Changes to rules on Permanent Residency Certificates
The Ministry of Labour has recently issued a policy paper, ‘Securing Permanency for Long-Term Residents’, setting out various proposed changes to immigration law aimed at providing new routes to a Permanent Residency Certificate (“PRC”) for certain long-term residents (“LTRs”) and others. The Government has said this initiative supports its priority of achieving a simplified, fair, and modern framework for immigration in Bermuda, and follows changes to the rules on ‘Mixed-Status Families’ that came into force in September 2020. This article discusses how the proposals will impact the existing position under the Bermuda Immigration and Protection Act 1956 (“Act”).
What to remember when an employee leaves
Just as when a new recruit is on-boarded, there are a variety of tasks an employer needs to deal with when one of its employees leaves. Some of these are practical, “housekeeping” matters, whereas others are legal obligations or important steps needed to protect the company’s interests. This article sets out some of the key issues that employers should bear in mind.
BMA seeks more seamless marketplace with ILS process enhancements
Recent changes made by the Bermuda Monetary Authority (BMA) to improve processes specific for catastrophe and mortgage bonds, shows that the island is listening to its clients and being more adaptive in the face of growing competition, according to Brad Adderley, Partner at global law firm Appleby.
Beneficial Owners and Controllers (BOC)
The aim of BOC is to drill-down to the identification of persons who are the beneficial owners and controllers of legal persons or legal arrangements. This is required to prevent illegal activities via corporate entities or legal arrangements that can disguise identities and convert the proceeds of crime.
ILS Bermuda Executive Roundtable 2021
Despite the impacts of the Covid-19 pandemic and subsequent restrictions on travel and face-to-face meetings, Bermuda attracted a significant amount of startup capital in 2020 ahead of expected reinsurance market firming.
A digital asset future: closer than we think
Most of us at some point in our lives have participated in a rewards programme either at our favourite coffee shop or restaurant.
First published in New Law Journal, July 2021. Appleby partners Anthony William and Jared Dann and Counsel Claire Corkish join partner & head of civil fraud and asset recovery at Pinsent Masons, Alan Sheeley and Emilie Jones to discuss the key role of third-party disclosure to tackle offshore fraud.
Trust Protectors and the Exercise of Trustee Powers
The recent judgment of the Staff of Government Division in the case of Mazzoleni v Summerhill Trust Company provides an extremely helpful update for Manx law as to the role of protectors of Manx trusts as well as guidance for trustees as to the categorisation and exercise of various of their powers.
This article provides an overview of ESG, the hot topic of 2020 that is carrying on full steam through the course of 2021 so far. While ESG investing has been gaining steady pace over the course of the last half decade, the use of ESG in financing arrangements has seen a recent proliferation.
What not to forget when an employee leaves
There are many practical and ‘housekeeping’ matters that employers need to deal with when an employee’s employment comes to an end, some of which are expressly required by law. In this article we look at some of those issues which can often be overlooked.
Contributed surplus: it’s not capital!
Last week, in part one, we discussed the meaning of share premium, the various ways a company may use share premium and its importance when determining the assessable capital of a company.
Share premium: do you have it?
When the issuance of shares by a company is discussed, the first thought that comes to mind is the share capital raised by the issuance of such shares.