bermuda looks nice, page-11

We need to remember that Bermuda is probably a tax structure. In order for the tax structure to hold up it is necessary that key board meetings and key decisions are taken in Bermuda to prove that management and control is there. (Management and control principle that is key to any international tax structures).

Therefore it is not that easy just to hold meetings through lawyers representation, fax, email etc. Being involved with these type of structures I see that something rather important needs to be decided upon in Bermuda.

BR
Max