4 ms·

Something something BVI, Panama, Belize... True disruption to the existing system

• etothepii 3y ago
  Bermuda is nothing like these places. Bermuda is the third largest insurance market in the world, with pretty much every Fortune 2000 company having insurance that comes through here. The ultimate court (though technically a different body) contains the same people as the UK's Supreme Court, the legal system is accountable to London (through a UK appointed, UK career civil servant called the Governor) as are the police. The laws and taxes are all made and raised locally. There is a high level of infrastructure, safe etc. and best of all (unlike SF) I've never seen anyone defecating in the streets.
  • varjag 3y ago
    If street defecation is your metric than about any place in semi-developed world is equally great. Why all these Fortune 9000 companies run their business via Bermuda rather than home jurisdictions again?
    • sclarisse 3y ago
      Why does everyone incorporate in Delaware? Stable, predictable law, commonly used and understood by others in the industry, and — I say the following as a top tier cryptohater — somewhere the regulatory authorities aren’t out to get you as part of their personal or populist vendettas.
      • varjag 3y ago
        Delaware specifically for the lack of corporate tax.
    • etothepii 3y ago
      I am not aware of "Fortune 9000 companies" that "run their business via Bermuda". However, large chunks of the worlds insurance comes through here.