Bermuda: The Basics |
Transportation — to and from Bermuda You can fly here or you can sail. A number of cruise lines make Bermuda their port of call. Some only travel to Bermuda, plying the route between New York City and the Island every week of the tourism season, which is from April to November. The well-appointed cruise ships take a day or two to sail to Bermuda, spend a few days here, and then sail back to New York, all in just a week. Quite a few people arrive in Bermuda on private boats or ships, coming and going at will as they cruise around the Caribbean waters. Others fly to Bermuda, or having acquired a taste for the Island on a cruise visit, come back by plane for a longer vacation. Direct flights operate daily to Bermuda in season (check with your travel agent) from Atlanta, Baltimore, Boston, Charlotte, New York City, Miami, Newark, Philadelphia and Toronto. Flights from other cities are always in the offing. Connections into Bermuda can be made from just about anywhere in North America. British Airways operates several flights a week directly to and from London’s Gatwick Airport. Connecting flights to other European and longer-haul destinations are available from London. As you’d expect, prices of flights vary depending on the day of the week and the time of the year, so check with your travel agent. Transportation — within Bermuda Because of Bermuda’s small size, automobiles are strictly limited in Bermuda to one car per household. Being a British territory, we drive on the left. A 20 m.p.h. speed limit applies throughout the Island. Our roads are too small and busy to allow us to offer rental cars, but we have efficient public taxi, bus and ferry services which will get you where you need to go, anywhere in Bermuda. We even have horse-drawn carriages for relaxed sightseeing tours, as well as serious fishing vessels you can charter for deep-sea fishing, or just sightseeing. If you choose, you can rent a moped and get around like most Bermudians do, enjoying the breeze, or “Bermuda air-conditioning,” as it is known locally. If you do rent a bike, drive slowly and carefully and don’t look over your shoulder: other drivers will respect your right of way. Of course, Bermuda is best seen on foot. Wander around Hamilton, taking in the shops; walk along our 150 kilometres of road; follow the path of what was once the Bermuda Railway, now a lovely walking trail; walk the African Diaspora path that is gaining international attention; or just go for a stroll in one of our National Parks. On foot, or what the British call “Shanks’s Pony”, you’ll have time to see what’s going on. Make sure to stop and smell the oleanders. Accommodation Where you stay will depend on the kind of vacation experience you’re looking for. Bermuda has a range of accommodations from the basic to the five-star. A number of exclusive resort hotels cater to the most demanding tourist tastes at the high standards our international business visitors have come to expect. There’s a place in Bermuda too for those looking for a quiet, inexpensive getaway. Some of our smaller properties have self-catering facilities. In between, Bermuda offers a host of accommodation choices to satisfy every budget. Before deciding, take a look at Bermuda on the web. Talk to friends who have been here before and ask them what worked for them, and what didn’t. Choose a hotel or guest house that suits your budget and the type of vacation you’re looking for. Your travel agent, as always, is an invaluable source of information and advice a-n and may be aware of some of the deals that are out there to make your vacation a better experience. Activities Again, what you do in Bermuda will depend as much on you as it does on the Island. Some of our visitors are looking for the quiet life, which Bermuda has in abundance. The beaches are gorgeous, and it’s true, we have pink sand on many of our beaches, particularly along the South Shore. The pink colour comes from the coral reef just off the Island. Many of the hotels have swimming pools, and quite a few people come to Bermuda to “do nothing”. If that’s what you’re looking for, there is no better place in the world. No one will hassle you and the weather is pretty good all year round. If it rains this morning, don’t sink into a funk; it will probably be nice this afternoon. Some come to Bermuda to shop, and for them we have an interesting range of retail possibilities, with goods from all over the world. Front Street, Reid Street and Court Street offer different shopping experiences and opportunities, an each has its own flavour. Shopping is a relaxed business here. We don’t go in for the hard sell. Those looking for nightlife will find it in Bermuda, with discotheques, clubs, live music and more. The vogue words in travel these days are “cultural tourism.” Bermuda has been in the business for so long, we didn’t even know it had a special name. The town of St. George’s, for example, is the oldest continuously-populated place in the Western hemisphere and is now a World Heritage site. Despite its outward somnolence, St. George’s and East End of the Island are full of interesting corners, sport some great beaches and are our secret gem. The pace down there at the East End is not markedly different from the way it was almost 400 years ago. As you’d expect on an island that is rarely as much as a mile wide, the ocean features heavily in our attractions. The Bermuda Aquarium and Zoo, the Bermuda Underwater Institute, the Bermuda Maritime Museum — you get the idea. Business in Bermuda As you can read elsewhere in this directory, Bermuda is home to all kinds of business interests. Investment holding companies form the largest single group of companies on the Bermuda register. They represent about one-third of the 15,000 companies on the Register. The second largest category of Bermuda exempted companies is made up of insurance companies. Bermuda, believe it or not, is one of the world’s three largest insurance centres, the others being London and New