06 June 2019

A guide to family office services in Bermuda

Bermuda continues to be a preferred jurisdiction in which to establish and maintain family offices. Bermuda’s regulatory regime carefully balances privacy with the objective of ensuring appropriate regulation is in place to maintain its stellar reputation as a premier international financial service centre.

The following qualities all contribute to Bermuda being an attractive jurisdiction from which to base a family office:

  • a high quality, common law legal system based upon, but independent from, that of England and Wales, supplemented by Bermuda statutes and judicial decisions. Bermuda’s final court of appeal is the Judicial Committee of the Privy Council in London;
  • a pragmatic and respected regulatory environment;
  • direct flights to and from New York, London, Toronto, Miami and other major centres. When travelling to the United States (US), travellers clear US immigration and customs in Bermuda;
  • in appropriate cases English Queen’s Counsel can be granted rights of audience before the Bermuda courts;
  • the presence in the jurisdiction of the ‘Big Four’ accountancy practices;
  • a range of high quality licenced trustees including those with an international affiliation;
  • political stability, safety and quality of schools, hotels, conference centres, restaurants and infrastructure.

Carey Olsen has strong private wealth, corporate and finance legal teams with particular expertise in working with single and multi-family offices and their advisers. We understand that each family office is unique and we develop close relationships with our clients in order to understand their specific needs and requirements. We provide a discreet, personal service and are seen as trusted advisers with a deep understanding of the complexity surrounding the legal, business and personal aspects of running a family office.  Our lawyers advise on all aspects of the structures that are administered by family offices. We can also assist in the preparation of family constitutions and other governance documentation to encourage consensus and limit disputes about how wealth is managed in the longer term. We regularly advise family offices on matters such as:

  • Family office structuring and management
  • Trust structuring and estate planning
  • Corporate governance
  • Investment funds
  • Debt finance
  • Aircraft and yacht registrations
  • Charities and philanthropy
  • Relocation services and immigration

For a full overview to our family office services, please download our guide.

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