Bermuda General Licences

2024

                   3 June 2024

FSIU has issued Bermuda General Licence 2024 / 03GL which allows for payment for the provision of legal services to a designated person under the Russia or Belarus regimes. Firms will not have to wait for a specific licence before they can receive payment from or on behalf of designated persons, provided that the terms of the general licence are met.

 Persons intending to use the General Licence should consult the copy of the Licence on the Sanctions Measures webpage, refer to FSIU’s General Guidance, and notify the FSIU (fsiu@gov.bm) in accordance with the reporting requirements.
 

2023

FSIU has issued Bermuda General Licence 2023 / 03GL under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 as extended by the Russia (Sanctions) (Overseas Territories) Order 2020 via the International Sanctions Regulations 2013.  General Licence 2023 / 03GL, permits Persons to  undertake activity necessary to terminate an arrangement to provide Trust Services between them and a Designated Person, provided that the terms of the general licence are met. 

Reports to the Minister of Legal Affairs and Constitutional reform in compliance with this licence should be sent to the FSIU (fsiu@gov.bm).
 

FSIU has issued Bermuda General Licence 2023 / 02GL under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019 as extended by the Russia (Sanctions) (Overseas Territories) Order 2020 via the International Sanctions Regulations 2013. General Licence 2023 / 02GL permits the supply or delivery of Russian oil and oil products by ship, as well as provision of associated services, subject to the price cap terms being met. 

Reports to the Minister of Legal Affairs and Constitutional Reform, in compliance with this licence, should be sent to the FSIU (fsiu@gov.bm). 

2022

  • General Licence - Russia Sanctions - Legal Fees.pdf (296.82 KB)


    20 December 2022

    FSIU has issued Bermuda General Licence 2022 / 05GL  which allows for payment for the provision of legal services to a designated person under the Russia or Belarus regimes. Firms will not have to wait for a specific licence before they can receive payment from these designated persons, provided that the terms of the general licence are met.
     

  • Financial Sanctions Update: General Licence: Russia Sanctions - Vessels
    20 October 2022

    FSIU has issued Bermuda General Licence 2022 / 04GL under Regulation 65 of the Russia (Sanctions) (EU Exit) Regulations 2019 as extended by the Russia (Sanctions) (Overseas Territories) Order 2020 via the International Sanctions Regulations 2013.
    General Licence 2022 / 04GL, provides regulation on the provision of technical assistance, financial services and funds, and brokering services, related to vessels. This licence takes effect from 20 October 2022 and is of indefinite duration.
    Any Persons intending to use the General Licence should notify the FSIU within 30 days of use.

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