Bermuda Family Office Guide

Bermuda has long been known as a place for wealthy individuals and families to vacation and to do business.  The island has a reputation as a place of security and private banking that makes it a good match for family offices.  Bermuda has one of the highest per capita incomes in world and family offices are spread across the island to serve the high-net-worth families and individuals.

The following free guide to Bermuda Family Offices will help you better understand Bermuda family offices and provide you with resources to learn more about Bermuda .  You should also check out our 100% free book on family offices.

Introduction to Bermuda

Bermuda is an island located off the coast of the United States.  The island is a British overseas territory and is very popular as a tourist destination and also as an offshore destination for the wealthy and many financial businesses.  Bermuda’s economy is largely reliant on international business and tourism (the two industries combine to constitute 74% of the total balance of payments current account receipts of foreign exchange).  To give you a better sense of the economic situation in Bermuda, here is a State Department summary:

In 2010, 15,078 international companies were registered in Bermuda, many U.S.-owned. They are an important source of foreign exchange for the island, and spent an estimated $2 billion in Bermuda in 2009. The importance of international business is reflected in its share of GDP. This sector provided $1.5 billion in total output (current market prices), representing 26.1% of total GDP, or a 3.7% decrease compared to 2008. International business is no longer the island’s largest employer, with 4,293 jobs in 2009, down from 4,761 in 2008. Provisional estimates for 2009 state that there were 4,758 jobs in wholesale and retail and repair services and 4,680 jobs in hotels and restaurants.

So you can see that Bermuda is heavily reliant on international businesses and does well to accommodate international businesses.  This has brought a great amount of wealth to Bermuda and established it as a strong family office destination.

Why Bermuda?

Bermuda has one of the world’s highest per capita incomes and is a hugely popular destination for international businesses.  The territory serves as a financial center, and despite its reputation among some as a place of little-to-no regulation, it actually has a fairly robust regulatory system led by the The Bermuda Monetary Authority.  The fact that Bermuda has a well established financial system and very low taxes makes the territory a logical fit for wealthy families and high-net-worth individuals.

Many family offices have decided to set up their offices in Bermuda as an offshore solution for wealthy families.  The low taxes on businesses allow family offices to operate outside of the high tax environments in the UK and the United States.

Family Offices in Bermuda

Bermuda has long been a popular destination for wealth management firms and private banks that service the wealthy.  So, it is not surprising that Bermuda serves as a prominent family office location.  The country is also popular with hedge funds and financial professionals.   The territory hosts many events frequented by hedge funds, investment advisors and family offices such as the MARHedge Conference and others.

In 2009, Bermuda changed its laws in an attempt to attract more family offices and high-net-worth individuals to the island.  According to a report from the time, “The Bermuda Parliament passed the Perpetuities and Accumulations Act 2009, which abolishes the rule against perpetuities for Bermuda law trusts, which requires interests in property to vest within a certain period and which effectively, imposes a maximum life span on trusts.”  This is good news for the growing number of family offices seeking to set up in Bermuda and will undoubtedly lead to Bermuda becoming an even more competitive destination for family offices.

Bermuda Family Office Resources Guide

Bermuda Family Office Resource #1: Here is the aforementioned article on Bermuda’s recent law making it more attractive to wealthy families, family offices and high-net-worth individuals.

Bermuda Family Office Resource #2: I came across a PowerPoint that explains the advantages of doing business in Bermuda including a portion that focuses on family wealth management in Bermuda.

Bermuda Family Office Resource #3:  If you are looking for contact details of family offices places such as Bermuda you may want to consider using a Family Offices Database.  A Family Office Database provides you with the complete contact details for 100’s or sometimes even up to 1,000 global single and multi-family offices within an easy to use Excel spreadsheet format.  Learn more about this by clicking here.

Bermuda Family Office Resource #4: This story covers the acquisition of a Bermuda-based fund administrator, Butterfield Fulcrum that specializes in family offices.  The acquisition led to a merger of Butterfield Fulcrum and FORS Limited that is headquartered in Bermuda.

Are you an employee or manager of a family office in Bermuda?  Then we’d like to keep in touch with you.  Simply send us an email at

Be sure to check out for our family office database and our free book on family offices.

Related Resources

Tags: Bermuda Family office, Bermuda Family offices,  Bermuda family offices guide, guide to Bermuda family offices, family offices in Bermuda , Bermuda finance, Bermuda wealth management

Leave a Reply

Your email address will not be published.

305-503-9050 | Terms & Conditions | Privacy Policy | FAQ | Sitemap (xml)
11445 E Via Linda, Suite 2-623 | Scottsdale, AZ 85259