Bermuda Government to reform 60/40 rule
PLP returns to power in election surge
The proposal by the Government of Bermuda to relax the rules surrounding ownership of Bermudian companies might well lead to an increase the amount of investment in Bermuda, according to an exclusive new survey by Bermuda:Re+ILS.
In the survey we asked readers “Will the Bermudian Government's proposal to allow up to 60 percent foreign ownership of companies increase investment in Bermuda?”
The results were clear. 61.1 percent said that the proposal would result in just such an increase, 38.9 said that it would stay the same, whilst no-one thought that it would lead to a decrease.
Readers sent in a wide range of comments about these results. One said that it doesn't go far enough whilst another said that the proposal was “Still not enough to stimulate foreign investments. The damage has already been done.”
On the other hand some were more positive, with one entry saying that the proposal could potentially allow 20 percent more investment than has currently existed. Another stated that any investors want to have the majority in the business for steering and controlling reasons.
According to one reader: “Bermuda has to defend its position in competing with other countries and territories, so as to attract new business.”
However, another reader was more ambivalent, saying that: “It certainly won't decrease investment and it won't stay the same (as nothing dies) - so logic says it will increase - could be by a lot or a little...”
Another comment was that reduced constraint will foster a greater range of business opportunities.
Bermuda, Government, survey, proposals, 60/40 rule, finance