Bermuda is an Offshore financial centre, which results from its low direct taxation on personal or corporate income. The local tax system is based upon import duties, payroll taxes and consumption taxes. The legal system is derived from that of the United Kingdom, with recourse to English courts of final appeal. As the offshore domicile of many foreign companies, Bermuda has a highly-developed international business economy; it is a financial exporter of financial services...     m o r e . .