The UK is to play host to some of Bermuda's leading financial experts in a bid to attract investment and business to the island. The Bermuda Stock Exchange (BSX), law firm Appleby Spurling & Kempe, investment bankers Voyager Financial Services Ltd, and telecommunications provider TeleBermuda International Ltd will present half-day seminars on November 27 at the Hilton Hotel, Dublin, and November 29 at the Knightsbridge Hilton London.
At the seminars particular attention will be focused on e-commerce. William Woods, Chief Executive Officer of securities market BSX, explained: 'We want to reach the mind and management behind e-com, high-tech and bio-tech start-ups. We want to attract those businesses with a solid business plan that want to expand globally.'
Last year the BSX began vigorously marketing a restricted Mezzanine Market for "qualified investor" capital, which allows for start-up companies and specialist securities to list without the need for a full Initial Public Offering (IPO). This gives developing e-commerce and high-tech companies the opportunity to list on an established and reputable international stock exchange at a much earlier stage than is currently possible in any other jurisdiction. Thus it's an ideal incubator for when the IPO does take place.
Voyager Financial Services, a member firm of the BSX, offers full listing sponsorship services to issuers seeking a primary or secondary listing on the BSX. Paul Lemmon, Managing Director of Voyager, said: 'The Mezzanine Market is ideal for emerging companies wishing to either establish a secondary exchange listing for their securities or undertake private placement fund raising contemporaneous with a listing on the BSX. This affords emerging companies initial access to the public capital markets that is more efficient and cost effective than if undertaken on shore.'
Appleby Spurling & Kempe (AS&K) is not only Bermuda's largest law firm but is also the jurisdiction's first legal outfit to provide an Internet site for the online incorporation of offshore companies which enables clients to enter the incorporation process from anywhere in the world. Warren Cabral of AS&K commented: 'As a firm, we not only provide legal services to "new technology" firms, we have embraced the technology ourselves.'
He added: 'Providing this new method of incorporating a Bermuda exempted company is a perfect example of the important role that technology will play in the development of business for Bermuda. AS&K has embraced this new technology, and in so doing we have provided our clients with a secure, efficient, convenient way of incorporating a Bermuda exempted company.'
TeleBermuda International Ltd (TBI) provides long-distance, voice and data telecommunications and international private leased circuits via a high capacity fibre optic cable system. The company's one billion dollar undersea cable project, 360americas, will carry voice, video and data traffic between the US eastern seaboard, Brazil and Venezuela via Bermuda. TBI's General Manager James Fitzgerald stated: 'We are working to make Bermuda the hub of international e-commerce and telecommunications services.'
Summarising the "Bermuda Advantage", Warren Cabral said: 'Bermuda offers the regulatory, legal and business environments necessary for such companies to thrive and prosper. The island has a full range of intellectual property legislation, providing protection for patent, trademark and copyright owners. Bermuda is at the forefront of the Internet revolution, having introduced legislation last year - the Electronic Transactions Act 1999 - that gives legal substance to electronic data and transactions negotiated over the Internet. The island's government also features the world's first Ministry of E-Commerce. Bermuda does not levy taxes on income, profits or capital gains.'
Those interested in the half-day seminars can visit the tour’s website at www.b2bermuda.com.
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