What the 60/40 rule means
Created: Jul 11, 2000 11:00 AM
company must be owned by a 60 percent majority of Bermudians or Bermudian companies. The other 40 percent can be owned by people or institutions from off the Island. Conversely international companies have a 80/20 rule. This states that Bermudians can only own 20 percent of companies registered as exempt or international. The 60/40 ownership rule is listed in section 114 of the Companies Act.