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Fees and timelines in 2023

Fees

Incorporation costs in Year 1 amount to US$6,800 and annual company costs in Year 2 and thereafter amount to US$4,600. The average fee per Bermuda engagement amounts to US$21,110, which includes company incorporation and opening a local corporate bank account and all Government fees.

Different Bermuda entity types	Cost	Draft invoice
Exempt company	US$21,110	View invoice PDF
Branch of a foreign company	US$23,580	View invoice PDF
Local company	US$18,980	View invoice PDF
Exempt partnership	US$18,950	View invoice PDF
Bermuda annual renewal	US$16,458	View invoice PDF

Click here to create your own Bermuda invoice

Service	Fee (US$)	Frequency
LLC Company incorporation (without travel)	9,600	One time
Bermuda corporate bank account opening (without travel)	4,950	One time
Nominee resident director services	6,600	Annually
Residence and employment visa	4,950	One time
Nominee corporate shareholder services	2,100	Annually
Nominee shareholder and director services	8,600	Annually
Year end accounting and tax fees	2,300	Annually
Payroll reporting, financial report filing	1,100	Monthly
Monthly bookkeeping service (estimate)	1,600	Monthly
Offshore corporate bank account opening	4,950	One time
Corporate merchant account approval	4,450	One time
Corporate brokerage account approval	2,950	One time
Find local office premises for your staff	4,950	One time
Business website building	2,500	One time
Phone answering service	900	Annually
Office mail service	900	Annually
Fax forwarding service	600	Annually
Business stationery design with logo	950	One time
Monthly payroll for staff	550	One time
Staff recruitment	7,950	One time
Trademark registration	4,950	One time
Find an apartment for your staff	4,950	One time
Find corporate finance	5,000	Retainer fee
Total fees (US$)	0

Other fee considerations

Timelines

The average Bermuda company registration period is 12 weeks as outlined below:

Preparing a detailed project plan;
Our Client confirms the corporate structure;
Collecting due diligence from our Client.

Our Client signs the corporate bank account opening forms;
Healy Consultants prepares a business plan;
Healy Consultants visits the bank for interview;
The Bank Legal and Compliance Department review and approve the banking application;
The Bank Front Office email corporate bank account numbers to our client.

The Bank Operations Department mails the internet username and passwords to our Client;
Some of our Clients’ request Healy Consultants to activate the internet banking on their behalf.

Healy Consultants confirms all Client due diligence is received;
Healy Consultants couriers to our Client the complete original company and bank account documents;
Our Client completes our web page feedback survey;

Contact us

For additional information on our company registration services in Bermuda, please contact our in-house country expert, Mr. Petar Chakarov, directly:

Mr. Petar Chakarov
Sales & Business Development Manager
Contact me!

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Testimonial

“Pirster Pte is happy with the work that Healy Consultants undertook for the company. International incorporation can be fraught with opacity, anxiety and vulnerability - especially if it is being done remotely as we did. Healy Consultants worked really hard to make it transparent, straight forward and confidence-inspiring. I look forward to working with Healey Consultants again on future work and happily recommend them to others.”

Fiona Thompson, Managing Director
Pirster Pte.

“We had taken Healy Consultants assistance in incorporating our entities in some of the complicated jurisdictions. Their approach right from the beginning has been very systematic, clear and efficient. It has been a pleasure to work with all of them.”

Mr. Aniket Chatterjee, Senior Manager - Operations & Compliance
Zomato Pvt. Ltd.

“Healy Consultants did an excellent job helping me navigate the legal and accounting rules and regulations to set up a company in Taiwan.”

Peter Rooks, President
Phoenics Electronics

“Thank you Healy Consultants for swiftly project managing my engagement. From the moment I met you in Singapore Healy Consultants attended to my requirements and specific needs. I am more than satisfied with your service. Moreover, your weekly updates allowed me to continue to focus my attention on my global business while trusting you to deliver as promised.”

Shakeel Alibhai,
Fervor Montreal

“Healy Consultants, a professionally managed firm with clear understanding and knowledge about what client expects from them and delivers the same in a professional and timely manner. Kudos to their team.”

Pramod Dubey, Chief Financial Officer & Company Secretary
Accutest Research Laboratories (India) Private Limited

“Incorporating any company is comparable to setting the foundation blocks of your new company building, which you aim to build in the best location available. By choosing Healy Consultants you are laying the perfect foundations.”

Steve Hauxwell, Managing Director
Natural Resource Professionals Pte Limited.

“The one word that defines Healy Consultants is perfect professionalism. If you have Healy to set up your business abroad, you could focus on the operational overhead and let Healy take care of the rest. From Incorporation to Taxation, it’s a one stop solution. Rest assured, you will have the best people in the Industry working for you and providing you with the best possible information and suggestions.”

Raja Chakraborty, Director
Streamlyn Pte. Ltd.

“Thank you Healy Consultants for successfully project managing our business set up in Kuwait, Lebanon, Qatar and Bahrain.”

Steve Louw, UK General Counsel
JLL Group

“When it was time to establish a Space Academy in Singapore, TriVector needed a knowledgeable firm that could not only help us establish our infrastructure, but could also advise on the local and regional business climate. Healy was that firm, which is why we've been satisfied Healy Consultants for almost five years now.”

Timothy F Kauffman, CEO
Trivector Services

“Finding the right partner was critical for VESL’s expansion in Asia and working with Healy Consultants has made this possible.”

Gary Webb, Managing Director
VESL

“Healy Consultants accounting and tax support is invaluable.”

Chris Vorwerg, Managing Director
WinPCS

“Healy Consultants were instrumental in the set up of our company. They have continued to provide exceptional support and advice over the years.”

Susan Gunnery, Managing Director
Qudoss Group

“Healy Consultants is the best firm that we have ever worked with. Through our entire business relationship we were satisfied with provided level of quality and services. Healy Consultants have been responsive and detail oriented which has allowed us to stay focused on our business and not getting distracted with small details.”

Nikolay Evdokimov, Director
Appintop Echange Pte Ltd

“Not only did Healy Consultants have expert knowledge of local requirements, they also understood my needs as a foreigner, which is something lacking with the Singaporean consulting firms I spoke to. They drove the process from start to completion. I’m more than satisfied with the service.”

Michael Scholten, Managing Director
Digital Enterprise Solutions Singapore Pte. Ltd.

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