Bermuda Business Visitor 2025

The inside story on the leading offshore financial centre

2025

Island Expertise. Global Impact Bermuda’s Business Power

• Expert Insights

• The Best Hotels

• Bermuda Economy

• Facts & Figures

• Island Etiquette

• Key Contacts

• Top Restaurants

• Movers & Shakers

• Business Map

Pass me on for a greener Bermuda

CONTENTS

4

Preflight Check

All you need to know when planning your Bermuda trip

6

Inside Info

Inside information that will make you feel like a local

7

Business A to Z

Opportunities in the country that thinks like a company

10

17

11 12 14

21 22 25

16

26

34 35 36

28

38

Why We Are Here

Facts & Figures

CEO’s explain the benefits of being based in Bermuda

All the key statistics about Bermuda

People

The Brief Our self-governing British Colony

History

How Bermudians became commerce chameleons

Counsel from the Consul

Karen Grissette, Former US Consul General, shares her views

Our British ties

Former Governor Rena Lalgie explains

Meet the Island’s famous residents

Talking Points Current topics shaping island life

The Waterfront

district

Your guide to this business

Bermuda Business Map

Your A-Z of all the major Hamilton offices

Boardroom to beach

Essential advice to be well dressed — island style

30

Smooth Sailing

The dos and don’ts that will spare you a blush or two

Our Capital Top ten things you need to know

Office Space A look at all the possibilities

Where to Stay

From luxury waterfront hotels to intimate inns

Dining Out

A surprisingly broad selection of restaurants

42

Corporate Events and Meeting Spaces

Business guide to Bermuda’s premier venues and event planners

31 32

44

33

48

Seal the Deal Understanding our unique ways

Property

buying

All the options, from renting to

Key Contacts

People who can help you make the most of your trip

PRESIDENT & PUBLISHER Ian Coles DIRECTOR OF MARKETING Lissa Fisher ART DIRECTOR Tim Parker WRITERS: Tim Smith Peter Backeberg

Luxury Services and VIP Experiences

Business visitors gateway to Bermuda’s elite offerings

Time Out

Compelling reasons to play hooky while you’re here

Editorial, Advertising & Distribution: PO Box HM 2032, Hamilton HM HX, Bermuda. Tel: (441) 292-7279.

Email: hello@bm.bm Website: www.bermudamedia.bm Bermuda Business Visitor is published annually by Bermuda Media. © 2025 Bermuda Media. All rights reserved. No part of this publication may be reprinted or reproduced without the written permission of the editor.

Bermuda Business Visitor 2025 3

PREFLIGHT CHECK

What you should know before arriving here Allergies Ragweed is non-existent here, but grasses and flower pollens can cause some problems. Also, because of high humidity, moulds and mildews may be an issue.

Bermuda time Twelve hours behind Hong Kong, five hours behind Paris and Frankfurt, four hours behind London and one hour ahead of Atlanta, Boston, New York and Toronto.

Car rentals You won’t see Hertz or Avis signs at the airport, but you can rent small electric cars here. They are fun to drive, and have air conditioning, stereo systems and back up cameras.

With a range of almost 70 miles, they will take you anywhere you want to go during the day. And at night simply plug in and recharge at your hotel. www.oleandercycles.bm/rentals or www.bermitime.com.

Cellular/mobile phones See page 6.

Clearing customs Visitors can bring in 200 cigarettes, 50 cigars, 0.5 kg of tobacco, a litre of wine and a litre of liquor, plus $50 of gifts duty-free.

Those bringing more should give a list, with estimated values, to the airport Customs cashier. Duty is 25%. Fruits,

WORTHWHILE WEBSITES www.bermudaairport.com

Updated flight times and details

www.bermuda.com

News, business and vacation info

www.bermudachamber.bm

Chamber of Commerce resources

www.gotobermuda.com

Official Tourism Site & hotel bookings

www.gov.bm

Official Bermuda Government site

www.bma.bm

Bermuda Monetary Authority

www.royalgazette.com

Local daily paper

www.weather.bm

Bermuda Weather Service

www.bermudamedia.bm

Independent media organisation

www.bernews.com

News headlines

www.nothingtodoinbermuda.com

Entertainment

vegetables and animals are not allowed without a government permit.

Direct dialing to 225 countries.

Bermuda’s area code is 441.

Dress code Advice for men and women, page 28.

Electricity Same as in the US and Canada, 110 volts, 60-cycle AC. Email & internet Island is exceptionally well connected.

All hotels offer WiFi and you can connect throughout Hamilton.

Getting into Bermuda All travellers must carry a valid passport and you must have a return or onward ticket.

Language English, sometimes with an unusual but easily understood accent.

Money matters The Bermuda dollar equals the US dollar, and American money is accepted everywhere. No other currency is accepted at shops, restaurants, hotels, etc, but most major paper money may be exchanged by local banks at fair rates. Credit cards are accepted by almost all shops, rest­aurants and hotels, and there are full-service ATMs everywhere. Still, it’s probably sensible to bring some US cash with you for taxis, tips, etc.

Weapons Firearms and ammunition carry heavy penalties.

Worship Lots of options for Christians, precious few for others. See the local Yellow Pages “Churches” section.

CONSULS Austria

Katarina Hoskins

494-4019

Belgium

Phillippe Dutranoit

232-3902

Canada

Isabelle Ramsay-Brackstone

293-0627

Denmark

Bent Poulsen

295-4806

Finland

John Riihiluoma

295-2244

France

Nicole Haziza

777-5557

Germany

Jens Alers

295-0614

Ireland

John Kane

295-6574

Italy

Sabrina Di Meglio

296-9884

Jamaica

Winston Laylor

295-5264

Luxembourg

Curt Englehorn

295-1082

Mexico

Rod Attride-Stirling

296-8314

Netherlands

Marijke Peterich

236-4578

Norway

C N A Butterfield

295-5519

Portugal

Andrea Moniz

292-1039

Spain

Nola Dean

295-3062

Sweden

Jens Juul

293-7242

Switzerland

Fabian Schonenberg

295-5588

United States 4 Bermuda Business Visitor 2025

295-1342

Electric vehicles are now available to rent

PREFLIGHT CHECK FLIGHT PLAN

Go to www.bermudaairport.com to check for the latest information. In summary, the following airlines serve the island.

From the US and Canada

These airlines serve Bermuda; American Airlines, United, Delta, Jet Blue, Air Canada.

They fly routes from the following East Coast cities: Boston, Miami, Atlanta, Charlotte, Philadelphia, Newark, New York, Toronto.

Generally, flights depart the US East Coast in the morning, arriving early afternoon. They then turn around and arrive back on the East Coast early evening. The only exception to this at press time is the American Airlines flight from Miami, which departs early evening.

The aircraft remains at Bermuda airport overnight and returns to Miami early the following morning.

Flight times from New York and Philadelphia are under 2 hours. From

Miami and Atlanta, approximately 3 hours.

When returning to the US, you’ll avoid long lines at US Customs and Border Protection because there is a ‘preclearance’ station at Bermuda airport. This means that your flight will be treated like an arriving domestic flight, and you’ll be free to head home without delay, or race off to your connecting flight. It also means that any checked baggage will be forwarded to your final destination.

From the UK

British Airways flies from Heathrow to Bermuda. This is the only direct, non-stop flight to Bermuda from Europe. It arrives early evening and the return flight to Heathrow is a ‘red-eye’. Flight time is 7 hours. During the summer, this is a daily service. During the winter it operates 4 or 5 days a week.

BermudAir

In 2023, BermudAir, a new private airline, was launched with a focus on

business travelers. The airline initially operated flights to New York, utilising two leased Embraer E175 aircraft.

However, BermudAir soon shifted its business model, pivoting to serve routes not covered by major US and Canadian carriers, with a greater emphasis on leisure travelers.

The airline now operates flights to New York (Westchester) and Boston four times a week, Toronto three times a week, Baltimore/Washington and Orlando twice a week, and Fort Lauderdale and Halifax once a week.

As a new entrant with only two aircraft, BermudAir is still finding its footing, so its schedule and destinations are likely to remain fluid, especially as the airline navigates challenges such as flight cancellations — inevitable with its very limited number of planes.

PERMISSION TO WORK HERE Can a foreigner make a flying visit to conduct work without permission?

Anyone visiting here to do business with a company incorporated in Bermuda can enter the island as a business visitor provided they work for no more than nine days. However, if they are employed in an overseas branch of a Bermuda-based company, they may work up to 21 days.

In both cases, the sponsoring company must provide the business visitor with a letter, written by the Bermuda host-company, either in the format of a business visitor letter or in the form of a letter of introduction.

Then, before landing, the visitor should place a tick mark in the “Business and

Professional” box on Part A of the Immigration arrival card.

On arrival, the business visitor letter and the duly completed landing card should be presented to an Immigration Officer; there is no fee. Those businesspeople planning to visit without having a sponsoring local company should call the Immigration Department before finalising their Bermuda trip.

Meanwhile, business visitors who expect to be working on the island for longer periods of time should apply for a temporary (three-month) work permit.

If you have any concerns, contact Chief Immigration Officer, Dr. Danette Ming, at (441) 295-5151 or dwming@gov.bm.

PRICE GUIDE Taxi from Airport to Hamilton area Three-course lunch, basic Gourmet dinner for two with wine Pint of beer in a pub Vodka and tonic in an hotel Golf green fees (Port Royal, with cart) A week’s scooter rental Hotel room per night Guest house room per night

$40-$50 $40 $285 $10.75 $16 $180 $297 $562 $228

WEATHER REPORT Maximum air temperature (°C/°F) Jan 19.9 67.8

Apr 21 69.8

July 28.8 83.9

Oct 26.2 79.2

Sea temperature (°C/°F) Jan 17 62.6

Apr 18 64.4

July 26 78.8

Oct 24 75.2

Relative humidity (%) Jan 74.2

Apr 71.8

July 81.6

Oct 77.8

Rainfall (cm/inches) Jan Apr July Oct 14.9 9.7 12.1 15 5.8 3.8 4.7 5.9 Based on 10-year averages Bermuda Business Visitor 2025 5

INSIDE INFO

Tips to save you time, money and trouble here BUSINESS HOURS Business and professional offices, 9 to 5, Monday to Friday. Retail shops, generally 10am to 5pm, Monday through Saturday.

Some retail store open limited hours on Sundays. Grocery stores open Monday to Saturday 7am to 9pm. Many are also open on Sunday 9am to 7pm.

COURIERS Excellent services from here to major cities worldwide, provided by FedEx, DHL and UPS.

FERRIES & BUSES Buses run from major hotels and islandwide into Hamilton from early morning until late at night.

Fares $3.50 to $5 (exact change only accepted). Information: 292-3854. Ferries ply between Hamilton and outlying parishes. Adult fares are $5 each way to the West End, $3.50 on the Paget/Warwick rou­tes. Rental bikes can be taken on the West End ferry for an additional $4.50.

Commuter tokens and passes available.

Information: 295-4506.

MEDICAL & DENTAL Call the hospital (236-2345), explain that you need to see a doctor or dentist and they’ll give you the number of the appropriate professional on call at that time.

If you are suffering from a minor injury or illness, just walk-in for medical

6 Bermuda Business Visitor 2025

attention at HMC Urgent Care, 10-12 Burnaby Street, Hamilton. Tel: 4008378. It is open Mon-Fri: 8am-7pm. Sat: 9am-5pm.

MEETINGS, CONFERENCES & RECEPTIONS Several local hotels are set up to handle everything from a handful to hundreds of delegates with a full range of catering and technical support. Any of the guest properties featured in this publication would be happy to help.

SCOOTERS Anyone over 18 can rent, but be cautious: we drive on the left, and the roads are narrow and winding.

There’s a 22mph (35kph) speed limit and tough drink/driving fines.

Contact Oleander Cycles (236-2453, www.oleandercycles. bm).

OFFICE SERVICES If you need a temporary secretary, messenger, word processing, photocopying, faxing, mail services, meeting or presentation room, video recording or A/V equipment, there is competent, professional help at hand. See ‘Key Contacts’ page 33 POSTAL SERVICES Air mail takes around a week to arrive from the US, Canada and Europe and about the same to reach there from here. The General Post Office, 56 Church Street, Hamilton, is open 8 to 5, Monday to Friday. Tel: 297-7893.

PUBLIC HOLIDAYS New Year’s Day holiday, Wednesday 1st January Good Friday, Friday, 18th April Bermuda Day, Friday, 23rd May National Heroes Day, Monday, 16th June Cup Match, Thursday, 31st July and Friday, 1st August Labour Day, Monday, 1st September Remembrance Day holiday, Tuesday, 11th November Christmas Day, Thursday, 25th December Boxing Day, Friday 26th December TAXES & TIPPING Bermuda has no sales tax. At most restaurants, a 15% or 17% tip is added to the bill. There is no need to tip hotel staff individually

as most resorts assess a fixed gratuity on the final bill. In addition, all room rates are subject to a 7.25 percent “hotel occupancy tax.”

TAXIS All taxis are metered at government-set rates. For a 1- to 4-passenger taxi: $7.90 for the first mile, $2.75 for each additional mile. For a 5- to 7-passenger taxi: $9.95 USD for the first mile, $3.50 USD for each additional mile. Between midnight and 6 am, and all day on Sunday and on public holidays, fares are 25 percent higher for 1- to 4-passenger taxis, and 50 percent higher for 5- to 7-passenger taxis. The sightseeing rate is $50 per hour for a 1- to 4-passenger taxi or $70 per hour for a 5- to 7-passenger taxi. Tip 10%15%. Call 295-4141 or hail a cab with its yellow light on.

TELEVISION Don’t worry, you won’t miss that game, whether it be NFL, NHL, NBA or MLB; Premier League Soccer or Test cricket. Most hotels have cable, and there are several sports bars in town. Local cable also features CNN, BBC World and several business and financial networks. And you might find the Bermuda Channel (cable 3) helpful, too, for dining, shopping and recreational options.

INTERNET, WiFi & MOBILE DEVICES All hotels offer WiFi access and there are a host of Internet Cafes throughout Hamilton. There is free Wifi at the airport.

Bermuda has three cell phone providers, One (700-7000), Digicel (500-5000) and Paradise (900-9000).

They all have international roaming agreements which your mobile device should pick up automatically. Check roaming charges though, which could be substantial. n

Bermuda Inc.

A world of opportunity welcomes you in Bermuda — a country that thinks like a business

Aircraft registration Aviation executives are currently steering Bermuda’s aircraft registry through a period of major turbulence sparked by the war in Ukraine.

The island has long claimed the largest offshore aircraft registry in the world, with 900 aircraft registered early in 2022.

Sanctions imposed by the West after the Russian invasion, however, saw that figure drop to 644 and the Bermuda Civil Aviation Authority’s revenues fall by 85 per cent.

Since then, authority executives have waged a campaign to raise the registry’s international profile and spread the word about the advantages of registering in Bermuda, such as the Register’s flexibility, solid international reputation, and its staff ’s decades of experience in airworthiness operations and regulations.

The registry was founded in 1931 and has been designated a Category 1 operation by the US Federal Aviation Administration.

Contact: Thomas Dunstan, Director General of Civil Aviation, 293-1640 / tdunstan@bcaa.bm

Bermuda Stock Exchange The Bermuda Stock Exchange (BSX) is the world’s leading exchange for offshore securities.

