The BDA is an independent, public-private partnership funded by both the Bermuda government and the private sector. Established in April 2013, the agency is led by a chief executive officer and governed by a Board of Directors comprising senior industry professionals representing the diversity of Bermuda’s financial services sector.
The BDA works closely with Bermuda’s public and private sectors to help empower the economy and enhance the island’s global reputation. Our overall mission is to retain and create jobs, promote inward investment, and grow Bermuda’s GDP through targeted business development initiatives.
HOW WE OPERATE
The BDA acts as a partner for existing Bermuda-based companies, and assists entities that are considering establishing operations in the domicile. We connect prospective companies with industry partners and relevant representatives in the Bermuda Monetary Authority (BMA) and the Bermuda government’s Business Development Unit, making formal introductions, trouble-shooting and following up with clients to simplify the process.
OUR SIX PILLARS
The BDA has segmented our business development efforts into six distinct pillars, or industry areas of focus: Risk (insurance, reinsurance, captives, insurtech); Asset Management (funds, insurance-linked securities); High-Net-Worth Services (superyachts, aviation, trusts; family offices); Emerging Technologies (fintech, digital assets business, cryptocurrencies); Economic Diversification; and Investment (infrastructure, including hospitality). These are key sectors of the Bermuda marketplace, or areas for potential growth, and the BDA has separate business development managers, strategies and goals for each.
OUR INDUSTRY FOCUS GROUPS
We leverage the expertise of invited focus groups comprising leading industry professionals. Through regular discussions and strategy sessions, these groups cultivate innovation and explore potential business opportunities for the island. For example, our Legal Focus Group and Legislative Change Committees are instrumental in ensuring Bermuda maintains a competitive legal and regulatory environment. Our focus group members also join BDA-led webcasts, webinars, overseas roadshows and other jurisdictional initiatives.
OUR CONCIERGE SERVICE
Our Concierge Service provides a one-stop-shop for businesses considering relocating or starting up operations in Bermuda. The BDA Concierge team is the primary point of contact to connect clients with industry professionals, government and regulatory officials, and service providers such as realtors, law firms, auditors and relocation experts. Our goal is to help get your business off the ground quickly and make doing business in Bermuda beneficial and straightforward.
BDA Abroad is our alumni group for overseas Bermudians and former Bermuda residents, or others with a corporate connection. This LinkedIn members-only group allows invitees to stay connected to the island’s business community by networking with industry professionals familiar with the market. Our ambassadors help spread the word about our world-class jurisdiction. They receive Bermuda news and invitations to events, and can join online discussions. To join BDA Abroad, go to this page and click Join.