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Alternative Market Briefing

Tax-neutral status, speed to market, and local talents make Bermuda attractive as business hub

Friday, January 05, 2018

Komfie Manalo, Opalesque Asia:

Bermuda's tax neutral status, speed to market, and excellent local talent base make the island and attractive jurisdiction to engage business. These are also the reasons why Centaur Fund Services chose Bermuda as its second global hub, says the firm's Chief Operating Officer Marc Weaver.

Weaver told participants of the latest Opalesque 2017 Bermuda Roundtable that the tax-neutral status of Bermuda is important to Centaur as a global business, as well as the connectivity to New York and London is also critical.

He stated, "Having a pool of talent, and the ability to hire people here relatively easily to work in specialized positions, was vital. The island's reputation and credibility with our clients and investors, as well as the regulator and the political stability…all of these were very important considerations as Centaur was thinking about where to expand its operations into."

Speed to market, crucial to operations

Weaver explained that speed to market is another important part of entering market in North America, and Bermuda made this possible for Centaur. He said Centaur incorporated the Bermuda company at the end of 2015 and receive their fund administrator license from the BMA by June 2016.

The Bermuda Government alongside the Ministry of Economic Development assisted Centarul......................

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