Improvements have been made to a partnership between the Bermuda Economic Development Corporation and law firm Cox Hallett Wilkinson Ltd aimed at providing BEDC clients with expanded and discounted legal services.

The arrangement, which began in 2017, will now include post-formation support such as regulatory filings and corporate organisation.

Erica Smith, BEDC executive director, said: “We are thrilled to enhance our partnership with Cox Hallett Wilkinson. This collaboration ensures that our clients have access to top-tier legal services at reduced costs.

“With our business register of nearly 2,500 registered businesses, our communication database of nearly 3,500, and an average of 700 clients served annually, many require legal assistance to incorporate their businesses or establish limited liability companies.

“This partnership provides them with excellent professional support, making their entrepreneurial journey smoother and more cost-effective.”

Janice Gutteridge, director and head of Corporate at CHW, added: “CHW is dedicated to supporting local businesses by providing legal guidance that ensures their new ventures are structured optimally and safeguarded.

“We are excited to work with passionate entrepreneurs and assist them in navigating the complexities of entering the local market, protecting their personal and business interests.”

Through this enhanced partnership, CHW’s Coson Corporate Services is offering discounted annual fees for providing corporate services to BEDC clients including arranging meetings, boardroom facilities, maintenance of corporate records and statutory registers, completion of Bermuda corporate filings, and assistance with bank account opening and maintenance.

The BEDC said they will also ensure compliance with beneficial ownership requirements and safekeeping of corporate documents.

In addition to the discounted fees already provided for company or LLC formations, Coson will provide discounts on the new corporate service provider fees for BEDC registered and referred clients for the first four years after LTD and LLC formations.

Start-ups and established businesses wishing to take advantage of Coson’s discounted services must first register their enterprise with the BEDC and then be referred to Coson by the BEDC.