It is home to nearly 90 per cent of the world’s catastrophe peril linked reinsurance securities, which amounts to some $34 billion of insurance-linked securities risk capital outstanding. In total it boasts more than 1,300 listings, including insurance-related securities, debt and investment funds and small- to medium-sized enterprise companies.

The BSX’s listing requirements have been written with institutional and highnet worth investors in mind and aim to streamline the process and provide issuers with speed to market.

All key details of the listed securities are carried on the BSX website to support transparency, encourage liquidity, and

inspire investor confidence.

The BSX was established in 1971 and is a full member of the World Federation of Exchanges and an affiliate member of the International Organization of Securities Commissions.

Contact: Greg Wojciechowski, CEO, BSX, 292-7212 / info@bsx.com

Exempted companies These are companies set up by nonBermudians for the purpose of conducting business outside Bermuda.

They are exempt from the local law that stipulates at least 60 per cent of shares must be owned by Bermudians, but they are generally not allowed to carry on business in Bermuda.

They benefit from the fact the island does not levy taxes on profits, income, dividends, or capital gains.

In 2022, the Bermuda Government suggested exempted company employers could soon face a payroll tax rise, as part of a plan to increase financial yield from international business and give breaks to the working class and small local companies.

That proposed increase did not happen when tax changes were unveiled in early 2023, although the Government later suggested a corporate income tax, due to be introduced in 2025, could be applied to

BUSINESS A–Z 2,000 of the island’s 16,000 international companies.

Contact: Kenneth Joaquin, Registrar of Companies, 297-7574 / kjoaquin@gov.bm

Insurance and reinsurance Bermuda has been carefully developing its insurance and reinsurance industry since the 1940s and is known as the world’s risk capital.

The island prides itself on the strong relationship between government, industry and regulators, and its ability to innovate to meet challenges.

It’s the world’s largest captive domicile, with more than 700 active captive licences, and is the home of underwriting operations for more than 30 major international insurance and reinsurance firms.

It is the largest supplier of catastrophe reinsurance to US insurers: the island’s insurers and reinsurers are expected to cover gross losses of more than $13 billion for Hurricane Ian of 2022, for example, and $9.2 billion for the California wildfires of 2017 to 2019.

In 2022, members of the Association of Bermuda Insurers and Reinsurers generated net written premium of $111 billion, up from $99 billion the previous year.

Intellectual property Bermuda has intellectual property protection for copyrights, designs, trademarks, and patents, all intended to stop people stealing or copying the names or design of your product or brand, your inventions and anything you write, make,

Bermuda Business Visitor 2025 7

BUSINESS A–Z or produce.

In 2023, Bermuda’s Registry General encouraged more people, particularly women, to take part in the intellectual property system, noting that a trademark can protect an entrepreneur’s reputation, distinguish them from competitors and make them easily recognisable to customers.

Contact: Aubrey Pennyman, Registrar General, 297-7705 / apennyman@gov.bm

Greg Wojciechowski, President and CEO, BSX

Investment services From wealth management executives and pension experts to online financial advisers, Bermuda is home to many types of investment managers.

As you might expect from one of the most thriving financial services sectors in the world, there’s great confidence that they are helping people and companies get bang for their buck.

One recent survey by EY showed that despite operating in volatile financial markets, three-quarters of alternative asset fund managers were delivering value that met or exceeded investors’ expectations.

That study also showed Bermuda was using its international relationships to attract hedge and private equity related investment.

Latest statistics show Bermuda has more than 800 investment funds, with a net asset value of $288 billion.

Contact: Bermuda Monetary Authority, www.bma.bm

Legal system Bermuda’s legal system has been based largely on English common law since the island became settled by the British in the early 1600s.

Its four main courts are: • Magistrates’ Court, which decides on sentences for minor cases without a jury; • Supreme Court, where a judge and jury hear serious criminal cases such as violent crime or robberies; it also has a Commercial Division; • Court of Appeal, which sits three times a year to hear appeals from the Supreme Court; • Privy Council, where people can appeal if they are not satisfied with a decision of the Court of Appeal.

The Covid-19 pandemic prompted the 8 Bermuda Business Visitor 2025

courts to increase its use of technology, but also caused a backlog of indictments, which the Supreme Court has since cut by efficient case management.

Old-school values which have served the courtroom for centuries came to the forefront early in 2023, when the senior magistrate announced a crackdown on individuals flouting dress codes by arriving for cases wearing pyjamas, shorts, and flip flops.

Local companies Bermuda aims to protect local ownership by insisting that non-Bermudians can only own a maximum of 40 per cent of shares in any company, other than exempted companies.

The Government has acknowledged this ruling has ultimately meant money being made in Bermuda leaves the island and has faced calls to relax it to stimulate foreign investment.

Many locals, however, maintain the rule is necessary to prevent the island being too heavily influenced by foreign investment.

Contact: Kenneth Joaquin, Registrar of Companies, 297-7574 / kjoaquin@gov.bm

Partnerships The main types of partnerships in Bermuda are: • Local partnerships, composed of Bermudian partners only, which are allowed to conduct business in Bermuda or overseas; • Exempted partnerships, in which one or more of the partners is non-Bermudian.

They may conduct business outside Bermuda from an office in Bermuda and must have a resident representative.

Audited accounts and business records

must be kept on island and accounts produced at the end of each financial year; • General partnerships, in which each partner is liable jointly for any debts incurred. At least 60 per cent of the shares must be owned by Bermudians and they must register with the Registrar of Companies among other registration requirements; • Limited partnerships, which involve one or more general partners and one or more limited partners. The general partners can transact business and are liable for the debts. The limited partner provides funds but does not take part in any management; they are only liable for the amount they have agreed to contribute; • Overseas partnerships, which are formed outside Bermuda, but are granted permission to operate in Bermuda.

A law firm, accounting firm or corporate service provider based in Bermuda is required to help you set up a partnership in Bermuda.

Permit companies A permit company is an overseas company that has been granted permission by the Government to carry out business in Bermuda. They are exempted companies, meaning they don’t have to meet the 60 per cent Bermudian ownership rule, and are able to avoid facing taxes on profits, income, dividends, or capital gains.

Private acts As an alternative to registration, companies may incorporate in Bermuda

by Private Acts that receive approval of the Bermuda Parliament.

This procedure is relatively straightforward and takes up to eight weeks. The incorporation must be advertised in the local newspaper and win the support of a parliamentary committee which will usually ensure its smooth passage through the House of Assembly and Senate.

The bill will list the proposed objects and powers and special features of the company. A memorandum of association must be signed by at least three Bermuda residents.

Contact: Bermuda Monetary Authority, www.bma.bm

BUSINESS A–Z Ship registration Several hundred ships – including commercial vessels, pleasure yachts and cruise ships – are registered in Bermuda.

The island’s shipping register dates back to 1789. Its members receive certain protections and are less likely to be inspected thanks to its association with the Paris and Toyko MOU Whitelists, the United States Qualship 21 programme and the Red Ensign Group of ship registries.

In 2022, the West announced a crackdown on Russian assets in the wake of the invasion of Ukraine. Ten mega yachts registered with the Bermuda Shipping Registry were associated with high-profile Russian nationals at that time, including one of the world’s largest private yachts, Eclipse, owned by former Chelsea Football Club owner Roman Abramovich.

However, the Bermuda Government said it received no cut in revenues and there was no chance Eclipse could be

seized, because there was no Russian individual ownership on the register.

Contact: Francis Richardson, CEO of Bermuda Shipping and Maritime Authority, frichardson@bermudashipping.bm

Trusts Bermuda is regarded as one of the world’s leading jurisdictions for trusts, which are used for multiple purposes, including protecting assets, providing for people’s loved ones, minimising tax, preserving wealth, and establishing benefit and pension plans.

The island’s extensive system of trust licensing is regulated by the Bermuda Monetary Authority, which ensures all trusts are controlled by fit and proper people who carry out their business with skill and integrity and meet a list of requirements.

There’s a depth of trust experience among the island’s renowned financial sector, including more than 170 full

members and students of the Society of Trust and Estate Practitioners.

Bermuda’s trust law is rooted in English law, but the island has enacted its own legislation so trusts can be used for modern commercial or private-client applications.

US-Bermuda Tax Convention Act This legislation means that international companies in Bermuda are not required to pay tax in the United States on their business profits unless they have carried out business at a permanent base there.

American residents can also claim deductions for their expenses attending business conventions in Bermuda.

The convention was signed in 1986, as a result of talks between Bermuda Premier Sir John Swan and leading US political figures and is widely considered to have laid the foundation for Bermuda’s position as an international reinsurance hub. n

10 more reasons to consider Bermuda 1. REPUTATION Bermuda is widely perceived as a blue-chip offshore financial centre, and not just in insurance and mutual funds.

All manner of enterprises wish to operate physically and electronically from or through Bermuda and thereby associate themselves with Bermuda’s good name.

2. COMPETITIVE PRICES Contrary to popular belief, Bermuda is no more expensive for the establishment and management of a company than any other major offshore jurisdiction.

3. DESIGNER COMPANIES Bermuda is unique in offering clients the ability to petition Parliament for the enactment of special legislation in favour of a particular company.

Such private legislation is

ensure probity and solvency; however, the Government does not mandate the business methods of Bermuda companies except as provided in the standard for e-businesses.

The Supreme Court, London

frequently instrumental in effecting innovative structures.

4. ELECTRONIC TRANSACTIONS ACT The ETA itself is an attraction for e-businesses.

With its enactment, Bermuda joined the ranks of the leading nations in the codification of the law of the Internet.

5. REGULATORY FLEXIBILITY Bermuda’s reputation rests on sound but flexible regulation. There is sufficient oversight to

6. TAX ASSURANCE Like most offshore financial centres, Bermuda does not levy income or capital taxes. By way of assurance to foreign-owned companies incorporated here, a certificate is issued by the Minister of Finance confirming that no such taxes will apply to the company until at least 2035.

7. PRIVACY While Bermuda is by no means secretive, the island does maintain confidentiality concerning the identity of sponsors of commercial transactions. Of course, there are various circumstances in which

the public interest (in detecting crime, preventing pornography or preventing the abuse of personal data) over-rides concerns of commercial confidentiality.

8. SPEED As a complement to flexibility, the special partnership between industry and the Bermuda Government means that commercial objectives can be achieved very quickly.

9. PROFESSIONAL EXPERTISE Fifty years of serving the financial community has produced a core of excellent professionals working and living in Bermuda.

10. CUTTING-EDGE TELECOMS The island boasts world-class, stateof-the-art communications systems. n

Bermuda Business Visitor 2025 9

FACTS & FIGURES

Bermuda’s vital statistics GEOGRAPHY Land area 20.5 sq. miles Length 21 miles Greatest width 2 miles Highest point 259 feet Islands in archipelago 138 Farmland: 735 acres Capital: Hamilton Climate: sub-tropical, frost free Nearest mainland: Cape Hatteras, North Carolina, US. 651 miles

POPULATION Total Total Foreign-born United Kingdom United States Caribbean Asian Countries Canada Azores/Portugal African Countries Other European Countries Other Gender ratio Female Male

63,542 19,332 4,088 3,598 2,755 2,563 2,140 1,643 627 1,231 687 52% 48%

HATCHES, MATCHES & DISPATCHES Births Deaths Marriages Divorce

479 585 336 114

Until recently, the only form of gambling allowed in Bermuda was at Crown and Anchor stalls at major cricket matches. However, in 2014, legislation was passed which allows for the development of casino gaming in hotels. Where and when the first casino will open is still uncertain.

EDUCATION Private school enrollment Public school enrollment Bermuda College enrollment

3,331 4,070 1,069

EMPLOYMENT Total occupied jobs Work Permits in private sector Work permits in public sector

Customs Duty Land tax Company Tax Other

20% 8% 6% 23%

GOVERNMENT EXPENDITURE 31,914 7,858 429

GOVERNMENT REVENUE Total $1,111,036 million Payroll tax

43%

Total: $1,182,434 million Grants & contributions Wages & salaries Debt service Capital expenditure Other operating expenditure Government deficit: $77.4 million

28% 33% 12% 7% 21%

TRADE Total imports Total exports Imports by country USA Canada UK & Europe Caribbean All others Rate of inflation

$1,202.3 million $33.5 million 71% 8% 11% 2% 14% 8%

TRANSPORT Registered Road Vehicles: 49,668 Reported Accidents: 1,285 Road Casualties: 668 Road Fatalities: 11 Gibbs Hill Lighthouse stands 362 feet above sea level — the highest point on the island. Built in 1844, it is one of the few in the world made of cast iron.

10 Bermuda Business Visitor 2025

Source: Bermuda Digest of Statistics, 2023

by Government of Bermuda

THE BRIEF Bermuda monetary authority

T

Premier of Bermuda, The Hon. David Burt, JP, MP

Democracy, Bermuda-Style

B

ermuda remains a British Overseas Territory, but it is self-governing in almost all other respects, with a Parliamentary system modeled after that of the UK. Although we are nominally under the responsibility of a Governor who is appointed by the King, the House of Assembly — the so called ‘lower house’ of Parliament — is where the big decisions are made.

The house has 36 elected members representing all areas of the island.

At the most recent election held in October 2020, the Progressive Labour Party (PLP), won 30 seats.

The remaining 6 were all won by the One Bermuda Alliance (OBA).

The PLP has held power for 17 of the past 22 years, with the OBA governing from 2012 to 2017.

Prior to that the United Bermuda Party formed the Government since party politics began in the 1960’s.

The party officially ceased operations in 2011 after a majority of its members joined the OBA. The Premier is chosen by the majority party from its elected members to lead the Government and therefore the country.

he Bermuda Monetary Authority is the regulator of Bermuda’s financial services industry. Established by statute in 1969, the Authority has changed significantly over the past nearly five decades to adapt to changing needs of the financial sector - and global regulatory requirements.

Today it supervises, regulates and inspects financial institutions operating on the island. Additional responsibilities include issuing Bermuda’s national currency, managing exchange control transactions, assisting other agencies with the detection and prevention of financial crime, and advising the Government on banking, financial and monetary matters.

Bermuda’s success in international business development has resulted in robust economic growth. The island hosts one of the largest reinsurance markets in the world and is the world’s largest captive insurance domicile. Bermuda has also emerged as the premier jurisdiction for issuing insurance-linked securities, a method of alternative risk transfer typically utilised by capital market investors for weather-related events,

longevity risk or life insurance mortality.

Bermuda’s financial industry, according to latest available figures, consists of a banking sector with total assets of $21 billion, an investment funds sector with an aggregate Net Asset Value of $145 billion, and an insurance sector comprising more than 1,100 companies with capital of $298 billion, total assets of $764 billion and writing $133 billion in net premiums.

To maintain its competitiveness and to protect its reputation as a quality international financial centre, it has been essential for Bermuda to keep pace with international standards in financial regulation and anti-money laundering/ anti-terrorist financing provisions.

The Authority develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money services businesses, corporate service providers, digital asset businesses and insurance companies. It also regulates the Bermuda Stock Exchange and the Credit Union.

BMA House

Bermuda Business Visitor 2025 11

HISTORY

Bermuda in the age of agriculture

Commerce Chameleon

G

iven that this is one of the smallest, more isolated inhabited islands in the world, with no natural resources to speak of, it is not surprising that Bermudians quickly

became masters of business adaption.

Close one window of opportunity and we tend to open another.

