Clarence Terceira

  • Home
  • Clarence Terceira

How to get around Bermuda’s 60:40 rule without breaking sweat

The farcical nature of the Bermuda law that is supposed to restrict foreign ownership of local companies to 40 per cent was exposed this month in a transaction regarding Bermuda Commercial Bank.On June 15, 2001, BCB announced that Netherlands Antilles-registered First Curacao International Bank N. V. had increased its shareholding from 33.74 per cent to 48.08 per cent of common shares.