Bermuda Business Development Agency (BDA): Best Direct Investment Partner North America 2020

Bermuda is rightly famous for having pink sand beaches and more golf courses than you can shake a putter at, but it’s just as highly regarded as an international financial centre. The Bermuda archipelago covers just 32 square kilometres and can be reached by direct flights from New York, London and Toronto — easy access for international businesses. Over the past seven years, Bermuda Business Development Agency (BDA) has promoted and encouraged inward direct investments that have strengthened the economy as well as the island’s business-friendly reputation and gold-standard regulatory framework. The agency serves as a facilitator and first point of contact for those interested in setting-up, re-domiciling or expanding business operations. The BDA stresses the ease of doing business in Bermuda, with a favourable tax system and a collaborative relationship between government and industry. Bermuda boasts one of the world’s highest GDPs per capita, with international business and tourism serving as the key drivers of the economy. Island residents enjoy world-class infrastructure, including excellent transport and telecommunications. The island’s location in the North Atlantic makes it an ideal time zone for serving global markets. Bermuda BDA engages with the global community — and blue-chip companies in particular — to promote the island’s advantages. It understands what industries need and liaises with the government and independent financial services to advocate mutually beneficial solutions. In 2019, the BDA assisted 31 new corporate arrivals and collaborated on the advancement of seven legislative acts to support a broad range of existing industries and open avenues for future diversification. The CFI.co judging panel presents Bermuda Business Development Agency with the 2020 award for Best Direct Investment Partner (North America).

CEO: Andy Borrows

Roland Andy Burrows, CEO of the BDA, said: “This award is testament to the hard-work and commitment of the entire team at the BDA, including our board members who volunteer their time and efforts to advocate for Bermuda as a world-leading financial jurisdiction. Together, with our stakeholders, we work to encourage inward direct investment to benefit the island’s economy and ensure Bermuda’s legislative and regulatory framework remains the gold standard. We are delighted to have been acknowledged by Capital Finance International. The announcement of the award is positive news for everyone and comes at a time when the BDA is indefatigable in its efforts to deliver for our partners, not only in North America but domestically and internationally, during these challenging times.”