Appleby Bermuda Contributes to Private Trust Companies Handbook Second Edition

The Cost of Getting Employee Departures Wrong: Five Common Pitfalls for Bermuda Employers

Employee departures are an inevitable part of running a business, but the way they are managed can have significant legal, financial and operational consequences. In Bermuda, employers who approach terminations without adequate preparation may expose themselves to unnecessary disputes, regulatory issues, and reputational harm. Whether an employee is being dismissed for performance reasons, made redundant or departing as part of a negotiated exit, by recognizing the following common mistakes and taking a proactive approach, organizations can manage departures more effectively and reduce risk.

Anna Markiewicz

It’s time to bridge Pipa compliance gap

A review of 200 publicly available privacy notices of companies in Bermuda has revealed that just one in nine are fully compliant with the Personal Information Protection Act 2016.

Akira McDonald

Transparency is a legal requirement under Pipa

Major companies across the European Union have faced substantial fines between 2019 and 2024, estimated at a total of €930 million (about $1.08 billion), not only for cyberattacks or data breaches, but also for issues such as noncompliant privacy notices. A common theme in many cases has been a lack of transparency.

Akira McDonald

Outsourcing considerations for Bermuda insurers

As Bermuda insurers engage with third-party service providers to support their business functions, the Bermuda Monetary Authority has clarified its regulatory expectations surrounding outsourcing arrangements and operational resilience.

Aleisha Hollis

Economic substance regime now falls under Cita

Recent amendments to Bermuda’s economic substance regime have transferred regulatory responsibility from the Registrar of Companies to the Corporate Income Tax Agency.

Skye Burrows

Regulation, Regulation, Regulation

The article discusses updates to global trust guidance and regulation, as well as beneficial ownership and the regulatory burden on trustees that comes with increased transparency.

Richard Grasby

Purpose trusts: Bermuda’s answer to modern asset structuring

Purpose trusts represent a notable development in modern trust law, particularly within offshore financial jurisdictions such as Bermuda. Unlike traditional private trusts, which are established for the benefit of identifiable beneficiaries, purpose trusts are created to achieve specific objectives or purposes. Historically, common law jurisdictions were reluctant to recognise such arrangements due to the absence of beneficiaries capable of enforcing the trust. However, legislative reforms in Bermuda have significantly expanded the scope of trust law by expressly validating noncharitable purpose trusts. Through the enactment of the Trusts (Special Provisions) Act 1989 (‘the 1989 Act’), Bermuda introduced a statutory framework that allows trusts to exist for defined purposes, provided certain legal requirements are satisfied. This innovation has made Bermuda a leading jurisdiction for the establishment of purpose trusts, particularly in the fields of international finance, corporate structuring and private wealth management. This article examines the legal foundations of purpose trusts under Bermuda law, focusing on their historical development, statutory framework, requirements for validity, enforcement mechanisms and practical applications.

Claire van Overdijk KC, Mike Goulborn

Bermuda Regulatory Update – Economic Substance Amendment Act 2026

On 31 March 2026, the Economic Substance Amendment Act 2026 and the Economic Substance Amendment Regulations 2026 (together, the “2026 Amendments”) came into force, enacting changes to the Economic Substance Act 2018 (“ES Act”) and Economic Substance Regulations 2018.

Jane Walker, Larissa Dziubenko

Digital asset developments and Bermuda’s regulatory readiness

While frightening to some, “finance bros” and “tech bros” are now wearing the same gilets as traditional finance products and structures are being infused with digital asset adaptation.

George McCallum

Lexology Panoramic: Private Client 2026 – Bermuda

Claire van Overdijk KC, Mike Goulborn