BEDC Expands Partnership With CHW
Bermuda Economic Development Corporation [BEDC] has expanded its partnership with Cox Hallett Wilkinson to offer enhanced and discounted legal services.
A spokesperson said, “The Bermuda Economic Development Corporation [BEDC] is excited to announce an enhanced partnership with law firm Cox Hallett Wilkinson Limited [CHW], aimed at providing BEDC clients with expanded and discounted legal services. Partnered since 2017, this enhanced collaboration builds on CHW’s continued support for local entrepreneurs and introduces additional services to further assist BEDC businesses.
“CHW has committed to extending its comprehensive legal services to BEDC-registered entrepreneurs. This includes advising on the appropriate legal structure for their business, completing necessary documentation for forming limited liability companies or partnerships, liaising with relevant regulators, and now with this enhanced offering, providing post-formation support such as regulatory filings and corporate organization.”
Mrs. Erica Smith, the Executive Director of the BEDC, commented, “We are thrilled to enhance our partnership with Cox Hallett Wilkinson. This collaboration ensures that our clients have access to top-tier legal services at reduced costs. With our business register of nearly 2,500 registered businesses, our communication database of nearly 3,500, and an average of 700 clients served annually, many require legal assistance to incorporate their businesses or establish limited liability companies. This partnership provides them with excellent professional support, making their entrepreneurial journey smoother and more cost-effective.”
Janice Gutteridge, Director and Head of Corporate of Cox Hallett Wilkinson Limited, added, “CHW is dedicated to supporting local businesses by providing legal guidance that ensures their new ventures are structured optimally and safeguarded. We are excited to work with passionate entrepreneurs and assist them in navigating the complexities of entering the local market, protecting their personal and business interests.”
The spokesperson said, “Through this enhanced partnership, BEDC members can access a wider range of services provided by CHW’s corporate services provider, Coson Corporate Services [Coson]. Coson is offering discounted annual fees for providing corporate services to BEDC clients, including arranging meetings, boardroom facilities, maintenance of corporate records and statutory registers, completion of Bermuda corporate filings, and assistance with bank account opening and maintenance. They will also ensure compliance with beneficial ownership requirements and safekeeping of corporate documents.
“In addition to the discounted fees already provided for company or LLC formations, Coson has committed to providing additional discounts on the new corporate service provider fees for BEDC-registered and referred clients for the first 4 years after LTD and LLC formations as follows:
- Year 1: 68% discount
- Year 2: 45% discount
- Year 3: 18% discount
- Year 4: 15% discount
“Startups and established businesses wishing to take advantage of Coson’s discounted services will first need to register their enterprise with BEDC and then will be referred to Coson by BEDC.
“Dozens of entrepreneurs have benefited from the existing partnership to date, and with the enhanced services, both BEDC, CHW, and Coson are excited about this number increasing while shoring up Bermuda’s local small and medium enterprises.
“For more information about the new partnership or BEDC services, please call 292-5570 or email info@bedc.bm.”
