We’re a ‘virtual’ specialist jurisdiction

Lets go back to June 14th 2007 when Finance Minister Paula Cox defended Bermuda against US anti tax-shelter legislation in a visit to Capitol Hill in Washington:

“Bermuda always relishes the opportunity to state its case and—our footprint is that we offer real services on the ground. (We are) not a brass plate jurisdiction.

Today’s paper:

Although it has 5,500 employees in 19 countries, in the near-term Invesco is likely to have only a ‘virtual’ presence on the Island, without an office or employees.

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Winky
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Winky

Exactly. Invesco is an inversion of the type that attracts considerable negative attention to Bermuda by onshore regulators.

Sal
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E-rat blind em with bullshit election hype ,showing off two black directors.
smoke n mirrors ,just as his latest lie,”a five-star St. Regis hotel would be announced for the former Club Med site”.
I was told by someone in management in that firm, Bermuda is not even on the radar screen, not with a BIU dominated gov’t,no way.That makes 9 years of lies about the Club Med site!