Which island is the tax haven?

The tax haven is Bermuda.

Bermuda has become one of the world's largest offshore financial and commercial centers. Since 1999, the number of employees has remained at more than 3,200. The insurance industry is quite developed, accounting for about 1/3 of the world's accident insurance reinsurance volume. In 1996, insurance business income reached 19.8 billion Bermudian dollars.

The company registration industry has strong development momentum. In 2000, the growth rate was as high as 9.5%. Most of them are insurance companies, followed by trading companies, shipping groups, and personal investment companies. Together with the Cayman Islands and the BVI Islands, it is known as one of the three offshore tax havens.

Bermuda’s economy:

Bermuda relies on imports for almost all goods. 75% of imported products come from the United States of America. The main trading partners are the United States of America, the United Kingdom, Italy and Canada. Foreign trade has generated huge amounts of revenue over the years. The main imported products are machinery and transportation tools, food, beverages, manufactured products and fuel. Exports are mainly the re-export of pharmaceuticals, and the main local export products are cosmetics and flowers.