York. Not bad for an island with just 62,000 inhabitants! Bermuda insurers and reinsurers cover a complete variety of risks, with specialisations in the areas of property and catastrophe, excess liability, professional insurance and “captive” companies. A small but growing number of companies underwrites life reinsurance. More than 200 additional Bermuda-based companies are insurance brokers and insurance management companies. Other types of companies well represented on the register include: commercial trading companies; management companies and consultants; mutual funds; natural resources; and shipping. In addition to companies, trusts, settlements and partnerships can be established in Bermuda. Just about the only thing you can’t do in Bermuda is to set up a business to operate inside Bermuda. We like to keep that small part of the business world to ourselves, as you might expect. The way we phrase it is that you can do almost any kind of business from Bermuda (other than pornography, gambling or other less savoury practices), but you can’t do business in Bermuda. Business meetings and conferences As you might expect, Bermuda is one of the best places in the world to hold a business meeting, whether it’s a small board meeting to plan strategy, or a sales conference with 1,000 people. We have destination management companies and convention and tour planners who will help you plan every detail of your Bermuda meeting down to the sun tan lotion. They’ve been doing it for a long time, and routinely assist many of the largest companies in the world to make their conventions and meetings a success. Owning a Bermuda company Bermuda’s advantages include the regulatory, legal and fiscal frameworks; a good infrastructure; location; support services; political stability; and taxes. The regulation of international business in Bermuda is both fair and reasonable. Bermuda remains convinced that its regulatory framework should be minimal and flexible, while still conforming to the highest international standards. Bermuda has been given a clean bill of health by the OECD, the Financial Action Task Force, the United Nations, the British Government and a host of other international bodies. The current legal and fiscal system is relatively uncomplicated. It is based on English law. The absence of burdensome restraints imposed by complex legal and regulatory frameworks sometimes found in other centres allows for a streamlined and speedy application process when new companies are being formed. But don’t mistake or friendly manner for a lack of ineterest. Those who want to form businesses here are closely monitored and will be asked to prove their bona fides. An excellent telecommunications network and transportation facilities link Bermuda directly with just about every other country around the world. The network comprises telephone, facsimile, satellites, telexes and other similar services. We have broadband access to the Internet, and your hotel will almost certainly be able to connect you. If you’re out and about, and want to check your e-mail, or just go surfing, we have Internet cafes, too. Being one hour ahead of the North American Eastern Seaboard, four hours behind the United Kingdom, and 7 to 12 hours behind the Middle East and Far East countries enables Bermuda to offer itself as an excellent location for operating international businesses. With its easy access by air to most international centres, and its appeal as a sub-tropical paradise where its people are well used to catering to overseas visitors, Bermuda is the place to hold business meetings. The banking, trust, accounting, custodial and legal services necessary to support international business are of a high international standard. These are supplemented by local management, financial and corporate service companies. Bermuda’s people are among the most literate in the world. Bermuda has an intelligent, well-educated and talented labour pool to assist in the day-to-day operation of Bermuda business. Bermuda is politically, economically and socially stable, ensuring a favourable environment in which to conduct business. Bermuda is committed to maintaining its integrity as an international offshore financial centre, and to maintaining its reputation of providing exceptionally high standards. There are no income taxes, withholding tax, capital gains tax, capital transfer tax, estate duty or inheritance taxes payable in Bermuda. A Bermuda exempted company may, under current policy, apply to the Bermuda Government for an exemption from paying any taxes until 2016, should taxes be imposed on corporate activities after the company is incorporated. We do levy import duties on goods to be sold in Bermuda. We also have payroll taxes and all manner of other pesky contributions that working people must make, but for visitors, the only applicable taxes are a departure tax (usually rolled up into your ticket or cruise ship cost), and a levy charged on hotel rooms. Owning a Bermuda home For many people, the idea of owning a home in Bermuda is the last word in luxury. The problem is, we only have so much land (about 22 square miles) and they aren’t making any more of it. So we have a rule that says that Bermuda houses can only be owned by Bermudians. Some condominium developments are available for non-Bermudian ownership, and some time-share apartments, all of which our realtors would be happy to show you. If you are thinking of owning property in Bermuda, a realtor is your best friend. Be nice! Bermudians are noted for their friendliness. Despite our busy lives, we will find the time to help you if you are nice to us in return. Life here is less of a rat race than it is elsewhere, and some of our visitors are used to the idea that to be heard, they must shout. Not so. We deal much more in the honey department than we do in the vinegar. People here want to help. All you have to do is ask nicely. The assistance of the Bermuda Monetary Authority in the preparation of the foregoing is gratefully acknowledged. |