Bermuda International, Private And Offshore Banks

The Banks and Deposit Companies Act 1999

The Bermudan economy has been highly successful, with tourism and international business being the two main sources of revenue.

Over 400,000 tourists visit the island annually, mostly from North America. Bermuda has developed into a highly successful offshore financial center.

Bermuda is the world’s largest captive insurance domicile. Locally based companies account for 1/3 of the world’s catastrophe reinsurance capacity.

Banks

Bank of Butterfield Ltd 
Provides retail banking and full international business services.

Bermuda Commercial Bank Ltd
Incorporated in 1969, then as Bermuda Provident Bank Limited. Its name was changed in 1984. It has about 63 employees.

Its majority non Bermudian shareholder is First Curacao International Bank NV, which acquired the bank in May 1993 from Barclay's Bank. It is for international business only.

Clarien Bank Limited
Clarien Bank Limited offers international banking services and is one of the largest independent integrated financial services organizations in Bermuda.

HSBC Bank Bermuda Limited 
International banking, insurance and trusts services.

List of Bermuda Offshore company service providers
List of Bermuda Offshore trust service providers

Background Facts

Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States.

Population: 69,080 (2012 est.)
Capital: Hamilton
Dialing code: 441
Currency: Bermuda dollar
Exchange control:
Bermuda has exchange controls which apply to residents and local companies.

There are no capital or exchange controls applying to non-residents or to the various forms of offshore entity (exempt or permit companies or partnerships) which are free to import and export funds in all currencies.

Government: Parliamentary, self-governing territory
Official language: English Language
Legal System:
English Common law

Bank Legislation: (.PDF Downloads)
The Banks and Deposit Companies Act 1999