Earlier today, the Minister of Economy and Labour, Hon. Jason P. Hayward JP, MP, addressed attendees at the STEP Bermuda Conference 2024, reaffirming Bermuda's world-class reputation.  

The conference held on October 15-16th at the Bermuda Under Water Exploration Institute (BUEI) offers a unique opportunity to gain cutting-edge insights and expert perspectives in trusts, estates, and wealth management from 150 industry leaders, innovators, and practitioners.   

Bermuda has evolved into one of the most respected international financial centres built through rigorous regulatory standards, a commitment to transparency, and the ability to adapt to the shifting global economic landscape. Bermuda's regulatory environment meets the highest standards, ensuring we maintain our position as a premier jurisdiction of choice for high-net-worth individuals and multinational corporations.

Reaffirming the island's long-standing reputation as a world-class centre for trust services, financial innovation, and expertise, the Minister of Economy and Labour, the Hon. Minister Hayward JP, MP, highlighted Bermuda's:  

• Financial Leadership: Recognized as a leading international financial centre, built on high regulatory standards, transparency, adaptability to the global economic landscape and a premier jurisdiction for high-net-worth individuals and multinational corporations.  

• Family Office Solutions Framework: Bermuda provides a comprehensive platform that leverages the island's legal and regulatory systems and tax-neutral environment while balancing regulatory oversight with flexibility. It ensures privacy, stability, and asset protection for ultra-high-net-worth families and offers wealth management, succession planning, and investment solutions.  

• Economic Investment Residential Certificate (EIRC) Programme: This programme aligns with the Family Office Solutions Framework to create a seamless ecosystem for wealthy individuals seeking to live, work, and invest in Bermuda by making significant contributions to Bermuda's economy to qualify for long-term residency. It has attracted over $500 million in local businesses and real estate investments.

• Jurisdiction of Choice: The government recognizes the importance of trust professionals in maintaining Bermuda's global leadership in estate planning and remains committed to being a jurisdiction of choice with a robust legal framework, expert workforce, and a responsive government.

To review the Minister's remarks (attached), visit gov.bm/news.