Comprehensive information and links about Bermuda

Bermuda is a British overseas territory in the North Atlantic, situated around 600 miles off the coast of the United States. It consists of around 138 islands, of total area 53.3 sq km. The largest island is where the capital, Hamilton is located. An offshore tax haven, Bermuda has a thriving economy, with a large financial sector. It was once a popular tourist destination as well. It is the most populous of the British Overseas Territories, the last remnants of the British Empire.

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Bermuda was discovered by the early 1500s, probably in 1505, although the evidence for the exact year, and the identity of the discoverer, is sketchy. It was certainly known by 1511, when Peter Martyr published his , which mentioned Bermuda. The discovery is attributed to a Spanish explorer, Juan de Bermudez. Both Spanish and Portuguese ships used the islands as a replenishment spot for fresh meat and water, but legends of spirits, now thought to have stemmed only from the callings of raucous birds, kept them from attempting any permanent settlement.

The island became permanently inhabited when the , on its way to the new colony in America, was wrecked off Bermuda in 1609 (as depicted on the territory's Coat of Arms), and left the first colonists in possession of a new territory. (William Shakespeare's play may have been influenced by William Strachey's account of this shipwreck.) The land was claimed by the British Crown and control was granted to a company in order to produce tobacco for the markets in London. The islands gained the name the Somers Isles, named after Sir George Somers, the captain of the .

Soon the colony of Virginia far surpassed Bermuda in both quality and quantity of tobacco produced. After the decline of the Somers Isle Company, life petered along until a period of boat building became prevalent on the island due to the large amounts of good juniper (, Bermuda cedar) woods that grew thickly over the whole island. The Bermuda sloop became highly regarded for its speed and manoverability. Indeed, at the end of the Battle of Trafalgar, the Bermuda sloop HMS Pickle, one of the fastest vessels in the Royal Navy, raced back to England with news of the victory and the death of Admiral Lord Nelson.

After the American Revolution, the British Royal Navy began improving the harbours and built a large dockyard on Ireland Island, in the west of the chain. Thereafter the navy used the bases as a strategic asset which later benefited the USA as well (see below).

In the early 20th century, as modern transport and communication systems developed, Bermuda became a popular destination for wealthy US, Canadian and British tourists. In addition, the tariff Smoot-Hawley Tariff Act enacted by the United States against its trading partners in 1930 cut off Bermuda's once-thriving agricultural export trade - primarily fresh vegetables to the US - spurring the overseas territory to develop its tourist industry, which is second behind international business in terms of economic importance to the island.

Bermuda had been a strategically important military base since the war of 1812, but it became particularly important during World War II, because of its central location in the north Atlantic Ocean. In 1941, the United States signed a lend-lease agreement with the United Kingdom giving the British surplus US Navy destroyers in exchange for 99-year lease rights to establish naval and air bases in Bermuda. The bases consisted of 5.8km² (2.25mi²) of land largely reclaimed from the sea. The US Naval Air Station (Kindley Air Force Base) was on St. David's Island, while the US Naval Air Station Annex was at the western end of the main island in the Great Sound.

Both bases were closed on 1 September 1995, as were British and Canadian bases on the island. Unresolved issues concerning the 1995 withdrawal of US forces - primarily related to environmental factors - delayed the formal return of the base lands to the Government of Bermuda, which finally happened in 2002.

Executive authority in Bermuda is invested in The Queen and is exercised on her behalf by the Governor. The Governor is appointed by the Queen on the advice of the British Government. Defence and Foreign Affairs remain the responsibility of the United Kingdom.

The Constitution of Bermuda came into force on June 1, 1968, amended in 1989 and 2003. The Head of Government is the Premier. A cabinet is nominated by the Premier and appointed officially by the Governor. The legislative branch consists of a bicameral parliament. The Senate is the Upper House and consists of 11 members appointed by the Governor on the advice of the Premier and the Leader of the Opposition. The House of Assembly is Lower House and the 36 members are elected to serve a 5 year term.

The current Governor Sir John Vereker, appointed on April 11, 2002. The Premier is currently Alex Scott following the election victory of the Progressive Labour Party in the July 2003 elections. The United Bermuda Party serves in Opposition.

The leadership of the Progressive Labour Party supports independence from the United Kingdom, although polls indicate that this is not supported by the population. A referendum in 1995 on independence, held by the UBP, was defeated.

Bermuda is located roughly 580 miles (933 kilometers) off the coast of North Carolina, U.S.A., in the North Atlantic Ocean. (See map.) There are two incorporated municipalities in Bermuda; the City of Hamilton, and the Town of St George. There are also a number of localities which are sometimes termed villages, among them Flatts Village, Tucker's Town and Somerset. Contrary to common misperception, Bermuda is not located within the tropics. The subtropical climate is obviously influenced by trade winds as any island geography would entail. Winter evenings can get decidely cool, however summer days are rarely very hot.

Bermuda, as an offshore tax haven, has a highly developed economy focused on international business and tourism. Its per capita income is approximately equivalent to the United States. CIA data shows a GDP of $2.33 billion in 2003, per capita, $36,000.

Bermuda is regarded as a premier offshore business jurisdiction, with no direct taxes on personal or corporate income. The local tax system is based upon payroll and consumption taxes. Many leading international insurance companies are based in Bermuda. Bermuda is a financial exporter both in insurance and other financial services.

Tourism is the second largest industry, with the island attracting most of its visitors from the United States, Canada and the United Kingdom.

The currency used is the Bermuda dollar which is pegged to the US dollar.

Demographics

More than half of the population is black and less than a third is white. A significant segment of the population is of Portuguese heritage, having emigrated from the Azores over the past century.

Miscellaneous topics

Bermuda is one of the three vertices bordering the Bermuda Triangle, an allegedly paranormal region of the Atlantic Ocean.

As a sidenote, most famous people live on Tucker's Peninsula, part of Tucker's Town, an exclusive residential neighbourhood. Michael Bloomberg, Silvio Berlusconi, and Ross Perot are among homeowners there.

Bermuda End-to-End - An annual community event that attracts thousands to walk the entire length of BermudaEnvirotalk.org - A discussion forum focusing on environmental issues in Bermuda and around the worldAssociation of Bermuda International Companies Business group for the international business sector in Bermuda