Bermuda Company Formation
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ENGAGEMENT COSTS Year 1 incorporation Annual fees from year 2 Nominee shareholder/director Company de-registration * Includes governmment license fees, registered office for 12 months, company secretary fees for 12 months. **Excludes US$1,100 refundable deposit.
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If properly-structured, Bermuda company formation is an excellent way for entrepreneurs to conduct international, tax-exempt business. The following information will help you determine whether Bermuda company formation is the optimum corporate structure to fulfill your international business objectives:
Advantages of Bermuda Company Formation |
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If properly structured, a Bermuda Exempt Company (BEC) can legally house international profits while minimising international taxation.
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| 2. | 100% foreign ownership is permitted with Bermuda company formation. A minimum of one shareholder is required, and corporate shareholders are permitted. |
| 3. | There is a minimum issued capital requirement of just US$1 with Bermuda company formation. |
| 4. | Unlike many offshore jurisdictions, Bermuda company formation presents a good image internationally because it is an international financial and banking centre with one of the world's highest per capita incomes. |
| 5. | Following Bermuda company formation, an exempt company is not required to submit annual tax returns or audited financial statements. |
| 6. | Healy Consultants can open a corporate bank account to support Bermuda company formation. |
Disadvantages of Bermuda Company Formation |
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| 1. | Bermuda company formation procedures are more complex than many offshore jurisdictions. |
| 2. | Two directors are required for Bermuda company formation, although they need not be resident in Bermuda. Corporate directors are not permitted. |
| 3. | A company with the minimum authorised share capital of US$12,000 is required to pay an annual government license fee of US$1,680 prior to Bermuda company formation. |
| 4. | A BEC may not trade within Bermuda, or own real estate there. In addition, it is not permitted to engage in banking, insurance, assurance, reinsurance, fund management, collective investment schemes, giving investment advice.
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| 5. | Bermuda agrees to cooperate with the Organisation for Economic Cooperation and Development (OECD) and share information on bank account holders at Bermudan banks with account-holders' governments.
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| Other Information | |
| Refer to the following links to read more information on Bermuda Company formation: | |
| Contact Us | |
| For more information on Bermuda Company formation, please email email@healyconsultants.com or telephone us at (+65) 6735 0120 | |
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