In 2023, the 2021 Economic Investment Certificate and Residential Certificate policies were revised and combined to create a single policy known as the Economic Investment Residential Certificate (EIRC) Policy, which came into effective on 31 March 2023. The EIRC policy provides a pathway for non-Bermudian...
There is a growing global context within which the board of directors of large corporates are starting to be challenged, both in boardrooms and in the courts, concerning company policy and execution surrounding climate change related objectives. More particularly, the most recent high-profile example is that...
Jeremy Leese is a director of MJM Limited and head of the corporate and finance department. Jeremy’s practice focuses on corporate finance, mergers and acquisitions, ship and asset finance, banking, capital markets, project finance, international real estate finance and corporate reorganisations, as well as regulatory...
The Government of Bermuda has issued a consultation paper titled “Introduction of Corporate Income Tax in Bermuda” (“Consultation Paper”). The Consultation Paper requests feedback from the public on the proposal to change the tax regime in Bermuda. The proposal set out in the Consultation Paper...
Jason Hayward, the Minister of Economy and Labour, recently released Bermuda's economic development strategy for 2023 – 2027 (the “EDS”). The document consolidates initiatives underway to drive economic growth and investment in the country, aiming to create a more diversified economy through policies that build...
The economic substance regime has now been in place for four years. As such, there have now been three cycles of annual economic substance declaration (“Declaration”) filings made with the Registrar of Companies by entities in scope of the economic substance requirements. The information collected...
The Supreme Court for Bermuda: In the matter of US Holdings Ltd [2023] SC (Bda) 13 Civ, confirmed that there is nothing inherently abusive in presenting a winding up petition and applying for the appointment of joint provisional liquidators (JPLs) with full powers (as opposed...
On 24 March 2023, the Court of Appeal issued its first ruling regarding the Public Access to Information Act, 2010 (“PATI”) and the function of the Information Commissioner, who is charged with administering that legislation. The situation, giving rise to the appeal, arose from a request...