Company registration in Bermuda

Bermuda is known for having one of the highest GDP indicators. For the most part, this is due to the fact that Bermuda is offshore, which allows investors to minimize the costs associated with paying tax duties and obtain a high level of confidentiality of data on activities and income.

Foreign investors strive to become the owners of a Bermuda company also because the legislative framework of the islands in every possible way promotes any commercial activity.

The establishment of a business in Bermuda is governed by the Company Act of 1981. In addition, the Law on the Taxation of Exempt Firms and Regulations on Partnership will be relevant for foreign capital owners.

Jurisdiction

Mostly, in Bermuda, companies are created by those entrepreneurs who plan to work in the insurance sector or in the field of financial services (which involves obtaining a special permit). But, local legislation does not provide for any restrictions on the types of activities. Thus, foreign investors are allowed to choose any direction for themselves.

The most convenient and affordable form of business is E.L.L.C. – an exempt organization. Such a company is similar to an LLC. Its main advantage is complete exemption from paying any tax duties.

The creation of an organization in Bermuda is associated with the following benefits and advantages:

• not a long registration period;
• the shareholder should not be present in person – it is allowed to carry out the procedure remotely;
• the process has a clear regulation;
• there are no requirements regarding the payment of the Criminal Code in full. In fact, only one dollar is allowed;
• founders are given the right to hire nominee directors or shareholders;
• there is no need to publicly disclose information about the company;
• it is not necessary to submit annual reports on a mandatory basis.

In addition, the legislature is not required to disclose information regarding the beneficiaries of the organization. This is done in order to ensure the maximum level of confidentiality. Such information can only be disclosed in accordance with a court decision.

If you need to register a company in Bermuda, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Bermuda. Write to us in the CRM form and we will help you register a company.

Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.

We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.

If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.