Bermuda

Bermuda is a group of English speaking islands located in the western Atlantic Ocean approximately 800 miles from New York City. Bermuda has a well-developed modern trust law. The country has no income tax or other form of taxation for profits or capital gains. Some professional advisers have complained that the Bermuda trust companies are difficult to work with, but it is hard to say whether these are isolated incidents or whether it represents a pattern of conduct sufficient to cause one to avoid Bermuda for these types of purposes.