The Bermuda International Business Association (BIBA) is to step up its international public relations campaign in an attempt to scotch the growing myths from abroad that the island is merely a tax haven for foreign firms.
“Our view now is that we need to stand up and say Bermuda and other jurisdictions it competes against, are playing a vital role in the international business community and we should be proud of what we are doing,” announced BIBA Chairman Greg Haycock at the organisation’s recent annual general meeting luncheon.
Mr Haycock noted that this is especially so given recent tax changes in the United States, and the negative publicity attached to firms moving offshore.
“We have media briefing tours and we try to educate the press about what it is that’s offshore”, explained My Haycock.
“We are now expanding this to include service providers in the main jurisdictions we acquire business in, particularly New York, London and Boston. We will remind these service providers of the advantages of coming to Bermuda and continue to attract them to Bermuda,” he added.
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