Government of Bermuda
Hamilton, Bermuda -- The Premier and Minister of Finance, the Hon David Burt, JP, MP, will travel to Europe this week to strengthen relations with national and EU decision-makers and advance Bermuda’s interests. The Premier was invited to Dublin, Ireland, to deliver a keynote speech at the European Insurance Forum.
Mr Speaker, earlier today I tabled the regulations entitled the Banks and Deposit Companies (Over-the-Limit Fees and Unauthorised Overdraft Fees) Regulations 2025. These Regulations represent an important step in ensuring that Bermuda’s financial services framework provides fair treatment for consumers, while also aligning Bermuda with global best practices in banking conduct.
Payroll Tax Amendments for 2024
The budget statement which was read on Friday, February 16th, 2024, by the Premier and Finance Minister, the Hon. David Burt, JP, MP included the following amendments to the Payroll Tax Act 1995.
New Hire Relief: 2024
The New Hire Relief of 2024 repeals and replaces the relief granted in both 2018 and 2020. The 2024 New Hire Relief is offered to:
The Ministry of Finance has published a Consultation Paper covering the Appeals Tribunal Framework for public consultation. The financial services sector together with other interested parties are invited to submit their views on the proposals set out in the Consultation Paper.
The NAMLC provides important and current information related to sanctions to assist you with Bermuda’s Sanctions Regime compliance.
Premier of Bermuda and Minister of Finance, the Hon. E. David Burt JP MP welcomed to the Island the Consul General of France in New York, Mrs. Anne-Claire Legendre, during a visit to the Cabinet Office.
She was accompanied by France’s Honorary Consul to Bermuda, Nicole Haziza (also pictured).
A wide-ranging discussion between the two included Bermuda’s relationship with the European Union and the advent and future of blockchain technology.
Mr. Speaker,
I am pleased to advise this Honourable House and the public of the Initial Coin Offering Regulations that have been published to supplement the Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018.
Pre-budget Report 2025-2026
The pre-budget report (PBR) is a document produced annually by the Government to provide the public with a better understanding of our fiscal aims and objectives, an update on our economy, a summary of the policies under consideration, and to solicit feedback.
The Ministry of Finance today reported on the 2017/18 First Quarter Fiscal Performance.
2017/18 First Quarter Fiscal Performance:
The headline numbers for the 2017/18 National Budget were: a revenue target of $1.04 billion; current expenditure of $1.11 billion, including debt service; capital expenditure of $67.5 million; and a projected deficit of $134.7 million.
Deputy Premier and Minister of Finance the Hon. E.T. Richards JP MP today advised that Standard & Poor’s (S&P) has affirmed Bermuda’s rating at A+ and maintained our outlook stable.
He said he welcomed the ratings notification on Bermuda published by S&P.