Hashtag: #PanamaPapers

Asian Growth Ltd Proposes Move To Bermuda

Asian Growth Ltd Proposes Move To Bermuda

Citing the “adverse publicity” following the release of the Panama Papers, the Asian Growth Properties has proposed to move their registration from the British Virgin Islands to Bermuda, saying they believe “Bermuda has a highly regarded regulatory regime” and is “the domicile of choice of many listed companies.” In... Read more of this article

Offshore Centres: ‘Separating Fact From Fiction’

Offshore Centres: ‘Separating Fact From Fiction’

“The saga of the Panama Papers has ignited a sensationalistic firestorm that threatens many reputations,” BDA CEO Ross Webber said at a speech in London, adding that “I’m sure anyone here from an offshore centre will agree we have all been the convenient whipping boys for hypocritical nations, self-serving politicians, and crusading... Read more of this article

Premier Dunkley Writes To UK Opposition Leader

Premier Dunkley Writes To UK Opposition Leader

Premier Michael Dunkley wrote to UK Opposition Leader Jeremy Corbyn to provide information about Bermuda in light of the Leader of the Opposition’s recent comments in Parliament about the Island in the wake of the Panama Papers’ release. Mr Corbyn — who had previously suggested that the UK should consider imposing “direct rule” over... Read more of this article

Cameron & Corbyn Spar Over OTs In Parliament

Cameron & Corbyn Spar Over OTs In Parliament

UK Prime Minister David Cameron and Opposition Leader Jeremy Corbyn sparred in Parliament over matters related to the Overseas Territories, with Mr Corbyn calling Bermuda a “tax haven”, and Mr Cameron asking how Mr Corbyn plans to “force” the OTs, asking “have we finally found a potential Prime Minister” who wants... Read more of this article

Video: Webber On Solvency II & Panama Papers

Video: Webber On Solvency II & Panama Papers

Bermuda Business Development Authority CEO Ross Webber spoke with A.M. Best at the recent RIMS Conference in San Diego, covering topics including the Panama Papers, the island’s achievement of attaining Solvency II equivalency and more. In describing the segment, A.M. Best said that Mr Webber said “XL Catlin and Qatar Re have announced they... Read more of this article

Column: ‘Key Role Played By Offshore Centres’

Column: ‘Key Role Played By Offshore Centres’

[Opinion column written by Richard Hay] Eye-popping revelations in the Panama Papers have fanned concerns that the so-called “tax havens” lie at the centre of a giant web of criminal conduct. Some, including UK Leader of the Opposition Jeremy Corbyn, have demanded that these centres be “shut down”, and so disconnected from the global grid. The... Read more of this article

Guardian: “Quicker Access To Offshore Records”

Guardian: “Quicker Access To Offshore Records”

The UK crime agency is demanding quicker access to the corporate records of “secretive offshore companies” in Britain’s overseas territories including Bermuda, according to a report by the Guardian. The article said, “The UK crime agency is demanding quicker access to the corporate records of secretive offshore companies in Britain’s... Read more of this article

Durrant: Disclosure Standards Exceed The UK

Durrant: Disclosure Standards Exceed The UK

Financial secrecy only exists where there is no register at all and “here in Bermuda, we operate to disclosure standards which have for decades far exceeded those of the UK itself,” said Kimberley Durrant, the UK Representative for Bermuda Government. Ms Durrant’s comments follow after the Financial Times published an article about... Read more of this article

Telegraph: “Triangle In Bermuda Where $$ Goes”

Telegraph: “Triangle In Bermuda Where $$ Goes”

Although we have not been named in the ‘Panama Papers’, the UK’s Daily Telegraph has run a cartoon on their front page showing a man reading a “Panama Tax Havens” newspaper, and a caption below saying “There’s a triangle in Bermuda where all our money goes”. The ‘Panama Papers’ — a leak of 11.5 million... Read more of this article

Cayman Finance CEO: ‘Need For Understanding’

Cayman Finance CEO: ‘Need For Understanding’

In the wake of the “Panama Papers” and global attention on international financial centres,  Cayman Finance CEO Jude Scott, said the “need for a clear understanding of the positive role International Financial Centres play in the global economy could not be stronger.” Mr Scott’s comment follow after the UK’s Labour Party Leader... Read more of this article

Video: Minister Richards On “BBC Newsnight”

Video: Minister Richards On “BBC Newsnight”

Finance Minister Bob Richards appeared on the ‘BBC Newsnight’ programme to discuss the ‘Panama Papers’ and the suggestion from the UK Labour Party Leader Jeremy Corbyn that the UK should consider imposing “direct rule” over British Overseas Territories if they do not comply with UK tax rules. An 8-minute video of the Minister’s... Read more of this article

BDA: Myth That All Offshore Centres Are Same

BDA: Myth That All Offshore Centres Are Same

Some of reporting on the ‘Panama Papers’ perpetuates the myth that all offshore financial centres are the same, however Bermuda has an extremely positive global reputation built on transparency, compliance and cooperation, the Bermuda Business Development Agency [BDA] said today. The ‘Panama Papers’ are a leak of 11.5 million... Read more of this article

Corbyn: Should Consider “Direct Rule” Of BOTs

Corbyn: Should Consider “Direct Rule” Of BOTs

Following a data leak dubbed the ‘Panama Papers’ showing the law firm registered “more than 100,000 secret firms to the British Virgin Islands,” the UK’s Labour Party Leader Jeremy Corbyn has said the UK should consider imposing “direct rule” over British Overseas Territories if they do not comply with UK tax... Read more of this article