Its incorporation is in Bermuda, its head office is in Houston.
The Swiss will not tax Transocean on their earnings outside Switerland..so they will enjoy a much lower overall tax rate than in the US. Since a vast majortiy of their contracts are not in the US or Switzerland and they also don’t want most of their rigs registered in the US..this is a great move. I have been invested in RIG for a long time, but when the oil market went down..I bailed and will invest in them again. They were a great customer when I worked and a great investment.