List of Banks in the Caribbean

  Bermuda (officially, the Bermuda Islands or the Somers Isles) is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about 1,030 kilometres (640 mi) to the west-northwest. It is about 1,373 km (853 mi) south of Halifax, Nova Scotia, Canada, and 1,770 km (1,100 mi) northeast of Miami, Florida. Its capital city is Hamilton.

Bermuda is the oldest and most populous remaining British overseas territory, settled by England a century before the Acts of Union created the Kingdom of Great Britain. Bermuda's first capital, St George's, was settled in 1612 and is the oldest continuously inhabited English town in the Americas.

Bermuda has an affluent economy, with finance as its largest sector followed by tourism, giving it the world's highest GDP per capita in 2005. It has a subtropical climate.

List of Banks in Bermuda

Bank Of Bermuda Ltd.
Address: 6 Front Street, Hamilton HM 11
Phone: (1-441) 295-4000
Fax: (1-441) 295-7093
 

Bermuda Comercial Bank
Address: 44 Church Street Hamilton HM 12
Phone: (1-441) 295-5678
Fax: (1-441) 295-8091

Rosebank Centre (Bank Of Butterfield)
Address: Bermudiana Road, Pembroke
Phone: (1-441) 295-0484

The Bank of N. T. Butterfield & Son Limited
Address: 65 Front Street, Hamilton HM 12
Mailing Address: P.O. Box HM 195, Hamilton HM AX
Phone: (1-441) 299-3826
Fax: (1-441) 292-4365
 

List of Swift Codes for Bank in Bermudas

Get your own Bank account with ATM card (Maestro/Mastercard debit card) for withdrawals
 

Economy of Bermuda: Since switching from the Bermudian pound in 1970, Bermuda's currency has been the Bermudian dollar, which is pegged to the US dollar. US notes and coins are used interchangeably with Bermudian notes and coins within the islands for most practical purposes; however, banks levy a small exchange rate for the purchase of US dollars with Bermudian dollars.[24] Bermudian notes carry the image of HM Queen Elizabeth II. The Bermuda Monetary Authority is the issuing authority for all banknotes and coins, as well as being responsible for the regulation of financial institutions. There is a permanent exhibition of Bermuda notes and coins at the Royal Naval Dockyard Museum.

Bermuda's per capita income is approximately 50% higher than that of the United States; according to the Bermuda Government's Economic Statistics Division, Bermuda's GDP was $5.85 billion in 2007, or $91,477 per-capita, giving Bermuda the highest GDP per capita in the world.[2]

The affordability of housing has become a prominent issue over the past few years. The CIA World Factbook lists the average cost of a house in June 2003 as $976,000,[1] while real estate agencies have claimed that this figure had risen to $1.6 million by 2006,[25] and to $1.845 million by early 2007,[26] though such high figures have been disputed.

Bermuda is an offshore financial centre, which results from its low direct taxation on personal or corporate income. The local tax system is based upon import duties, payroll taxes and consumption taxes. The legal system is derived from that of the United Kingdom, with recourse to English courts of final appeal.

As the offshore domicile of many foreign companies, Bermuda has a highly developed international business economy; it is a financial exporter of financial services, primarily insurance, reinsurance, investment funds and special purpose vehicles (SPV). Finance and international business now constitute the largest sector of Bermuda's economy. However in September 2009, it was reported that a growing number of companies were moving from Bermuda to Ireland as part of a search for "a more stable environment".[28]


HamiltonLarge numbers of leading international insurance companies are based in Bermuda making the territory one of the world's largest reinsurance centres.[29] Those internationally owned and operated businesses that are physically based in Bermuda—of which there are around four hundred—are represented by the Association of Bermuda International Companies (ABIC). In total, over 1,500 exempted or international companies are currently registered with the Registrar of Companies in Bermuda.

Thanks to its favourable tax regime and a highly reactive regulatory framework Bermuda is the domicile of choice for the implementation of insurance-related innovative solutions also known as Alternative Risk Transfer (ART). ART includes captive insurances, Finite Risk insurance and insurance securitisation such as Cat bonds.

The Bermuda Stock Exchange (BSX), established in 1971, is now the world's largest fully electronic offshore securities market, with a current market capitalisation (excluding mutual funds) in excess of US$330 billion[citation needed]. There are four hundred securities listed on the stock exchange, of which almost three hundred are offshore funds and alternative investment structures attracted by Bermuda's regulatory environment. The Exchange specialises in listing and trading of capital market instruments such as equities, debt issues, funds (including hedge fund structures) and depository receipt programmes.

The BSX is a full member of the World Federation of Exchanges and is located in an OECD member nation. It also has Approved Stock Exchange status under Australia's Foreign Investment Fund (FIF) taxation rules and Designated Investment Exchange status by the UK's Financial Services Authority.

Tourism is Bermuda's second largest industry, with the island attracting over one-half million visitors annually, of whom more than 80% are from the United States. Other significant sources of visitors are from Canada and the United Kingdom. Tourists arrive either by cruise ship or by air at Bermuda International Airport, the only airport on the island.