From the early years of settlement, the export of crops was important to

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the country’s survival, but the cost of transporting them to market — if they got there at all — was always a problem.

Also, little Bermuda was often muscled out by larger competitors: local tobacco production was no match for Virginia’s, and more recently somebody made a fortune in “Bermuda onions”, by the expedient renaming of an area in Texas.

Still, the island did manage to get itself into the annals of agriculture — first by introducing the potato to the American colonies in 1621 then bananas to England in 1633.

The Easter lily, brought here during the 19th century, was extensively cultivated for export. (A bouquet of lily blossoms is sent to the Queen every spring). There was also large-scale arrowroot production.

However, US tariffs during the 1930s along with the growth of tourism here essentially ended agricultural exports.

And when tourism started to falter two decades ago, Bermudians had already built the infrastructure to support the further expansion of international business. n

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HISTORY

Shakespeare in luck How Bermuda was Juan

A

cademics have long seen a connection between the wreck of the Sea Venture off Bermuda in 1609 and The Tempest, which was first performed two years later.

The Irish critic Edmund Malone was the first to argue that Shakespeare had drawn inspiration from contemporary pamphlets about the ship’s demise, which led to the settlement of Bermuda three years later. These pamphlets include Silvester Jourdain’s narrative, published in 1610, and William Strachey’s more detailed account in the form of a letter to a woman in England. Both men had been aboard the Sea Venture, which was heading for Virginia when it literally bumped into Bermuda.

Jourdain was among the crew and Strachey — the Secretary-designate of Virginia — was a passenger.

Shakespeare must have read these accounts, given that his patron, Henry Wriothesely, Earl of Southampton, was a member of the Virginia Company. (The earl later invested in the Somers Island Company and had a Bermudian parish named after him.)

In any case, so miraculous was the nature of the Sea Venture’s “deliverance”, to quote Strachey, from “the windes and seas … as mad as fury and rage could make them” that the story was surely the talk of London.

The events of the summer of 1609 gave Shakespeare more than enough material to spin one of the world’s truly great yarns. Indeed, his play has remained better known and better understood than the island that helped shape it. n

B

ermuda’s name game began in 1503 when Spanish explorer Juan de Bermudez spied the island and christened it “Las Bermudas”. However, in his Mappa Mundi, Sebastian Cabot identified us as Ya de Demonios — the Isle of Devils — due to a growing reputation for sudden storms and fiendish noises. As such, the Spanish duly crossed the island off their colonisation list.

It was the British admiral, Sir George Somers and his fellow 1609 castaways who finally figured out that the evil lurking among the cedars was nothing worse than mewing seabirds, grunting hogs and wind whistling through the caves.

When, three years later, the Virginia Company was granted permission to settle the Isle of Devils, someone — probably in an effort to please his boss — suggested renaming it Virginiola. Thankfully, this was soon abandoned for the more dignified Somers Islands, in honour of Sir George. But humans being fickle creatures, after ownership passed to the Somers Island Company, preference for the original name began to resurface. n

Bermuda Business Visitor 2025 13

AMERICA’S VIEW

Counsel from the consul Advice from Former U.S. Consul General to Bermuda, Karen Grissette

K

aren Grissette, who recently completed her term as the U.S. Consul General to Bermuda, served in the role from July 2021 to 2024. During her time on the island, she became a familiar face in both the business and social communities. In this article, she shares valuable advice for U.S. business visitors and reflects on her experiences during her tenure.

“Bermudians are incredibly friendly and familiar with the U.S., which makes adjusting easier for Americans,” she says.

However, Bermuda has its unique culture, which makes it a special place to live and work.

14 Bermuda Business Visitor 2025

Grissette notes that one of the remarkable aspects of Bermuda is how interconnected the community is. "You often see the same people in various places—schools, grocery stores, or local events. This close-knit atmosphere fosters strong friendships and business relationships."

U.S. Consulate Services The U.S. Consulate’s primary focus is on providing exceptional customer service.

"We strive to respond promptly to all inquiries, especially in cases of unexpected travel," Grissette says.

The Consulate supports both American

citizens and non-citizens. Services for U.S. citizens include handling emergency situations such as arrests, deaths, or destitution, as well as routine services like passport renewals and notary services. For non-Americans, the primary focus is on visa-related queries, whether for visiting or immigration purposes.

There are approximately 8,000 U.S. citizens living in Bermuda, a significant portion of the island's population. When cruise ships arrive, that number spikes.

Given this, the Consulate prioritises services for both residents and visitors, encouraging U.S. citizens to register with the Consulate via the STEP program to receive important notifications about weather events or travel requirements.

Partnerships and Initiatives The U.S. Consulate is deeply involved in Bermuda’s international business and education sectors. "We work closely with Bermuda’s government and local organisations to foster stronger ties between the U.S. and Bermuda,” Grissette explains. This includes partnerships with the Bermuda Business Development

AMERICA’S VIEW NASA tracking station plays a key role in supporting NASA’s Artemis missions," Grissette adds.

Recently, the Consulate launched the "Study With US" campaign, spotlighting Bermudians studying in U.S. universities.

This initiative reinforces the educational ties between Bermuda and the U.S., while highlighting accessible pathways to U.S. education.

Strengthening Economic Ties

Karen Grissette welcomes Lt. Justin Nease of the US Coast Guard

Agency, Ignite Incubator, and the Bermuda Economic Development Corporation.

The Consulate also partners with

institutions such as NASA and the Bermuda Institute of Ocean Sciences (BIOS) to promote environmental sustainability and education. "Bermuda’s

Grissette’s mission included enhancing economic relations between the U.S. and Bermuda. "We support investment opportunities for U.S. companies and investors, as well as Bermudian entrepreneurs," she says. The Consulate works closely with local business development organisations and meets regularly with U.S. insurance companies based in Bermuda to ensure strong communication and support for international business on the island.

For more information, visit the U.S. Consulate's website at https:// bm.usconsulate.gov or follow them on social media @usconsulatehamilton. n

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Bermuda Business Visitor 2025 15

FROM THE GOVERNOR

Our strong ties with Britain

B

ermuda, settled by the British in 1609, has maintained a unique relationship with the UK for more than 400 years. In this article, former Governor Rena Lalgie shares her insights and advice during her time in office.

Andrew Murdoch is set to take up the role of Governor of Bermuda in January 2025, succeeding Rena Lalgie, who recently completed her term.

Question: Can you talk a little bit about the relationship between Bermuda and the United Kingdom from a cultural point of view as well as trade and politics?

Answer: As a British Overseas Territory, Bermuda and the UK share history, a constitutional relationship, and cultural norms. The legal frameworks and the political systems are not the same but they have common roots and the Judicial Committee of the Privy Council is Bermuda’s highest Court of Appeal. Bermuda’s regulatory framework is clear, robust, and compliance with international standards and obligations is strong. The Bermuda Monetary Authority’s global reputation is key. Businesses in Bermuda have strong ties (historical and current) to businesses in the UK but also in North America. This is particularly the case in relation to the insurance markets, where many will attest to the symbiotic relationship between London and Bermuda. Bermudians are British Nationals and have extensive familial and cultural links to the UK. Bermudians attend British schools and Universities (where they are eligible for ‘home fees’) but there are also close ties to Canada, the United States and the Caribbean.

Q: Is there anything a first-time business visitor will find surprising about Bermuda?

A: Before arriving, you should already 16 Bermuda Business Visitor 2025

business meetings in London for example, or any cultural ‘faux pas’ to avoid.

A: A ‘smart’ or even ‘smart casual’ dress code is smarter and more formal in Bermuda than elsewhere. This can be challenging for men and women during the hot and humid months. People tend to dress for the occasion regardless of the weather, so cotton and linen layers will feel welcome. Bermuda shorts for men in both business and formal settings is a real thing and a source of pride — so tread carefully with alternative views. There is a considerable amount of tradition, protocol and individual creativity about how and when to wear them.

Q: Is there any advice you would share with a business visitor who is experienced in doing business in big cities and now finds him or herself in this small community?

A: From the moment you begin boarding your flight, work on the basis the person next to you, the people sitting behind you, the taxi driver etc. is related to or at least knows the person that you are talking about.

have heard that Bermuda is a beautiful, warm and friendly place to visit and to do business. You might also be surprised by the extent to which Bermudian people have strong connections around the world. The wealth of intellectual and cultural capital crammed on this small archipelago in the middle of the Atlantic can be a real surprise.

Q: Is there anything a businessperson should know to make that important “first impression” when meeting Bermudians? Is there a different “dress code” here compared to attending

Q: Outside of business hours, what would you recommend a business visitor does to get to know and enjoy Bermuda, especially if they only have very limited time?

A: There are so many opportunities, you will be spoilt for choice. Bermuda is a perfect place to balance business and pleasure. You are never too far away from a golf course but more generally if you enjoy sport, you name it and there will more than likely be a group enjoying it. If you are here during one of the many international sporting events, such as the PGA Tour’s Butterfield Bermuda Championship, or SailGP, it is worth making the time to attend with your colleagues. If you enjoy art, there are a surprising number of galleries and some impressive collections in Bermuda. Go for a walk at Clearwater Beach or along the beaches on the South Shore to or from Horseshoe Bay. If you get a chance to experience Bermuda from the water, do not turn it down. If you have limited time, you might need to come back. n

INTERNATIONAL BUSINESS

Why we are here Four local business leaders explain the benefits of being based in Bermuda BACARDI “As I travel around the world, many people are surprised to learn that Bacardi is headquartered in Bermuda,” says Mahesh Madhavan, CEO of Bacardi Limited, the largest privately held spirits company in the world. “We’ve actually been here since 1963, and have enjoyed the feeling of security, safety and wellbeing that the Island provides.”

Bacardi was founded in Cuba in 1862. However, the Cuban assets of the business were seized in 1960 during the Communist revolution, and the family fled the island, ultimately creating its worldwide headquarters in Bermuda in 1965.

“The company fled Cuba in exile, and had to rebuild the business with all we had at that time – the Bacardi trademark and our secret rum recipes.”

“I believe the reason for wanting to stay in a country like Bermuda is because of the political stability and sense of safety – that what happened because of the Cuban revolution, can never be allowed to happen again to the family and our company. In addition, the business environment and leading edge communications, financial and technology infrastructure help to support our global business”.

During the early days of rebuilding the brand, Bacardi’s primary markets were the United States and Latin America, and Bermuda provided excellent travel links to those countries, explains Madhavan. “When we acquired Martini in 1992, we gained greater access to the European market, and Bermuda has direct flights to London, which is good, although we would like to see more frequent flights to Europe. Later in the 1990s, we started to establish our footprint across Asia and farther afield, and now our business is truly global, with consumers enjoying our premium spirits brands in 170 countries around the world. If one has to travel from Bermuda to far eastern parts of Asia, it’s a little

tricky, but, if we were headquartered in another location, even places like London or Singapore, there would still be certain countries that would always be difficult to reach and require several flights across different time zones.”

Most of Bacardi’s senior management team is located in Bermuda, says Madhavan. “We consider this our home,

and our senior leaders operate from here, demonstrating their commitment both to our business and the Island.”

Madhavan points out that, there’s a wealth of great talent available on the Island, especially in the financial and legal areas due to the large insurance business that’s based here. Also, unsurprisingly, talented staff are happy to relocate to Bermuda Business Visitor 2025 17

INTERNATIONAL BUSINESS Bermuda. “Our office does attract top talent. We have many examples of highly qualified managers joining us here in Bermuda from another Bacardi office, gaining experience to further their career, and then stepping up to an even higher leadership role elsewhere around the world with the firm. ” Due to the global nature of the Bacardi business, Madhavan says that there’s a lot of travel involved in his position, but he always looks forward to returning to the island. “It’s always nice to come home. I was recently on the road visiting several different markets, and when I landed back here I felt a sense of coming back to a place that I can call home.”

“The other thing I should mention is that many Bacardi folks from around

the world come to Bermuda for meetings on a regular basis, and I would say that it begins to feel a little bit like home for them too. Before coming to Bermuda as CEO, I was based in Geneva and was a frequent visitor to the island, and I know this was true for me.”

Over the years, Bacardi has grown from being a single-brand company to owning a huge multiple category portfolio. “We are making a particular effort to communicate the depth and breadth of our iconic premium portfolio in Bermuda. The team that work in our headquarters are all brand ambassadors, and, when we go to a restaurant or bar, we make a point of making people aware of our portfolio. When you say ‘Bacardi’ most people think about Bacardi rum

and little do they realise we also own Grey Goose vodka, Bombay gin, Dewar’s Scotch whiskey, Martini vermouth and sparkling wine, Patrón tequila, and many other brands. We want to let both the trade and consumers in our home town know about the evolution of our company over the years.”

Indeed, quite an evolution and success story it has been, too. From the adversity faced in the 1960s, the family-owned company that occupies the flagship building on Pitts Bay Road, now employs more than 7,000 people, including a staff of 80 in Bermuda, and its brands are available in more than 170 countries.

As Madhavan shared, “Bacardi is 156 years old, but our future has never been brighter.” n

of appeal to the Privy Council was also important.”

Barnes says Jardines is headquartered in Bermuda, although most of the businesses are elsewhere – primarily Asia – and are regulated where they are domiciled. “But, in terms of the ultimate holding company, which is in Bermuda, the financial rules and regulations and the accessibility of

accounting and legal talent made it easy to stay here.”

The talent pool in Bermuda is excellent, he says. “Most of the functions are done in-house, with a 100 per cent Bermudian staff. There is a pool of established and good talent locally, and when the firm needs external advice there is a great selection of law firms and accounting firms.”

JARDINE MATHESON

I

t was founded by two Scotsmen in 1832 and trades primarily in Asia, but, as a group, Jardine Matheson loves having its corporate headquarters in Bermuda.

The lifestyle, the infrastructure, the stable political system, and the regulatory regime make it almost a home from home for a company that relocated here from Hong Kong about 30 years ago.

Philip Barnes, president of Jardine Matheson International Services Ltd, says, “We are a global organisation with businesses all over the world, and, when we established ourselves here in Bermuda, it was at a time when Hong Kong, which was the previous domicile of the group, was in the process of being handed back to China.”

“One of the underlying principles of the way the group does business is under the UK legal system. The group was looking for a location that encompassed the UK legal system as well as having the additional benefits of a strong international reputation as far as regulations and government.

It looked at several locations, and Bermuda was a clear favourite in terms of what was here.”

“The way Jardines has conducted business has always been under the UK system. In Hong Kong, a former UK dependent territory, the British system worked well for the group, so it wanted to continue doing it that way. The right

18 Bermuda Business Visitor 2025

INTERNATIONAL BUSINESS FIDELITY Fidelity’s Country Head and Group Head of Tax, Allan Pelvang, who is based in Bermuda in an office on a peaceful part of the waterfront in the capital of Hamilton, says: “I am a great fan of Bermuda.

“There is a combination of a welldeveloped financial services sector with a great quality of people, strong regulation and a level of work that is on a par with what we would see if we were working in London or New York.

“We also have an amazing lifestyle, which is not to be sniffed at. It is not for everyone, but what I love is that you can get on your moped, go to work then jump on your moped again and go and play tennis or golf or take the boat out.

In terms of business regulations, Barnes adds, “We have a very close relationship with the Bermuda Monetary Authority, which has improved standards and quality of its regulations. It has had to up its game and has done so.”

