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Bermuda: a tax and tourist haven

Bermuda (Bermuda Islands) is a British overseas territory located in the North Atlantic. The archipelago is located about 1,000 km east of the coast of the United States of America. The territory consists of over 130 islands and islets, and is formed by two municipalities: Hamilton – the capital – and St. George. The population of the islands is a black majority (more than 50% of the total), but there is also a large colony of white (over 30%), the rest of the population is of mixed race or Asian origin.

The islands were formed by volcanic rocks and coral formations. The appearance of the land is flat or low rolling hills that reach a maximum height of 76 meters with the Town Hill. The largest island is the island of Great Bermuda, which alone occupies about 75% of the total area of the archipelago. The islands were discovered – probably in 1505 – by the Spanish navigator Juan de Bermúdez and from him took the name.

In Bermuda are fairly developed fruit growing and horticulture: are produced mainly bananas, vegetables, essences, bulbs and flowers. Bermuda has two American air and naval bases. The islands due to the favorable tax conditions, have become a major financial center, home to several banks and industrial companies.

Tourism is another very important and growing activity and is now the second largest source of income in the country after the financial assets. The islands are destinations for beach holidays but also turn out to be a favorite destination for the celebration of weddings of wealthy Americans. Bermuda is a popular tourist destination thanks to the landscape and the mild and sunny climate.

The islands have beautiful white sand beaches and clear blue sea. There are also several historical attractions such as the historic town of St. George – the first permanent settlement of the archipelago founded by the British in 1612 – that UNESCO has listed as a world heritage site in 2000.

  • Area: 53,5 sqkm.
  • Population: 66,100 (2007 data). (Black 54%, White 34%, mixed 6%)
  • State Capital: Hamilton.
  • Languages: English and Creole-English.
  • Religion: Protestant 85% (Anglican 23%, African Methodist 11%), Roman Catholic 15%.
  • Currency: Bermuda Dollars (BMD)
  • Time: UTC -3 hours (Summer (DST) -4 hours).

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