Bermuda is a British territory in the North Atlantic with a capital city of Hamilton. The self-governing island has its own government and constitution, enacting its own laws, while the United Kingdom retains control over military and foreign relations. Offshore insurance, reinsurance, and tourism are the major industries which drive the territory’s economy. The island nation is located in the hurricane-belt, making it prone to severe weather and damage.

The small island-nation had a very developed economy through most of the 20th Century. The island quickly became a popular destination for Americans, British, and Canadian tourists, greatly driving its economy. The nation is also predominantly driven by the insurance and reinsurance markets. In 2007, the nation had the highest GDP in the world, at approximately $91,000 per capita. Low standards in business law and minimal regulation makes Bermuda a primary destination for major companies in the financial, insurance, and reinsurance markets to do business with overseas clients. It is a popular destination for tax avoidance, as there is no corporate income tax on the island.

Executive authority is vested in the British monarchy, and exercised by the island-nation’s governor, who is appointed by the Queen. Defense and foreign affairs are also carried out by the British government. There are accredited diplomats on the island as well, including the United States Consulate and the US Customs and Border Protection Services. The island also has international offices in London and Washington D.C., to maintain better international and foreign affairs.

The island nation of Bermuda, international relations, foreign affairs relating to the UK, and other international news coverage can by found by visitors on the National Law Review. Details about international affairs, tax-exempt statuses and no corporate income taxes, CFIUS and international merger/acquisition sales with foreign entities, financial and banking news, and other news related to the island nation, and the UK government, are covered by the National Law Review.


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