As everyone knows, Bermuda is a tiny spec almost in the middle of the Atlantic, but Barnes sees no problem with its geographic location.

“You would think it would be counterproductive to have an office on the other side of the world to where the main businesses are, but today it makes no difference with technology.”

“Our board travels extensively and holds its AGM as well as other meetings here. With air travel and the Internet, it is very easy. And the infrastructure is good enough. We have a choice of ISPs, and all of them seem to compete. We have no problems at all.”

He says political stability was a key element of being in Bermuda, adding, “There has been several changes in government, and, from Jardine’s perspective, they have all been completely seamless. Governments are very receptive to us, which we appreciate.”

Life in “paradise” also has its attraction. “It is not difficult to attract the right person to come and live here.

For me it is a five-minute drive to the office. In London, it would be an hour, and there is an awful lot to do in Bermuda.” n

“I am not sure where else in the world you can get that combination of firstclass financial services work and the quality of life.”

Fidelity was one of the first international firms to domicile in Bermuda, which it did in 1969.

A Danish national, Mr. Pelvang has also worked with Fidelity in London and Luxembourg, and he says: “Fidelity remains very committed. I am not here for the short term, but it is, of course, difficult to predict precisely what the future will bring.”

He believes Bermuda’s geographical location is a good feature. “It creates a point between our US shareholders and shareholders in Europe and Asia.

Logistically, it is good.”

He also believes that there is a good pool of talent available locally.

“Going back six or eight years, during the recession, it was more difficult to get qualified candidates for positions, especially Bermudians. But that has improved lately.”

He added: “We always run into the perception locally that we would rather

employ expatriates, but for the vast majority of our positions we would much rather have Bermudian staff.

“Other people stay two to four years and move on and that is generally bad for business.”

It is clear that Bermuda has been faced with some critical issues—for example, the emergence of gang-related crime— and the occasional local issue that may not always have been conducive to the stability that businesses crave.

Mr. Pelvang added: “I think that generally as a business we are encouraged by stability.

We are therefore always encouraged when we see moderate behaviour and rhetoric, in particular, in politics.

“We do like to see continued strong policies to deal with crime. We are encouraged to see that steps are being taken to deal with gangs and gun violence because of the more recent incidents.”

Like other countries around the world, Bermuda did not escape the effects of the worst recession in living memory. But Mr. Pelvang adds: “It is encouraging to see Bermuda emerging from the recession and businesses growing again.” n Bermuda Business Visitor 2025 19

INTERNATIONAL BUSINESS Mosaic Insurance When he arrived in 2006, Mitch Blaser thought he would probably stay in Bermuda for three or four years before heading back to the United States.

Seventeen years later, he’s still here, enjoying life as a leading player in international business circles and prominent member of the local community.

The island’s well-founded reputation as a good place to do business is one reason Blaser stayed put and co-founded Mosaic Insurance in 2021, long after co-launching and successfully developing the global property and casualty insurer Ironshore.

But there’s also a human factor that has caused the island to get under his skin: it’s a melting pot where people from multiculturally diverse backgrounds interact to solve problems and create their own ever-evolving culture.

“It’s about the people. The people of Bermuda are fabulous. They are friendly, engaging and interesting,” Blaser says.

“There’s tremendous diversity.

You’ve got a mini melting pot here.

It manifests itself in the fact that everybody works together, plays together, and interacts on every level with one another.

“This is all very positive for the experience here. Doing anything you can that encourages that community is what helps motivate me.”

Bermuda’s population of about 63,000 includes residents born in 176 different countries, which leads to a high level of mingling and engagement.

“Everyone’s bringing their background and histories to that same experience,” Blaser says. “I find that to be stimulating. You’re travelling without having to leave the island.

“Business and personal lives are tied together by living and working, playing together – having a meeting with someone and then seeing them in the supermarket.”

After joining Ironshore as a founding executive in 2006, Blaser helped drive the company’s growth to more than 800 employees in 15 nations 20 Bermuda Business Visitor 2025

before it was sold to Liberty Mutual Group in 2017.

In 2021, he co-founded specialty insurer Mosaic, where he now serves as co-CEO. Already, Mosaic has seven business lines and offices in seven countries, with a global team of nearly 150, including 11 in Bermuda. It has a target of more than $500 million gross written premium in 2023.

Blaser says the political stability provided by the Bermuda Government and Bermuda Monetary Authority is particularly important for international businesses.

“Things aren’t happening randomly – there’s consultation,” he says.

“As things change in the world, you want to be in an environment that is collaborative and working with business to find the right solutions that help companies prosper, while at the same time watching out for the guardrails to make sure you’re staying on track.”

The proximity to America brings comfort of access and availability of supplies as well as a strategic connection; the UK oversight and British laws increase stability; and the tax environment is friendly and flexible.

“Every dynamic of the insurance business is represented in Bermuda,” Blaser continues.

“Because of these elements, you probably have more clients coming here than any other place in the world. Risk managers and insurance buyers come to the island to meet.”

Even so, Blaser had not expected to stay in Bermuda forever.

“I thought, starting Ironshore, it was going to be one of those three- or fouryear projects: IPO and back to New York.”

The global financial crisis stalled progress, meaning Blaser needed to stay longer to help the company get going.

This turned out to be an opportunity for him and his wife Carol to become ingrained in the fabric of the island.

“There’s great restaurants and activities you can engage in, whether it’s sports, culture, water activities, the restaurants, and all the events that occur here,” Blaser says.

He’s been swept up by the spectacular Bermuda scenery and spends time boating and playing golf and croquet, and even watching that least American of sports, cricket.

Blaser also takes pride in giving back to Bermuda.

“People coming to this island need to think about how they make the community better,” he says.

“Some of the more obvious ways are engagement with local charities. I always look for those causes that have a very direct impact on people in Bermuda.”

He has provided support to key community organisations such as local cricket clubs and churches, as well as fundraisers like the cancer charity Relay For Life, and Scars, which supports vulnerable young people. He’s also worked as a tax commissioner and has helped the Jewish community with its search for a permanent centre.

These connections have given Blaser a true sense of the island’s identity.

“Social issues still need to be addressed, but since I’ve been here, I’ve always seen Bermuda navigating towards solutions,” he says.

“Sometimes adversity brings out the best in people and I think it does the same thing for Bermuda. Don’t underestimate the capabilities of the people here. There’s a strong talent pool in Bermuda and we learn skills from people we bring in.” n

PEOPLE

MEET THE LOCALS B usiness visitors to Bermuda are often delighted by how familiar the island can feel. Strolling through the streets of Hamilton, you’re likely to spot someone you recognise—whether it’s from a recent social media post, a trending video, or sitting in first class on your flight.

Bermuda attracts some of the world’s most intriguing individuals, and the island produces a few stars of its own.

Don’t be surprised if you bump into one of our ‘locals’—you might even catch them sharing their Bermuda experience on Instagram or TikTok.

the Greens maintain a low profile.

However, their $100 million renovation of the Hamilton Princess Hotel, the development of Waterloo House, and the redevelopment of the former HSBC Bermuda headquarters have brought

them into the spotlight. The family's connection to Bermuda dates back to 1947 when industrialist Sir Harold Mitchell, grandfather to Alexander and Andrew Green, settled on Marshall’s Island after the nationalization of his UK assets. Following his death in 1983, his daughter Mary-Jean managed the family businesses until her passing in 1990, when her husband, Peter Green, took over. n

Michael Bloomberg Billionaire Michael Bloomberg has been a long-time admirer of Bermuda, owning home in Tucker’s Town that he regularly visits. He can often be seen playing golf at exclusive Mid Ocean Club, just a short iron from his property. The former Mayor of New York is the founder of Bloomberg LP which is the leading source in the world of financial data. His fortune is thought to be in the region of $5bn and as a philanthropist he has donated millions of dollars to cultural, educational and medical causes.

The ultimate British experience, right here in Bermuda.

Michael Douglas Who is the most famous Bermudian?

Without a doubt, it’s 80-year-old Michael Douglas, whose mother, Diana Dill, traces her Bermudian heritage back to 1630. Douglas and his wife, Catherine Zeta-Jones, spent around 10 years in Bermuda raising their young children, who are now in their 20s, away from the spotlight of New York and Los Angeles. They continue to visit the island to connect with family and friends as often as they can.

Douglas also plans to redevelop Ariel Sands Hotel, a beachfront property that has been in his late mother’s family since the 1840s. The hotel, which closed in 2008, is set for a revival under Douglas' vision.

The Greens Like many wealthy families in Bermuda,

From our clothing range to food & wine, you will find everything you need at

17 Reid Street, Hamilton 295-0031 | msbermuda@tess.bm www.marksandspencerbermuda.com

Bermuda Business Visitor 2025 21

BRIEFING

Talking Points Hotels The big daddy of Bermuda’s hotels, the Fairmont Southampton, closed its doors in 2020 so that a $500-million renovation could take place.

It has long been hoped the project will revitalise the island’s tourism industry but, following a series of delays and frustration, it wasn’t until January this year that ground was finally broken. By the summer, the project remained in its very early stages.

The public is keen for the 600-room hotel to reopen, but plans to create up to 250 tourism and residential units in fourstorey blocks as part of the development have faced strong opposition from environmental groups and were rejected by planning officials.

Deputy Premier Walter Roban, however, approved a special development order to allow it to go ahead.

Elsewhere in Bermuda, the industry is rebounding well from the Covid-19 pandemic.

Azura Bermuda, on the South Shore, has received $47 million worth of upgrades, Grotto Bay in Hamilton Parish is adding 50 new rooms, the St George’s Club has undergone major renovations and more are lined up at the Rosedon Hotel in Hamilton.

Casinos One of the safest bets you could ever make in Bermuda is that the subject of gaming will always be a hot topic.

For many years, some have seen casinos as a potential saviour for the island’s tourism industry while others have opposed on moral grounds or pointed to the social problems it might bring.

Yet for all the talk, plans to introduce casinos have consistently failed to get off the ground.

When the pro-business One Bermuda Alliance was elected in December 2012, it introduced legislation to pave the way for traditional casino-style gaming in resort hotels. The Casino Gaming Act of 2014 was swiftly passed through Parliament, leading to the establishment of an independent body, the Bermuda Gaming 22 Bermuda Business Visitor 2025

Commission, to oversee the industry.

In July 2017, the Hamiton Princess Hotel and St Regis Bermuda Resort submitted casino licence applications to the Commission. However, in early 2023, the Hamilton Princess announced its withdrawal from the process due to extended delays, and The St. Regis also says it has ‘pulled the plug’ due in part to it’s dissatisfaction with the regulatory regime on the island.

The Government and Gaming Commission have remained tightlipped in response to media inquiries about the reasons for the casino introduction delays. Industry experts, however, point to concerns about the Gaming Commission’s perceived lack of independence.

This perception is also said to have deterred foreign investors and US banks from participating in gambling ventures on the island.

replacement.

Plans to upgrade key structures such as Swing Bridge in St George’s were unveiled more than seven years ago but have been on hold as the Government has struggled to find cash to carry out the work.

Infrastructure

Airport controversy

Record levels of rainfall over the past couple of years have led to potholes galore on Bermuda’s roads.

This has led to numerous complaints from drivers about damage to car suspension and tyres – and for the Government it’s caused a financial headache.

In its latest budget, funding for road repairs was doubled to $5 million while the Government has also splashed out on a new asphalt plant worth more than $6 million; yet the total cost of repairs has been estimated at $100 million.

The island’s bridges are another key element to the physical infrastructure, having played an essential part of island life since the 1600s.

More than 40 of them connect Bermuda’s numerous tiny islands: from the smallest drawbridge in the world, Somerset Bridge in the west, to the Causeway in the east, which is more than half a mile long.

But all that salt water, warm air and exposure to hurricanes have taken their toll and, for several years, many bridges have been identified as needing repair or

The construction of a new terminal at LF Wade International Airport sparked one of the most contentious debates in Bermuda’s recent history.

In 2015, the then-One Bermuda Alliance Government declared that the old airport building was crumbling and costly to maintain, and announced plans to build a new one through a publicprivate partnership with the Canadian Commercial Corporation.

Under the deal, Canadian contractor Aecon Concessions would build the facility and retain management control over it, which the OBA claimed would save the island more than $500 in extra debt than if the contract was put out to tender.

The Progressive Labour Party, the Opposition at the time, cried foul over the loss of a Bermudian asset and argued it meant hundreds of millions of dollars in revenue would now be leaving the island and going to Aecon.

Opposition to the move by PLP supporters culminated in a public demonstration in December 2016 involving thousands of protesters –

Government’s gamble on casino’s has yet to pay off

BRIEFING

including PLP politicians, church leaders, union leaders and community members – who clashed with police armed with pepper spray.

The deal went ahead anyway and the new airport terminal now welcomes visitors every day, but its unpopularity was regarded as a key reason behind the OBA’s heavy General Election defeat in 2017.

Pathways to status Bermuda’s ageing population has long been a cause of concern.

For the past few years, deaths have outnumbered births and the percentage of seniors among the 60,000 population has steadily increased.

With a quarter of the island expected to be made up of senior citizens by 2026, decreasing numbers of Bermudians will be paying into social insurance, pension and health insurance systems, leaving lawmakers to figure out how to make up the difference.

One obvious way is to increase the number of working foreigners or allow long-term expats to become Bermudian – but immigration is a particularly thorny issue.

When the then-ruling One Bermuda Alliance floated the idea of granting status to long-term residents in 2016, it sparked a backlash of angry demonstrations from large sections of the public.

Many claimed it mirrored policies

from the 1960s and 1970s that were said to have intentionally boosted the white voting base.

In 2022 the Progressive Labour Party government announced plans for immigration reform to increase the working population by more than 8,000, but has since back-pedalled on that proposal.

Debt Bermuda is renowned as one of the world’s leading international financial centres, but in recent times it has had serious difficulty making ends meet in its own backyard.

Earlier this year, the Opposition One Bermuda Alliance warned that the national debt works out at more than $50,000 per person, compared with $32,700 for the Bahamas and $6,300 for the Cayman Islands.

Debt has risen consistently over the past two decades to a total of more than $3 billion, meaning debt servicing represents 12% of the government’s annual expenditure, compared to only 7% on capital expenditures.

Cost of living It may be a great place to do business, but the price of everything in Bermuda can raise eyebrows even among the wealthy.

The cost of living in the capital and business hub, Hamilton, is about 40 per cent higher than New York, so be prepared to steel yourself for those energy,

internet and restaurant bills.

Electricity costs 37 cents per kilowatt hour which, according to a 2023 global survey, means the island has the second most expensive electricity in the world.

Bermuda is also the sixth most expensive jurisdiction for internet service, according to another survey, thanks to difficulties rolling out fixed-line broadband across the island.

Restaurant prices are almost 50 per cent more than New York, while a trip to the grocery store will set you back $8 for a loaf of bread, $6 for a carton of milk and $10 for a small bag of apples.

Construction is also pricey because of the need to import quality materials that can withstand hurricanes and erosion from salt water. It works out to about $500 per square foot for a simple office building and more than $1,000 per square foot for a five-star hotel.

General Election Discussing politics is almost a national sport in Bermuda, where politicians rank among the most well-known local celebrities, and party supporters fly their flags with pride.

With a General Election due before February 2026, you can expect more than your fair share of hype and hyperbole as the people prepare to make their big decision once again.

