“Other Offshore Centers Will Follow Suit”: Cheryl Reicin on Bermuda’s Budding Cannabis Industry

In an article on Bermuda’s lift of its regulatory ban on marijuana investment funds, partner Cheryl Reicin spoke with Marijuana Business Daily on the global shift in the view of cannabis and its implications for intellectual property.

The article discusses how Bermuda is looking at the medical marijuana industry through investment funds and cultivation, as a way to give its economy a boost.

Cheryl told Marijuana Business Daily that Bermuda’s fledgling industry opened the door to more funding options for cannabis-related companies.

“The trend here is the world is seeing this as a legal industry, and (there’s) a willingness to differentiate between the illegal cannabis industry and the legal cannabis industry,” Cheryl said.

“It allows for more funds to be set up in a more tax-efficient way.”

Cheryl said expected many offshore centres to follow Bermuda’s example and predicts intellectual property to become increasingly important for cannabis companies as they seek differentiation.

“As the cannabis industry becomes more global, more companies will need to consider their tax structure in order to remain competitive,” she said.

Cheryl and the rest of our cannabis team have provided further insight on the emerging Canadian and global industries on the relevant practice page.