The ‘Work From Bermuda Residential Certificate’ was launched as of 1 August 2020 and permits individuals to live and work remotely from Bermuda for a 12-month time period. This Guide highlights the key aspects of applying for the Certificate, the criteria for applying and the benefits of living and working in Bermuda under the Certificate scheme.
Tillman v Egon Zehnder Ltd: The English Supreme Court re-examines the enforcement of restrictive covenants – in favour of employers.
Bermuda passed economic substance legislation in December 2018 (ES Law) as part of the international initiatives for fairer taxation globally and, in particular, to address the technical scoping paper of the European Union (EU) for jurisdictions designated by the EU as ‘2.2 Jurisdictions’ (Scoping Paper). This 2.2 Scoping Paper set out criteria relating to ‘economic substance’ of certain entities doing business in or through these 2.2 Jurisdictions. Bermuda is a 2.2 Jurisdiction. The ES Law requires that a Registered Entity (which does not include a trust or partnership without legal personality) carrying on a Relevant Activity comply with certain economic substance and reporting requirements. For information on what business activity constitutes a Relevant Activity and these economic substance and reporting requirements affecting in scope Registered Entities reference should be made to our Memorandum.
Bermuda is quickly becoming a world leader in the financial technology (Fintech) sector by putting into place a bespoke Fintech legislative and regulatory regime. Bermuda’s first major move from a legal standpoint is the implementation of legislation that governs Initial Coin Offerings (ICOs). Bermuda has successfully launched the world’s most progressive ICO legislation in the form of the Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018 which came into effect on 9 July, 2018 and the Companies (Initial Coin Offering) Regulations 2018 and Limited Liability Company (Initial Coin Offering) Regulations 2018 which came into effect on 10 July, 2018.