The ruling Progressive Labour Party has been in power for all but five years since its historic first victory in 1998.

At the last election, in 2020, the PLP claimed 30 of the island’s 36 seats and the Opposition One Bermuda Alliance just six.

The almost entirely black PLP has a history of supporting workers; the OBA has fielded a mix of black and white candidates and is regarded as a businessoriented party, the natural successor to the United Bermuda Party which ruled the island from 1968 to 1998.

The two-party system has often led to complaints of tribalism and divisiveness, with voting largely along racial lines. The latest party to attempt to break that trend is the Free Democratic Movement, led by former PLP leader Marc Bean, which formed shortly before the last election.

Undeterred at winning no seats that time around, the FDM has vowed to provide a fresh political vision to uplift the nation.

Bermuda Business Visitor 2025 23

BRIEFING Sir John Swan, the former UBP Premier, also tried to disturb the twoparty stranglehold by running as an independent at a recent by-election. Sir John fell just short and has since called on more independent candidates to put themselves forward.

Bermuda’s roads and bridges are in poor shape

Diversity Since its early days, Bermuda has been a melting pot of people of all kinds of backgrounds.

Slightly more than half the population is black, about one-third is white, and the rest are made up of Asians, people of mixed race, and others.

The subject of diversity – and racial inequality – is never far from the surface and came to the fore most visibly when thousands of people marched through the capital Hamilton, in 2020, in support of the Black Lives Matter movement.

At that time, several business leaders acknowledged that more needed to be done in the field of diversity, equality and inclusion.

Businesses have launched numerous DEI programmes, designed to give a

fairer shake to non-white, non-male employees, and to offer educational opportunities to those who might otherwise miss out.

Premier David Burt, however, recently noted the average income for blacks in Bermuda is two-thirds that of whites, and said there remains a long road ahead to equality.

Same-sex marriage has also been

CT Insurance Management (Bermuda) Ltd. Swan Building, 3rd Floor 26 Victoria Street, Hamilton HM 12 P.O. Box HM 2904, Hamilton HM LX, Bermuda Telephone: (441) 295-8495 Facsimile: (441) 278-7713 www.ctplc.com Contacts: Roxeen White, President & CEO roxeen.white@charlestaylor.com Fernando Paul, Senior Vice President fernando.paul@charlestaylor.com Jeffrey De Silva, Vice President jeffrey.desilva@charlestaylor.com One of Bermuda’s few truly independent providers of insurance and reinsurance company management services with over 30 years experience of advising insurers, reinsurance and captive owners and the leading manager and provider of segregated cell insurance companies.

24 Bermuda Business Visitor 2025

an ongoing source of debate, as the island’s laws have fluctuated – the first gay marriage took place in 2017, but it became outlawed again a year later.

Supporters consistently turn out in their thousands at an annual pride parade in Hamilton which has become a key part of the island’s calendar.

Climate change Bermuda endured its record rainfall in 2023, as 77 inches of rain fell throughout the calendar year.

May and November were the two wettest months on record since 1949 and Bermudians became accustomed to getting caught in storms and flooding.

Yet as well as heavier storms, climate change is also likely to cause Bermuda to face longer dry spells. The Government is working on sustainable water management plans to help support its residents who, for centuries, have collected their rainwater on their roofs.

Another serious consequence of global warming is the increased risk of hurricane activity.

Sea temperatures around Bermuda have increased by up to 1.5C over the past 40 years, meaning hurricanes are likely to be more frequent and stronger.

The worst storms in living memory have been Fabian, a Category 3 hurricane that claimed four lives in 2003, and Emily, a Category 2 that destroyed large sections of the island in 1987.

Scientists have warned Bermuda to expect even worse – in recent years at least two Category 4 storms have been considered near misses. n

YOUR GUIDE TO

PIT T S BA Y RO AD

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WELLESLEY HOUSE NORTH Willis (Bermuda) Limited (WTW) Waterfront Wellness Gym & Health Club

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IDEATION HOUSE Brookfield Wealth Solutions Ltd / North End Re Ltd Wafra Financial & Management Services Ltd Wafra InterVest Corporation Harry’s Restaurant + Bar

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WELLESLEY HOUSE SOUTH Schroders (Bermuda) Limited Waterfront Group of Companies The Cloud Restaurant

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WATERFRONT MARINA & FUEL STATION

WHAT TO WEAR

Boardroom to beach: business dressing in Bermuda Pink is a man’s colour in Bermuda

The English Sports Shop is the birthplace of the Original Bermuda Shorts

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ne thing is certain—many business visitors arrive in Bermuda dressed in black worsted wool suits and leave in pink shorts! While traditional corporate attire is respected here, Bermuda’s business centers showcase a mix of tailored suits and smart, island-style looks.

One unchanging “rule” is that color is never out of fashion in Bermuda.

Surrounded by pastel-hued buildings and vibrant flowers, opting for colorful attire becomes a natural choice. Pink, for example, is an equal-opportunity color on the island, often seen in shorts, socks, and shirts—perfectly respectable for

28 Bermuda Business Visitor 2025

businessmen.

For the Gentlemen: If your business requires a formal look, a lightweight suit is ideal. Tropicalweight wool works well in winter, but for the warmer months, linen or cotton is preferable in Bermuda's humidity. For a "corporate casual" approach, a navy blazer paired with khaki trousers is always appropriate. Worn with a collared shirt in any color and a tie when needed, this look transitions seamlessly from work to social events.

During the summer, ties are often set aside, but a colorful silk pocket square in the breast pocket of your blazer adds a dash of island flair.

Shorts in the Boardroom?

Absolutely.

Yes, Bermuda shorts are standard business attire here. Cool, comfortable, and distinctive, they form the centerpiece of the 'Bermuda look.’ However, they must be styled appropriately depending on the occasion, and getting the details right is crucial.

For advice, we turn to the experts at The English Sports Shop, established in 1918 and renowned as the home of the Original Bermuda Shorts. While

they offer a wide range of business attire, including formal suits and khakis, their Bermuda shorts stand out. Available in proprietary linen blends or casual cotton and a variety of colors, these shorts are a staple in Bermuda’s business dress, favored for their timeless elegance and

WHAT TO WEAR strong impression, stick to classic styles, but don’t shy away from color and prints.

Keep the climate in mind by choosing lightweight fabrics like linen or cotton.

Heavy, synthetic materials are not recommended, and silk doesn’t perform well in the humid summer months. Stockings aren’t necessary, and open-toe shoes are suitable, though casual sandals should be avoided. Evenings are typically more formal, so be ready to dress up for dinner.

comfort in the heat.

When dressing for a formal environment, pair Bermuda shorts with a navy or crisp linen blazer and a dress shirt. Knee socks, in navy or a coordinating color, complete the look, striking the perfect balance between formal and relaxed.

For less formal occasions, like a meeting on one of Bermuda’s scenic golf courses, try their Bermy shorts in colorful cotton, paired with a classic polo featuring the Bermuda crest. In these casual settings, knee socks are not required.

For the Businesswoman: Bermuda’s business environment is more formal than the Caribbean and is comparable to major cities. To make a

Shorts at the Office?

According to The English Sports Shop, women can wear shorts to the office, but only if you're confident they’ll be well-received, as it’s less traditional for women than men. The same rules apply as for men: shorts should be kneelength, loose-fitting, and made from a formal fabric. Always pair them with a matching blazer and dress shoes for business occasions. n

Bermuda, Where Business Looks Better!

HOME OF THE ORIGINAL BERMUDA SHORTS

Custom-designed Suits, Knitwear & Resort Wear 49 Front Street, Hamilton • 1-441-295-2672

Bermuda Business Visitor 2025 29

ISLAND ESSENTIALS

Making your trip

SMOOTH SAILING Here’s some local customs to follow that will help you avoid making a faux pas on your visit

D

o say “Good morning,” “Good afternoon” or whatever is appropriate when you greet a Bermudian. Failure to do so may impede your chances of continuing the conversation. Sorry, but being nice here is a necessity.

Don’t make the erroneous — and potentially disastrous — assumption that everyone here has his or her price.

Bribery is unheard of or at least very rare.

If someone appears a little ponderous, they won’t be waiting for a “tip.” More likely, they’ll be anticipating the abovementioned “Good morning.”

Do accept if you’re invited to the home of a business acquaintance. Bermudian hospitality is genuine, so enjoy it. Be sure to make that morning-after call to thank 30 Bermuda Business Visitor 2025

your hosts, though. Failure to do so is a capital offence.

Don’t be impatient. You’ll find business moves at the pace of any international city, but beyond that, we live a slightly slower lifestyle here. We drive at 20 mph, so don’t ask your taxi driver to “step on it.” And while you will find friendly and courteous service in restaurant and shops, don’t expect to be served at breakneck speed.

Do be sensible about leaving your hotel and windows locked. Bermuda experiences far lower crime rates than almost any other place on Earth, but drugs can make a small minority do dangerous things. So don’t suspend your big-city caution.

Don’t gossip about one local to another.

Invariably, the subject turns out to be your interlocutor’s cousin/neighbour/ex-spouse — you get the idea. The key concept to remember is that everyone you meet is probably related and slated to talk soon.

Do show up on time. But don’t lose your cool if you make a business or social appointment with a local, and he or she shows up late. It’s kind of a custom here.

Don’t be surprised if the dinner table talk is a little “insular.” After all, this is a small island. Speaking of eating, most Bermudians eat relatively early, with restaurant reservations at 7 pm or 7:30 pm the norm. Also, long liquid lunches are out here. It’s perfectly acceptable to lunch with clients over a light salad or even meet for breakfast or coffee at one of the more fashionable eateries. n

ETIQUETTE

SEALING THE DEAL

Making the effort to understand Bermuda’s distinctly different ways could open some important doors for you

I

t may be sitting down at a formal meeting and finding yourself facing a senior businessman in shorts and long socks. It may be that everyone says good morning to total strangers as they pass in the street. Or it may be going into one of Hamilton’s restaurants and finding out that the waiters know as much about international business as you do. One way or another, it won’t take you long to realise that, from a business perspective, Bermuda is truly in a world of its own.

The contrast between the large international business done in Bermuda and the club-like atmosphere can be startling. There is the story of a gentleman who arrived with $250,000 in his briefcase. He visited one bank, who politely turned down his request to open an account and deposit the cash, only to find that by the time he made it to the other banks, they already knew he was coming. Money launderers, try the next town.

Don’t be seduced by this village atmosphere. Hamilton is full of international movers and shakers, who rank among the world’s finest in their respective fields. They may work in flip flops with an office overlooking the boats in Hamilton Harbour, but make no mistake, they are all connected 24 hours a day to the international marketplace.

Underestimate them at your peril.

They have chosen Bermuda as a business base for a variety of reasons — an efficient tax and regulatory environment, a highly developed infrastructure and legal system, and a unique sensitivity in the manner of doing business. So, proceed with respect and thoughtfulness. A few specific suggestions: • No one is impressed by visitors who come over as unfriendly or selfimportant.

• Make an effort to introduce yourself and your business to local regulators, industry groups and associations – such a courtesy will go a long way to forming solid working partnerships.

• Avoid making the mistake of thinking people won’t compare notes after you’ve gone. Assume that they will

talk, so get your story straight at the outset and avoid at all costs badmouthing anyone here to another resident: it’s far too small an island for that.

• Don’t shop business all over town. It is fine to discuss service and fees with a few different people but this is not a bidders market — and loyalty is still a key factor in deciding who is doing what business and with whom.

• The key to a fruitful experience in Bermuda is pretty much the key to all successful interaction: step quietly, keep your ears and eyes open and, at least in the beginning, your mouth shut other than to say “Good morning” to absolutely everyone. And whatever you do and however you feel, put on a happy face! n

What does it take to relocate?

BermudaRelocation.com RELOCATION SIMPLIFIED

Bermuda Business Visitor 2025 31

REAL ESTATE Owning Property in Bermuda: A Smart Investment

H

undreds of people from around the globe have purchased homes in Bermuda — some for retirement, others due to work commitments, and many for vacation purposes or a mix of all three. Bermuda’s political and social stability has made property ownership here a secure and attractive option for decades, with property values steadily increasing over time.

For those looking to invest, there are opportunities to purchase grand local houses ranging from $4 million to $25 million. Additionally, some condominiums are available to overseas buyers, typically priced between $1 million and $3 million. While there is a bit of paperwork involved in buying property, the process is straightforward, and a one-off government fee is required for

foreign buyers: 8% for houses and 6% for condos. These fees are designed to prevent international speculation in Bermuda’s property market and may increase soon, making now an ideal time to buy.

For those who may not need a year-round residence, Bermuda also offers firstclass fractional ownership properties, providing more flexible investment options.

Whether you’re purchasing a full home or considering fractional ownership, the

32 Bermuda Business Visitor 2025

current buyer’s market ensures that even a seemingly hefty investment could prove to be a wise decision in the years to come.

In recent years, another option for non-Bermudians to own property has emerged through the Economic Investment Certificate (EIC). This policy allows individuals who invest at least $2.5 million into the Bermuda economy to apply for residency. One qualifying investment can be

the purchase of a property.

Since 2021, there have been 58 approved applications with $231 million directed towards investment in real estate. Anyone considering the EIC should consult with a local Bermuda lawyer to fully understand the policy.

More detailed information, including the EIC Policy, Frequently Asked Questions, and the Expression of Interest Form, is available on the Bermuda Business Development Agency’s website at: https://www.bda. bm/economic-investmentcertificate/.

