On 25 January 2022, Justice Shadé Subair-Williams issued a ruling, in the matter of The Attorney General v. Information Commissioner that prohibited Bermuda’s Information Commissioner from requiring the Government of Bermuda to submit documents for her review. This is a fascinating decision in that it...
The enactment of The Stamp Duties Amendment Act 2022 (“SDAA 2022”) earlier this year, amending the provisions of, inter alia, Head 31 of the Stamp Duties Act 1976 (“SDA 1976”), brought a welcome cost saving to those wishing to refinance an existing mortgage where the...
By Stephanie Maloney and Magdalena Grzybulska Sanctions aimed at Russia have been in place since 2014, following its annexation of Crimea and ongoing role in the destabilisation of eastern Ukraine. Sanctions were imposed in a coordinated move by the EU (of which the UK was a...
The Investment Business Amendment Act 2022 (the “Amendment Act”) came into force on 27 July 2022 and introduced a slew of changes to the Investment Business Act 2003 (the “Act”). The changes introduced by the Amendment Act will affect all entities conducting investment business, including some of...
The Cannabis Licence Act (the “CLA”) was passed by Bermuda’s lower house of parliament in February 2021. However, it was sent back to the House of Assembly after Bermuda’s upper house, the Senate, voted against the bill in March 2021. The rejection of the CLA...
The Government of Bermuda has announced its intention to make the companies’ central register of beneficial ownership information accessible to the public. The beneficial ownership register contains information on the owners of the approximately 15,000 companies registered in Bermuda and has information such as the...
In response to the global Covid-19 outbreak, the Bermuda Registrar of Companies issued a notice on 20 March, 2020 in respect of Bermuda companies’ compliance obligations pursuant to the Economic Substance Act 2018 (the “Act”). All in-scope companies are still required to comply with the provisions...
On the 21 February 2020 at the presentation of the 2020/2021 budget statement the Minister of Finance confirmed the Government’s intention to introduce a bill that will reduce the required ownership of a local Bermudian company from 60% Bermudian to 40% Bermudian, while maintaining the...