre Forum in London, Bermuda showcased its robust financial sector, emphasizing its status as a trusted and forward-looking jurisdiction amid global economic uncertainties.
Kendaree Burgess, Managing Director of the Bermuda Business Development Agency (BDA), represented Bermuda alongside panellists from other prominent offshore centres. She highlighted Bermuda's commitment to strong regulation, compliance, and integrity, distinguishing it as a jurisdiction that values quality over quantity. Burgess noted that Bermuda is not a mass-market jurisdiction but one that has earned global respect through its regulatory standards.
Key developments underscored during the forum included the implementation of the Digital Asset Business Act and the introduction of a 15% corporate income tax for large multinational enterprises. These reforms aim to provide clarity and confidence for investors and institutions. Burgess emphasized that Bermuda recognized early on the significance of digital assets and proactively established a regulatory framework to attract major players like Circle, Coinbase, Kraken, and XBTO.
The forum also highlighted Bermuda's appeal to family offices and high-net-worth individuals seeking stability amid global tax and political changes. Randall Krebs, Director at Harbour International Trust Co, remarked that Bermuda is becoming a preferred destination for trusts, especially as families seek alternatives to jurisdictions affected by changes in the UK non-domiciled regime and other uncertainties.
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