Every International Offshore Financial Centre
has developed its own specialisations, and in
Bermuda's case it is insurance that stands out;
mutual fund management is also strong, assisted
by the existence of the Bermuda Stock Exchange
There
has also been strong development in the trust
management sector, fed particularly by an exodus
of assets from Hong Kong when the territory reverted
to Chinese rule.
International
banks were conspicuous by their absence due to
the Government's policy of excluding non-domestic
banks; then HSBC was allowed to buy the Bank of
Bermuda in 2003. However local banks provide adequate
services, and there has been a substantial development
of 'fringe' financing activities along with securities
trading, and most recently a surge in Internet
financial services.
This section of the lowtax.net site describes
the most important types of offshore business
activity carried out from the island.
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