Ultimately, it’s the Bermudian lifestyle, more than the investment opportunity, that draws most buyers to purchase luxury homes here — and that lifestyle is truly priceless. n

KEY CONTACTS Officials & Regulators Bermuda Stock Exchange (BSX) Bermuda Tourism Authority Business & Finance Arch Reinsurance Ltd Arch Reinsurance Group Chubb CT Insurance Management (Bermuda) Ltd. Car Hire BERMI - Localmotion Ltd Cigars Cuaranta Bucaneros Concierge Services Corporate Concierge Bermuda Corporate Event Management Planning Factory Bermuda Guided Tours Bermudaful Island Tours Meeting Facilities Bermuda Underwater Exploration Institute (BUEI) Private Charters Bermuda Yachts Security Management Security Associates Limited Pharmacies Phoenix Centre Real Estate Bermuda Longtail Real Estate Ltd Rego Sotheby's International Realty The Property Group Ltd Relocation Consultancy Bermuda Relocation Soft Landing Relocation (Bermuda) Attractions Bermuda Underwater Exploration Institute (BUEI) Crystal Caves Retail Marks and Spencer The English Sports Shop Walker Christopher

Greg Wojciechowski, CEO & President Christopher Keane, Director of Sales Donna W. Douglas, Assistant Director of Sales Jallande' Greaves, Group Sales Manager

292-7212 (212) 916-3104 (212) 916.3112 (441) 279-6656

gwojo@bsx.com ckeane@bermudatourism.com ddouglas@bermudatourism.com greaves@bermudatourism.com

www.bsx.com www.gotobermuda.com

Jerome Halgan, Pres & CEO Jerome Halgan, Pres & CUO Samantha Froud, Chief Administration Officer Fernando Paul, Senior Vice President

278-9200 278-9200 295-5200 295-8495

jhalgan@archreinsurance.bm jhalgan@archre.bm chubbbermuda@chubb.com fernando.paul@charlestaylor.com

www.archreinsurance.bm www.archcapgroup.com www.chubb.com www.ctplc.com

Debbie Araujo

519-9255

debbie@bermitime.com

www.bermitime.com

Ian Gordon, Director

295-4523

info@cigarbox.bm

www.cigarbox.bm

Sylvia Jones

296-8663

info@corporateconcierge.bm

www.corporateconcierge.bm

Cher Przelomski CSEP Vice President Marketing

295-8400 office (302) 388-3601 cell

cher@planningfactory.com

www.planningfactory.com

Jonathan Hayes

337-9778

bermudafulislandtours@gmail.com

www.bermudafulisland.com

Wendy Wilson

294 0209

exec@buei.bm

www.buei.org

info@bermuda-yachts.com

www.bermuda-yachts.com

info@sabermuda.com

www.sabermuda.com

Jonathan Kempe Carlton Crockwell

292-2626 279-5451

www.phoenixstores.bm

Cesa Edwards, Broker Buddy Rego Brittany Archer Sally Ann Smith

535-2769 292-3921 505-1466 535-4521

cesa@bermudalongtail.com info@regosir.com brittany@tpg.bm sallyann@tpg.bm

www.bermudalongtail.com www.regosothebysrealty.com www.property-group.com

Sylvia Jones Cecilia ‘Cesa’ Edwards

296-8663 535-2769

sj@corporateconcierge.bm info@softlanding.bm

www.bermudarelocation.com www.softlanding.bm

292-7219 293-0640

info@buei.bm info@caves.bm

www.buei.org www.caves.bm

295-0031 295-2672 295-1466

msbermuda@tess.bm

www.marksandspencerbermuda.com www.facebook.com/EnglishSportsShop/ www.walkerchristopher.com

walkerchris@links.bm

BERMUDAMedia Waterloo House, 1st Floor 100 Pitts Bay Road Pembroke, HM 08 Bermuda P.O.Box HM 339 Hamilton, HM BX Bermuda Tel: (441) 278-9200 Fax: (441) 278-9230 Website: www.archre.bm Arch Reinsurance Ltd. provides specialty property and casualty reinsurance products through reinsurance intermediaries worldwide. These programs range from Property Catastrophe reinsurance to Medical Professional Liability and Property Excess of Loss treaties. Our Bermuda-based operation has a strong, proven management team, a commitment to underwriting discipline, and financial strength that is rated A+ by A.M. Best.

PO Box HM 2032 Hamilton HM HX, Bermuda www.bermudamedia.bm

Exchange House 110 Pitts Bay Road, 4th Floor Pembroke, Bermuda HM08 Tel: (441) 292-7212 Fax: (441) 296-1875 Email: info@bsx.com www.bsx.com The Bermuda Stock Exchange (BSX) is a vertically integrated, international securities market headquartered in Bermuda and organised in 1971. BSX specialises in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities. To learn more about the BSX visit https://www.bsx.com BERMUDA STOCK EXCHANGE

Telephone: (441) 292-7279 Contacts: Ian Coles, Publisher Lissa Fisher, Director of Marketing The island’s largest independent media organisation, producing innovative speciality magazines and television programming which provide the sophisticated business and leisure traveller with a reliable, highquality introduction to Bermuda. Products include: Bermuda Business Visitor, Building Bermuda, Bermuda Property Matters, Going Green, Your Future, House Garden Kitchen & Bath, Diversity Equality & Inclusion, Health & Beauty and New Resident as well as our television channel — The Bermuda Channel.

Bermuda Business Visitor 2025 33

INVEST BERMUDA

Everything is within walking distance in Hamilton

Top 10 things you need to know about our capital city Of all the world’s capital cities, Hamilton must rank among the smallest, and the most prosperous

1

It takes up fewer than 200 acres — about the size of a field in Texas or a small farm in Europe. Hamilton is hardly a town on the surface — but quite a city in reality.

The City of Hamilton generates approximately $4 billion a year towards the Bermudian gross domestic product.

The impressive office buildings are at least partly responsible for Bermuda’s stunning prosperity. Within their walls are at least half the Fortune 500 companies, the Taipans of Hong Kong, the big four accountants, some of the hottest legal talent anywhere, and worldbeating insurers.

You might be stunned by the scope and sophistication of the business and financial activity. It is, after all, the biggest captive insurance centre in the world as well as ranking high in reinsurance along with New York and London.

Hamilton has a resident population of just 1,100, swelling to almost

2

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34 Bermuda Business Visitor 2025

14,000 during the working day.

Hamilton is not the largest city by population on the island. Instead, it’s the city of St. George's, holds that distinction.

Although Hamilton has been in existence since 1788, it wasn’t until 1815 that it became the governmental as well as the business capital of the Island. Prior to that, St. George's, which was settled in 1612, was Bermuda's capital and is the oldest Englishspeaking colonial town still in existence.

The city was named after Sir Henry Hamilton, who served as Governor of Bermuda until 1794. People in the Town of St. George, then the capital, objected to the new upstart town, but the governor felt it made sense to have a town in the centre of the island.

That explains the city's motto: 'Sparsa Collegit', which translates to "brought together the scattered."

The Hamilton Corporation, under the leadership of an elected Mayor, runs the city with quiet efficiency. The

6 7

8

Corporation is responsible for the streets, the docks, sewerage, garbage, parking, open spaces and more. The city is fully wired underground, including a fibre-optic circuit, and a citywide closed-circuit TV system keeps the lid on crime. The Corporation manages the city on an annual budget of approximately $20 million.

A generation ago, Hamilton’s streets were lined with gracious old buildings, which have given way to contemporary office buildings to meet the demand of international businesses.

But by the standards of business cities worldwide, it remains idyllic, thanks in part to its string of fragrant, leafy green pocket parks, and its magnificent natural harbour.

It is no exaggeration that any service you might need is less than 10 minutes’ walk from anywhere else in Hamilton — coffee, a take-out lunch, or fine dining are all just a few steps away.

The point being that it is not merely small but surprisingly complete. n

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THE ECONOMY

Hamilton's Office Variety For landlords and tenants, it is the best of times, it is the worst of times Point House

T

here is estimated to be a half million square feet of empty office space in Hamilton, and some say it’s a tenant’s market. But demand among top international companies for space in high-end buildings means landlords of impressive new properties situated on the waterfront in Hamilton, with even more impressive views, are still able to enjoy top rental returns. Newest among these buildings is Point House, where rent for the most prestigious space is said to be in the region of $100 per square feet – the highest for office space on the island.

Previously, the headquarters of the Bank of Bermuda and, later, HSBC Bermuda, the building is a product of the 1960s that was transformed for the twenty-first century by the Green family. The Green’s also bought the Hamilton Princess Hotel in 2012, and in 2013 built Waterloo House, another of the breed of prestigious new buildings in top demand from international companies looking to create the right image.

Point House, Waterloo House, and a few others such as The Waterfront Complex and Sir John’s Swan’s 141 Front Street, could be called “Outliers” – they command far higher rents than the majority of office buildings, around $70 to $100 per square foot. As existing companies move into these “Outlier” buildings, they leave behind them superior office space in good, but slightly older buildings that landlords are naturally keen

to keep fully occupied.

So, for companies looking for offices, but where creating a five-star image isn’t so important, there is a fine choice of space available at what could be called “negotiable” rents.

Generally, outside of the “Outlier” buildings, you can expect to pay around $40 per square foot or less. There is usually a service charge per square foot to cover maintenance, that would usually be around $10, plus you’ll need to budget taxes at $4 to $7 per square foot and electricity at $6 to $8 per square foot.

Due to the competitive nature of the market, many landlords of older properties have invested to upgrade their buildings to keep them attractive to potential tenants. Landlords are also working to keep operating costs down by being more efficient with electricity usage: installing LED bulbs, putting in energy management and other energy efficient systems.

As for buying and/or building your own office, this option is extremely complex and expensive and only worth contemplating if you’re sure you’ll be in Bermuda for the long haul. n

Authentic Treasure

Coins

Treasure coins recovered from Spanish shipwrecks around the world and ancient artifacts spanning 2,000 years. Designed and crafted by Walker Christopher.

29 Front Street, Hamilton Located across from the ferry terminal 441.295.1466 • walkerchris@links.bm www.facebook.com/walkerchrisbda Bermuda Business Visitor 2025 35

WHERE TO STAY General Amenities

Business Amenities

Name

Description

$ Rates

# Rooms

Edgehill Manor Guest House Rosemont Avenue, Pembroke Tel: 441-295-7124 Email: edgehill@logic.bm www.edgehill.bm

Small boutique guest house with kitchenettes and private patio/ balcony, 5 minute walk to Hamilton

Deluxe $182-$270 Executive $290-$375

14 (7 with kitchens, 3 with mini kitchens)

Fourways Inn Middle Road, Warwick Tel: 441-236-6517 Fax: 441-236-5528

Small but elegant $345– 5 deluxe, property 15 $445 high; 5 suites minutes from town Deluxe Suite $245– $295 low

Gourmet restaurant, bar, entertainment, pool

Meeting Air con, cable, facilities,fax, kitchens in Xerox and courier rooms services

Pool; golf, tennis nearby

Ledgelets Cottage Colony 6 Ledgelets Drive Sandys Tel: 704-6942 or 504-6962 Email: retreat@theledgelets.com www.theledgelets.com @theledgelets

Bermuda history perfectly combines with modern island style at the Ledgelets Cottage Colony - a tranquil yet modern tourist retreat steeped in personality.

$199 & 599 Winter $310 & $870 Summer

Pool (will be heated from November 1 to March 31) and lush, old-growth gardens Complimentary Wifi throughout the property Charging Bollards for Electric Vehicles

Complimentary Wifi throughout the property Designated workspace in each cottage Printing & Copying services available

A/C Cable TV / Streaming services BBQ Grills Laundry facilities Discounts on stays of 1 week or longer; Monthly stays are considered Property can be booked for Private Events Gift Shop

Golf at Port Royal Sport Fishing across the street Somerset Bridge Watersports + 5 Star PADI outlet, Dive Bermuda, a 5 minute walk; Located on the Railway Trail

Rosedon Hotel Pitts Bay Road, Pembroke Tel: 441-295-1640 Email: reservations@rosedon.com www.rosedon.bm

City center & family-owned hotel with serene & relaxing rooms, personalized service, and multiple dining options.

From $400 25 depending on demand and season

Private Pool, Multiple Gardens, Breakfast included in Rate, for direct bookings, multiple F&B outlets on property

Streamlines check-in and check-out, multiple conference facilities, and private dining options

Samsung Frame TVs, A/C, Nespresso Coffee Machines, Free WIFI, Mini Fridges

Golf, Tennis, Pickleball, Boating, and many other activities bookable with concierge

Rosemont Guest Suites 41 Rosemont Avenue, Pembroke Tel: 441-292-1055 Email: rosemontguestsuites@gmail. com, www.rosemont.bm

An all-suite hotel with full kitchens.

Five-minute walk to Hamilton

$309 $389 high $252 $302 low

47 Studio and one bedroom suites

Swimming pool, complimentary continental breakfast, wheelchair access Free Wifi

Copier, same day laundry. Extras: Full kitchens, iron and boards, in-room safes to fit a laptop .

Terrace overlooking harbour, hairdryer, current vehicles charging point, smart TV with cable

Large swimming pool

Royal Palms 24 Rosemont Avenue, Pembroke Tel: 441292-1854 Email: reservations@royalpalms.bm www.royalpalms.bm

An elegant boutique hotel centrally located on a tree lined lane near Hamilton.

December/ March from $350, April/ November from $595

32 Individually decorated rooms.

Buffet continental breakfast and daily evening wine hour included in rate.

Ascots fine dining restaurant and bar, and Just 24 for casual dining.

Compimentary Wi-Fi, fax, copier, laptop and printer with air-printing capabilities.

Discounts for extended stays.

A/C, Smart TV’s, Nespresso machines, kitchenettes, bathrobes, and hairdryers.

Pool, gym, complimentary shuttle into Hamilton, and complimentary e-bikes. EV charging ports, golf, and tennis nearby.

The Reefs Resort and Club 56 South Shore Road Tel: 441-238-0222 Email: generalinfo@thereefs.bm www.thereefs.com

Beachfront resort, beautiful ocean views. Enjoy magnificent sunsets as each guest room faces south west.

$425 low season $775 high season

62 guest rooms and suites

Free WiFi, 2 gourmet restaurants, award winning spa, private beach, daily events, infinity swimming pool, hot tub, evening entertainment, hammocks, pickleball

Free WiFi, meeting room facilities, on staff meeting & events coordinator, copier, meeting equipment such as projectors

Flat screen TVs, safe, AC, hair dryer, iron, water views, coffee

Swimming, tennis, snorkeling, paddle boarding, yoga, kayaking, golf courses nearby

36 Bermuda Business Visitor 2025

Pool House Cottage - 1 bedroom Sunrise Cottage - 3 bedrooms All cottages fully appointed

Pool and subtropical All rooms have garden wifi access throughout

Extras

Sports

Air con, cable Golf or TV, fridge, tennis can be microwave, safe, arranged hair dryer, iron

WHERE TO STAY

WHERE TO STAY

T

here are almost infinite options, from luxury beachfront resorts to antique-filled mansions. These days, almost all guest rooms are specially equipped to cater to the business visitor, with high-speed Wi-Fi and other amenities. As for location, some businesspeople prefer to stay close to Hamilton to be able walk to meetings and

restaurants; but nowhere on the island is more than half an hour from town, so a resort or guest house on the beach is also a welcome change for businesspeople often accustomed to staying in an airport or urban hotel. Plus there is the benefit of being able to enjoy one of the most beautiful commutes in the world. Choose from our selected resorts listed here.

Bermuda Business Visitor 2025 37

DINING OUT

Our guide to the island’s top restaurants IN TOWN Price Guide per three-course dinner, approximately, including 15% tip but not drinks $ less than $30 $$ $30 to $40 $$$ $40 to $50 $$$$ $50 to $60 $$$$$ $60 plus

Café 4. Windsor Place, 18 Queen Street, Hamilton. 295-8444. $. www.cafe4.bm. Stylish and sophisticated take out of organic, local, fresh dishes.

Offers homemade bread, healthy soups and a make-your-own pasta bar with Keto diet options. Best of Bermuda’s winner of Best Salad Bar. Enjoy the indoor/outdoor dining facility.

Harbourfront. At the BUEI, 40 Crow Lane, Pembroke. 295-4207. $$$$. www.harbourfront.bm. Reservations recommended. Smart casual. Offers a varied menu featuring a selection of the freshest fish and seafood in addition to outstanding meats, fusion dishes created

by management and award-winning sushi. Enjoy perfect harbour views and the beautifully renovated Coral Lounge.

La Trattoria. 23 Washington Lane, Hamilton. 295-1877. $$. www.latrattoria.bm. One of Bermuda’s longest standing restaurants and a favourite of locals and visitors alike.

Perfectly placed in the heart of Hamilton, makes it the ideal restaurant for a romantic dinner for two or a gathering with friends. This festive trattoria has the island’s first and authentic woodburning pizza oven as a centrepiece and is recognized as best in Bermuda for their hearty Italian food, and warm, ◆ A hidden local gem for over 40 years ◆ Refined continental dining ◆ Delightful cocktails ◆ Delectable seafood dishes

37 Reid Street, Hamilton 292-6195 Lunch 11:30 am - 3:00 pm Dinner 6:00 pm - 10:00 pm Closed Sundays and holidays All major credit cards accepted

38 Bermuda Business Visitor 2025

DINING OUT kid-friendly environment, all at an extraordinary value.

Little Venice. 32 Bermudiana Road, Hamilton. 295-3503. www.littlevenice. bm. $$$. Reservations recommended. Smart casual. Bermuda’s first and most famous Italian restaurant, celebrating over fifty years of fabulous service, fine food and meticulously prepared classic and contemporary regional Italian specialties. Enjoy fabulous wine and tasty bites with the in-crowd at the adjacent Wine Bar. L’Oriental. 32 Bermudiana Road, Hamilton (above Little Venice). 2964477. www.loriental.bm. $$. Reservations recommended. Smart casual. The only place to get the best Oriental Fusion cuisine, featuring a welcoming Sushi Bar and Bermuda’s only Teppanyaki table. Seating available inside under the exquisite Pagoda or outside under the stars.

L’Oriental Express. We’ve got you covered! L’Oriental Express is in the heartbeat of the urban community, on the corner of Church Street and Par-La-Ville Road. 296-7475. $. Offering everything from soup and sushi, to wraps and sandwiches, to amazing salads and daily hot food specials. We have a pasta Bar plus specialty coffees, teas and smoothies – the selection is unbeatable.

The Red Carpet. 37 Reid Street, Hamilton. 292-6195. $$. Reservations recommended. Smart casual. Continental & seafood restaurant.

OUT OF TOWN Achilles. 33 Sea Venture Landing, St. Georges. 297-1717 www.achilles.bm $$$ This modern tavern on the sea located close to the historic town of St. Georges serves authentic dishes from the “MediterrAsian” worlds.

The stunning location is opposite Fort St Catherine’s, overlooking the picturesque Achilles Bay. The restaurant has outstanding sea views with a menu showcasing classic preparations focused on simplicity, high quality ingredients, colours and spices from two continents.

Aurora. 27 Harbour Road, Paget (at Newstead hotel) T 441-232-8686. www. aurora.bm $$$ Winner of ‘Best Seafood Restaurant in Bermuda’ 3 times, Aurora’s seasonal menu features fresh local seafood and produce from

Bermuda’s best fishermen and farmers.

We are committed to sourcing sustainable ingredients from local suppliers, ocean to table.

Bella Vista Bar & Grill. Port Royal Golf Course, Southampton, 232-0100. $$ Join us for lunch, dinner, and drinks and find out for yourself why Bella Vista Bar & Grill is the #1 ranked among all of Bermuda’s West End restaurants.

Blû Bar & Grill. 25 Belmont Hills Drive, Warwick. 232-2323. www.blu.bm. $$$$.

Reservations recommended. Smart casual.

Bold American cuisine with generous Italian and Asian influences that will satisfy any palette. Overlooks picturesque Hamilton Harbour and the Great Sound.

Bone Fish Bar & Grill. 2 Dockyard Terrace, Dockyard. 234-5151. $$ Reasonable-priced menu filled with seafood, top-grade meat (the only smoker in the west end) homemade pastas, great wine list, draft beer, and desserts to die for. Open for lunch and dinner 7 days a week. 11:30am to 10:30pm.

Café Amici. Clock Tower Mall, Dockyard, 234-5009, $$ Italian familystyle restaurant in the heart of historic Dockyard offering a friendly, intimate atmosphere and simple, uncomplicated and affordable Italian cuisine. Open 7 days a week.

Café Lido. Elbow Beach Hotel, Paget.

236-9884. www.lido.bm. $$$. The backdrop of the Atlantic Ocean and Bermuda's pink sand at Elbow Beach set the perfect tone for a light lunch or an evening out at this award-winning Italian and seafood restaurant. Adjacent to Café

Lido restaurant is the elegant Deep nightclub available for private parties and events.

Fourways Inn. 1 Middle Road, Paget.

236-6517. www.fourways.bm. $$$$.

Reservations recommended. Smart. The Grande Dame of Bermuda’s restaurants, famous for its celebrity guest list, renowned menus, signature dishes and Bermuda’s most lavish Sunday brunch.

Live piano music in the evenings and the most extensive wine cellar on the island.

Mickey’s Beach Bar. Elbow Beach Hotel, Paget. 236-9884. www.lido.bm. $.

Mickey’s Beach Bar, located directly on the beach, offers handcrafted cocktails and the perfect ambiance. Loved by visitors and locals alike. Open seasonally.

Sea Breeze Terrace. Elbow Beach Hotel, Paget. 236-9884. www.lido. bm. $.

Delicious ocean views await you at this oceanfront terrace. Sea Breeze offers the perfect Bermuda experience to enjoy refreshing local and classic cocktails along with seasonal live entertainment.

Sul Verde. Rosewood Bermuda, Hamilton Parish. 298-6983. www.rosewoodhotels.com. $$$.

Reservations recommended. Sul Verde brings the spirit of Southern Italy to the fairways, celebrating the simple, authentic flavors of Campania in a convivial setting.

Delectable cheeses, pasta, bread, and sausages are prepared in-house using the finest ingredients. Next door, the Bar at Sul Verde offers a selection of fine Italian wines, as well as refreshing classics from an Aperol spritz to the signature Negronina, a riff on the classic negroni. n

Bermuda Business Visitor 2025 39

DINING BERMUDA L E A D E R S

O F

I N N OVAT I O N

I N

D I N I N G

ACHILLES

AURORA

33, Sea Venture Landing, St. George’s T 441-297-1717 | E info@achilles.bm

27 Harbour Road, Paget Parish T 441-232-8686 | E ga@aurora.bm

This modern tavern on the sea located close to the historic town of St. Georges serves authentic dishes from the “MediterrAsian” worlds. The stunning location is opposite Fort St Catherine’s, overlooking the picturesque Achilles Bay.

Voted ‘Best Seafood Restaurant in Bermuda’ 3 years running, Aurora’s seasonal menu features fresh local seafood and produce from Bermuda’s best fishermen and farmers. We are committed to sourcing sustainable ingredients from local suppliers, ocean to table.

BLÛ BAR & GRILL

CAFÉ LIDO

At the Belmont Hills Golf Club, Warwick T 441-232-2323 | E info@blu.bm

Elbow Beach Hotel, Paget T 441-236-9884 | E manager@lido.bm

Blû’s stunning location overlooks picturesque Hamilton Harbour and the Great Sound, providing an unparalleled view of the water and international sailing events. Blû has a Southwest-American menu with generous Italian and Asian influences as well as a delightful sushi menu.

The backdrop of the Atlantic Ocean and Bermuda’s pink sand at Elbow Beach set the perfect tone for a light lunch or an evening out at this award-winning Italian & seafood restaurant.

FOURWAYS CATERING

FOURWAYS INN RESTAURANT

1 Middle Road, Paget T 441-236-6517 | E info@fourways.bm

1 Middle Road, Paget T 441-236-6517 | E info@fourways.bm

Fourways Catering combines culinary passion with commitment to outstanding service. Bermuda’s leading caterer for over 50 years. Serving everyone from royalty and past presidents to cafeteria lunches... no catering is too big or too small.

The Grande Dame of Bermuda’s restaurants, famous for its celebrity guest list, renowned menus, signature dishes and Bermuda’s most lavish Sunday brunch.

Live piano music in the evening and the most extensive wine cellar on island for discerning connoisseurs, regularly re-stocked from Sotheby’s.

WHY DINE ANYWHERE ELSE? 441-295-8279 | W W W. D I N I N G B E R M U DA .C O M

DINING BERMUDA LE A D E R S

O F

HARBOURFRONT

I N N OVAT I O N

IN

DIN IN G

LA TRATTORIA

At the BUEI, 40 Crow Lane, East Broadway T 441-295-4207 | E info@harbourfront.bm

Washington Lane, Hamilton T 441-295-1877 | E info@trattoria.bm

On the harbour, with its own dock, water lapping gently by the romantic table setting. Catch the sunset from the upper deck. Try our sushi and tempura or savoury dishes featuring the best selection of meats in Bermuda.

One of Bermuda’s longest standing restaurants and a favourite of locals and visitors alike. This festive trattoria has the island’s first wood-burning pizza oven as a centerpiece and is recognized as best in Bermuda for their hearty Italian food, and warm, kid-friendly environment, all at an extraordinary value.

LITTLE VENICE

L’ORIENTAL

32 Bermudiana Road, Hamilton T 441-295-3503 | E info@lv.bm

32 Bermudiana Road, Hamilton (upstairs Little Venice) T 441-296-4477 | E info@loriental.bm

Celebrating over 50 years of fabulous food and fine wine, with classic and contemporary regional Italian specialities.

Spectacular wine list and an ambiance that sparkles with zest. Great outdoor dining on the terrace.

Above Little Venice is Hamilton’s best Oriental & Chinese Restaurant.

Fusion cuisine, authentic Chinese dishes, a teppanyaki table and a sushi bar all in one place. Seating available inside under the exquisite Pagoda or outside under the stars.

SEA BREEZE LOUNGE

SUL VERDE

Elbow Beach Sea Terrace, Paget T 441-236-9884 | E manager@lido.bm

60 Tucker’s Point Drive, Hamilton T 441-298-6983 | E bermuda@rosewoodhotels.com

Gorgeous ocean views await you at this oceanfront terrace. Sea Breeze offers the perfect Bermuda experience to enjoy refreshing local and classic cocktails, along with seasonal live entertainment.

Sul Verde brings the spirit of Southern Italy to the fairways, celebrating the simple, authentic flavors of Campania in a convivial setting. Delectable cheeses, pasta, bread, and sausages are prepared in-house using the finest ingredients.

WHY DINE ANYWHERE ELSE? 441-295-8279 | W W W. D I N I N G B E R M U DA .C O M

CONFERENCE AND MEETING SPACES

Corporate Events: A Business Guide

W

hen it comes to corporate events, conferences, and meetings, location plays a key role in setting the tone for success. Bermuda offers an exceptional combination of professionalism, convenience, and natural beauty, making it an ideal destination for business visitors looking to host events that leave a lasting impression. From conferences for hundreds to intimate board meetings, the island is home to a variety of venues and services tailored to meet diverse corporate needs.

Premier Venues for Corporate Events Bermuda boasts a range of venue options that cater to different types of corporate gatherings. The island’s luxurious resorts and boutique meeting spaces offer flexibility for any event. Many of these venues combine state-of-the-art technology with Bermuda's stunning landscape, creating a productive yet inspiring atmosphere.

Several of the island’s larger hotels are equipped with versatile ballrooms, breakout rooms, and outdoor spaces for team-building activities. Notable hotels like the Hamilton Princess & Beach Club offer expansive conference facilities, capable of hosting large groups for conferences, workshops, and retreats. These venues provide a full range of services, including audiovisual setups, catering, and accommodation, ensuring a seamless experience for event organisers.

For those seeking more unique spaces, boutique venues such as Rosewood Bermuda and St. Regis offer exclusive meeting rooms with a more personal touch. These spaces are ideal for private business meetings, executive retreats, or smaller team-building activities, combining luxury and privacy with the island's natural beauty.

Hamilton: The Business Hub In Bermuda’s capital, Hamilton, many venues provide convenient access to the island’s financial district, making them ideal for business travelers, plus wherever you are in Hamilton you’re always within within a short walk of restaurants, shops, and transport options.

42 Bermuda Business Visitor 2025

Private dining

In addition to the Hamilton Princess, The Bermuda Underwater Exploration Institute (BUEI) offers an interesting twist for corporate meetings, providing oceanthemed spaces and a more relaxed, creative environment for business gatherings. This venue is perfect for businesses looking to inject an element of fun and innovation into their meetings or conferences.

The City of Hamilton has a variety of green venues and properties that are the preferred option among the local community to host a variety of events. Pier Six in the heart of the city offers an ideal venue for corporate events, conferences, and private functions, blending modern amenities with Bermuda’s stunning waterfront views. It’s perfect for everything from business dinners to charity galas. For outdoor events, the upper terrace provides breathtaking views of the harbour.

Downstairs, and with a capacity of 550 people, is typically used as a cruise terminal during tourist season but can also be rented for conferences, and corporate events when ships are not in port.

Private Dining Rooms: Intimate and Professional For more intimate business gatherings, Bermuda offers private dining rooms that allow for professional discussions in a relaxed setting. These spaces blend fine dining with privacy, allowing business professionals to entertain clients or colleagues in style while enjoying some of the best cuisine the island has to offer.

Team-Building Activities: Strengthening Connections

Bermuda’s natural beauty provides an excellent backdrop for team-building activities that help colleagues connect outside of the office. From sailing excursions and beach outings to golf tournaments and island tours, Bermuda offers a variety of activities that encourage collaboration and relaxation. Many event planners in Bermuda, such as The Planning Factory, specialise in designing custom team-building experiences that cater to the specific goals of a business, whether that’s fostering communication, encouraging leadership, or simply unwinding after a productive meeting.

Partnering with Event Planners and Suppliers Planning a corporate event from abroad can be a daunting task, but Bermuda has a network of experienced event planners, such as The Planning Factory, and venue managers who specialise in corporate events. These professionals are adept at coordinating everything from transportation and accommodation to catering and entertainment, ensuring that business events run smoothly.

The Planning Factory works closely with clients to handle all logistics, allowing businesses to focus on the event itself.

It takes care of every detail, ensuring a hassle-free experience for international business visitors.

Why Bermuda?

Bermuda’s proximity to major North American cities, combined with its efficient infrastructure and worldclass amenities, makes it an attractive

CONFERENCE AND MEETING SPACES destination for corporate events. Business travelers can enjoy direct flights from cities up and down the east coast of the US, arriving on the island in under two hours. This ease of access, combined with the island’s warm hospitality and stunning views, ensures that Bermuda leaves a lasting impression on both hosts and attendees.

Moreover, Bermuda's reputation as a global business hub, particularly in industries such as insurance and finance, further solidifies its standing as an ideal location for corporate gatherings. The island’s commitment to sustainability and

its wide range of business services make it a versatile destination that appeals to a variety of industries.

Bermuda offers business visitors a unique combination of world-class meeting facilities, stunning natural surroundings, and a wealth of experienced professionals to help plan and execute successful corporate events. Whether you're hosting a large conference, a small team-building retreat, or an intimate business meeting, the island has the venues and services to meet your needs. With its close proximity to North America, Bermuda is not only a beautiful location Dinner and entertainment on the beach

but also a convenient and practical choice for business gatherings.

Planning Factory Bermuda As designers, the Planning Factory has been categorised as being dreamers, perfectionists, work-a-holics; even being relentless in the pursuit of managing details; we say ok, agreed! Our clients appreciate the results we achieve through professionally developed strategies and finely executed plans, the stunning architectural and event designs we produce, and our purposeful, efficient meetings management from contract negotiations to gala closing night spectacular! All in one company? Yes. We deliver completed projects across the board anchored in design: how we look at using space and how people interact, layered in with education, hard work and creativity — maybe the next "dream" will be yours. Cher L. Przelomski, CSEP, V-P Marketing. Email: Cher@planningfactory.com @planning.factory. Tel: (441)-295-8400 – Office. (302)-388-3601 - Universal cell phone. n

GLOBAL Seamless Design

Strategic, well-planned, perfectly executed Architectural Design, Space Planning, and Corporate Event Management — in Bermuda or anywhere in the world! planningfactory.com 441 295 8400

Bermuda Business Visitor 2025 43

BESPOKE LUXURY

Luxury Services and VIP Experiences in Bermuda:

The Business Visitor's Ultimate Guide

B

ermuda is synonymous with luxury, catering to high-net-worth individuals and business travelers seeking unparalleled service and exclusive experiences. The island is not just a tropical paradise; it is a destination for those who demand the finest in life, whether that’s arriving by private jet, chartering a yacht, or indulging in a bespoke dining experience. Bermuda’s elite offerings extend far beyond its postcard-worthy beaches, ensuring visitors can enjoy toptier luxury services while exploring the island’s rich culture and natural beauty.

We explore the most premium services available to Bermuda’s VIP visitors, highlighting why this island remains a top destination for discerning travelers.

Private Jet Services: Arriving in Style For the most exclusive travelers, nothing says luxury like arriving in Bermuda aboard a private jet. Bermuda’s L.F. Wade International Airport offers a dedicated executive terminal for private jet arrivals, ensuring a smooth, discreet, and personalized experience from the moment you land. Private jet services are available through companies such as Wheels Up and NetJets, both offering on-demand charters and customisable flight options tailored to the individual needs of highnet-worth passengers.

These companies cater to business travelers who require both flexibility and efficiency. With Bermuda’s prime location just a few hours away from major cities such as New York, Miami, and London, private jet travel to the island is an ideal option for VIP visitors looking to maximise their time.

Luxury Transportation: First-Class Ground Travel Upon arrival, Bermuda offers an array of high-end transportation services. Whether it’s for a corporate event or a private 44 Bermuda Business Visitor 2025

Spacious 77ft sailing catamaran Zara

retreat, luxury transportation companies can provide chauffeured cars, including premium sedans and SUVs, ensuring visitors travel around the island in comfort and style.

VIP transportation services can also extend to aerial tours in a small Cessna, giving travelers a bird’s-eye view of Bermuda’s pink sand beaches and crystalclear waters.

Yacht Charters and Private Boat Tours: Exploring Bermuda’s Waters Bermuda’s coastal beauty is best experienced from the water, and there is no better way to do this than through a private yacht charter. Yacht services such as Bermuda Yachts with its spacious 77ft sailing catamaran, offer bespoke charters tailored to guests’ preferences, whether it’s for a sunset sail, or private island hopping.

High-net-worth individuals can charter luxury yacht The Venetian, complete with a crew, catering, and water sports equipment to explore Bermuda’s picturesque harbors and secluded coves.

Private boat tours and deep sea fishing can also be arranged for smaller, more intimate experiences.

Exclusive Golf Experiences: Tee Off in Paradise Bermuda is home to some of the most exclusive and beautifully designed golf

courses in the world. For business travelers and high-net-worth individuals, these courses offer an unbeatable combination of sport and luxury. Courses such as the Mid Ocean Club and Port Royal, home of the PGA Tour Butterfield Championship, are known for their impeccable landscapes.

The island’s golf experiences cater to those looking to unwind between meetings. With breathtaking ocean views, Bermuda’s golf courses deliver both challenge and relaxation in one of the most scenic locations on the planet.

Luxury Spa and Wellness Experiences: Unwind in Elegance Luxury travelers in Bermuda can find peace and rejuvenation through the island’s upscale spa and wellness experiences.

Many resorts feature high-end spa services, offering everything from personalised wellness programmes to restorative massage treatments. These exclusive spas are havens of tranquility, providing treatments that combine Bermudian traditions with modern techniques to ensure total relaxation.

For those seeking a holistic wellness retreat, private yoga sessions, guided meditation, and bespoke fitness programs can be arranged in the privacy of their suites or on the beach. Bermuda’s natural surroundings make it the perfect setting for a luxurious wellness experience,

BESPOKE LUXURY whether you’re detoxing or simply seeking serenity.

Private Dining VIP visitors can also enjoy private dining experiences at some of Bermuda’s top restaurants, such as Port O’ Call and Little Venice, where custom menus can be created by renowned chefs using the finest local ingredients. These private dining events offer an exclusive way to savor Bermuda’s culinary delights while entertaining business clients or friends.

Custom Jewelry Design For high-net-worth individuals seeking exclusive and unique pieces of jewelry or luxury watches, Bermuda has a number of custom designers and jewelers offering exquisite craftsmanship. Walker Christopher, for example, is renowned for its fine treasure coins and luxury jewelry.

Whether you’re looking for a custom engagement ring, or a bespoke piece commemorating your time on the island, Bermuda’s jewelers provide exceptional,

Luxury charter yacht The Venetian

personalised service.

Business travelers looking for a unique souvenir or a special gift can work with Bermuda’s skilled artisans to design custom pieces that reflect the island’s beauty and elegance. These one-of-a-kind creations offer a tangible connection to Bermuda’s rich history and luxurious lifestyle.

Private Security and Personal Protection For high-profile individuals, personal safety and security are paramount.

Bermuda offers discreet and highly professional private security services for those who require personal protection during their stay. These services can be arranged through specialized security firms such as Security Associates, that cater to VIP clients, providing tailored security plans, secure transportation, and personal protection details to ensure safety without compromising privacy.

Concierge Services For business travelers and high-networth individuals relocating to Bermuda,

FOR ALL YOUR PROFESSIONAL SECURITY MANAGEMENT NEEDS Our Services:

4 Commercial Security

4 Aviation Border Control

4 Nightly Patrols

4 Maritime Border Control

4 Alarm Consultations

4 Security Training

Contact:

441-292-2626 info@sabermuda.com sabermuda.com @sabermudalimited

Bermuda Business Visitor 2025 45

BESPOKE LUXURY concierge services like Corporate Concierge and Soft Landing offer bespoke support that goes beyond the ordinary. Corporate Concierge has been leading the way in relocation services for top executives for more than 15 years, providing everything from assistance with immigration and housing to helping new residents navigate life on the island. Similarly, Soft Landing specialises in making relocation seamless, offering tailored assistance for executives and their families as they transition to life in Bermuda, ensuring that their focus can remain on business. Both services are dedicated to providing a smooth, stressfree experience for inbound and outbound clients.

Bermuda’s luxury services and VIP experiences offer business travelers and high-net-worth individuals an array of exclusive and sophisticated options to enhance their time on the island. From private jets and yacht charters to custom jewelry design and world-class golf experiences, Bermuda’s elite offerings cater to those who seek the very best. Whether visiting for business or pleasure, VIP travelers can rest assured that Bermuda will exceed their expectations in both luxury and service, making it the perfect destination for those who demand nothing but the finest.

RECOMMENDED VIP SERVICES Bermuda Yachts If you are looking for a luxury private boat charter then look no further than Bermuda Yachts! Zara is a spacious and comfortable 77ft sailing catamaran perfect for groups of any size up to 75 passengers with a full bar onboard and catering services that can be arranged. Zola is a 33ft sailing catamaran perfect for smaller groups up to

Your limo and driver

15 passengers. Zena is a 32ft powerboat perfect for smaller groups looking to go fast. There is no better way to experience the island than from the water.

For more info and to book visit www.bermuda-yachts.com

Corporate Concierge Corporate Concierge provides customised destination services and relocation support.

For fifteen years we have been leading the way in welcoming Bermuda’s top executives to the island. We provide a white glove service to the international business sector in Bermuda and their overseas offices globally. We work with inbound and outbound relocation clients, as well as with new start-up companies, digital nomads and new property owners.

We work closely with government agencies, global mobility companies, law firms and realtors to ensure our clients experience a seamless transition to Bermuda. We look forward to supporting you too. Office: +441 296-8663 Email: sj@corporateconcierge.bm Dallas Building, 3rd Floor, 7A Victoria

Bermuda is well served by private jet services

46 Bermuda Business Visitor 2025

Street, Hamilton HM11

Security Associates We're ready to be your own full service security team. We provide a number of different security solutions to our clients and tailor them specifically for their needs and risk profile. Our solutions are designed with flexibility and innovation in mind and are in line with international industry standards.

Our clients are guided through every step of the security system planning process, sharing our security and management experience gleaned locally and globally in a wide range of security environments.

The Security House, 81 Victoria Street, Hamilton HM 08 441 292-2626, info@sabermuda.com, Twitter, Facebook, YouTube

Soft Landing Relocation (Bermuda) At Soft Landing Relocation (Bermuda), we are dedicated to providing exceptional relocation services for individuals, couples, and families, ensuring a confident and seamless transition to life on the Island.

As your trusted partner, we simplify every step, offering tailored, cost-effective solutions as well as comprehensive, ‘donefor-you’ packages designed to meet your specific needs.

Whether you seek minimal assistance or full-scale support, our commitment is to deliver a smooth, stress-free experience.

Rest assured, with us, every detail is managed with precision, care, and professionalism. Contact us today: Call or WhatsApp: 441-535-2769 Email: info@softlanding.bm Visit: www.softlanding.bm n

Est. 2007

HOME FINDING SHIPPING

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SCHOOL PLACEMENT DRIVING LICENSE AND MORE..

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Your Bespoke Relocation Concierge For Bermuda

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info@bermuda-yachts.com www.bermuda-yachts.com

ZARA

77ft Sailing Catamaran Max Capacity: 75

ZOLA

34ft Sailing Catamaran Max Capacity: 15

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For more info and to book a private charter please visit www.bermuda-yachts.com

32ft Powerboat Max Capacity: 8

TIME OUT

Put on your running shoes Y

of trails in this area with stunning views of the ocean. If the run doesn’t take your breath away, the views will. If you’re a road runner, one word of caution. Only a few roads have sidewalks, so stay close to the edge, be sure to wear bright or reflective clothing, and when it’s dark wear a flashing light.

ou can run anywhere in Bermuda, including right from the front door of your hotel. So don’t forget to pack your trainers. The Railway Trail and of course along the beaches are very popular places to run. If you enjoy cross country, ask for directions to the Warwick dunes. There are several miles

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Cigars for aficionados, Cigars for aficionados, connoisseurs and those connoisseurs those who are just darnand curious.

who are just darn curious. 

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Business on the beach

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ou’re never far from a world-class beach in Bermuda. Bermudians usually wait until Bermuda Day, celebrated on the last Friday in May, before taking their first dip in the ocean. But the water is warm enough for swimming year round. At the very least, you’ll want to enjoy a walk along the beaches in the winter, and in the summer cool off in the clear blue waters.

The large resort hotels have private beaches. The most popular public beach, Horseshoe Bay on the south shore in Southampton, is rated among the world’s finest. There’s a restaurant and bar, changing facilities, showers and lockers. You can even rent a chaise lounge and umbrella. A lifeguard is on duty in summer. And best of all for those who need to stay in touch with the office back home — WiFi is available.

TIME OUT

Friday night fever

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Flanagan’s are popular hangouts, as is the Little Venice on Bermudiana Road.

Marina Nights at the Hamilton Princess Hotel and Beach Club takes happy hour to a new level with live entertainment and barbecued goodies from 5pm to 9pm every Friday from May to September.

riday night happy hour, when the drinks are cut-price and Bermudians and expats traditionally let their hair down after a hard week at the office, has become a popular tradition for office workers on the Island.

Front Street, Hamilton bars like Port O Call, The Front Yard and

NOTHING TO DO?

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lthough there no regular shows, concerts or sophisticated nightclubs, there are still plenty of things to do in Bermuda. Check out the websites below for what’s on while you’re here. Throughout the year there are special theatre productions, concerts, film festivals, comedy shows, dinner shows, night time sports events and night cruises. You’ll also find many activities tied into seasonable celebrations. www.nothingtodoinbermuda.com www.ptix.bm www.bermudatix.com

A local production of South Pacific. Visit www.bmds.bm and search for Gilbert & Sullivan Society of Bermuda on Facebook to see if there’s a theatrical performance scheduled during your visit.

The City of Hamilton produces a series of special events throughout the year, including outdoor movies, festivals, arts and cultural initiatives. Visit www.cityofhamilton.bm for details.

Local pubs like Hog Penny in Hamilton come alive on weekends with performances from talented local musicians.

Bermuda Business Visitor 2025 49

TIME OUT

The Pursuit of Pleasure:

Bermuda Style Golf Port Royal is home to the Butterfield Bermuda Championship, a prestigious event on the PGA Tour, boasting a 120-player field and a $6.9 million purse. With six well-maintained courses, Bermuda is a golfer’s paradise, offering stunning ocean views and challenging layouts. While October to April marks

Jet skiing

Sea kayaking

50 Bermuda Business Visitor 2025

the peak golf season, locals enjoy the sport year-round. Visitors can easily book tee times, though private clubs may require introductions from a member or assistance from your hotel concierge.

Diving and Snorkeling Bermuda’s underwater world is a haven for divers and snorkelers, featuring

Deep sea fishing

TIME OUT vibrant coral reefs and historic shipwrecks. With more than 300 wreck sites and warm, crystal-clear waters, it’s no surprise that the island is one of the world’s top dive destinations. Whether you’re a beginner or an experienced diver, there’s plenty to explore beneath the surface, from colorful marine life to Bermuda’s rich maritime history.

Deep Sea Fishing

Exploring nature

Set sail on a deep sea fishing adventure and experience the thrill of reeling in big game fish like marlin, tuna, and wahoo. Bermuda’s waters are renowned for their abundance of marine life, making it a top spot for sport fishing enthusiasts. Whether you’re a seasoned angler or trying it for the first time, a fishing trip in Bermuda promises unforgettable excitement and beautiful ocean views.

Jet Skiing For a heart-pounding adventure, hop on a jet ski and explore Bermuda’s coastline at high speed. Tours are available from several locations across the island, offering both thrilling rides and opportunities to discover hidden coves and beaches. Jet skiing is the perfect way to combine adventure with sightseeing, giving you a fresh perspective of Bermuda’s natural beauty.

Explore Nature

Diving Golf

Bermuda is an ecological wonderland, offering a range of outdoor activities for nature lovers. Hike along the scenic Railway Trail, a path that stretches the length of the island, or venture into one of Bermuda’s many nature reserves.

Whether you’re exploring lush forests, winding trails, or peaceful coastal landscapes, the island offers a stunning array of flora and fauna to discover.

Kayaking Kayaking in Bermuda is a peaceful yet exhilarating way to explore the island’s tranquil waters and rich marine life.

Paddle through crystal-clear bays and around colorful reefs, where you can encounter a variety of sea creatures.

With numerous guided tours available, kayaking is a perfect way to enjoy the serenity of Bermuda’s coastal environment while staying active. n Bermuda BermudaBusiness BusinessVisitor Visitor2025 2025 51 2

What is Craftsmanship ?

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To be crafted is to meet exacting standards.

©2025 Chubb. Coverages underwritten by one or more subsidiary companies. Not all coverages available in all jurisdictions.

Chubb®, its logo, Not just coverage. Craftsmanship.SM and Chubb. Insured.SM are protected trademarks of Chubb.

It’s the human touch that combines art and science to create something unique.

We tend to think about craftsmanship in terms of physical things: fine wine, classic cars, custom furniture and iconic structures.

But what about the underwriting of insurance to craft protection for your unique and valuable things? And the service behind that coverage when you need it most — like claims and loss prevention?

For your business.

Your employees.

Your home.

The people you love.

Things that need a particular kind of protection and service.

The kind Chubb provides.

chubb.com