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Bermuda

Bermuda Flag

Country: Bermuda
Region: Atlantic
Currency: Bermudian Dollar (BMD) (BD$)
Languages: English
Time Zone: UTC -4

Phone Code: +1441

Communications: Very Good

Formation Cost: 6000 - 12000 USD$
Formation Time: 12 - 20 days
Maintenance cost: 1500 - 4500 USD$

Executive Summary: Bermuda is seen as a reputable international finance centre with three of its own widely-branched banks. Financial services account for a significant majority of GNP, though tourism is also important. The Bermuda Stock Exchange trades electronically and provides global access to its settlement systems. Bermuda has particularly strong insurance, investment fund and trusts sectors, with very well-developed advisory and financial infrastructure, but it is an extremely expensive jurisdiction in almost all ways, and like some of its rivals has preferential employment laws which make it difficult and costly to employ expats . The housing market is ludicrous. Bermuda’s captive insurance sector is the world's largest. There is a sophisticated professional infrastructure including the major international law and accounting firms. E-commerce is well developed. There is no income tax, capital gains tax, VAT, sales tax or wealth tax. But if you plan to go there, make sure you have nice-looking knees.

Suitable for: Wealth Management, Insurance, Fund Management, Shipping, Yachting, Intellectual Property/Licensing, E-commerce
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited companies, public limited companies, segregated accounts companies, trusts, general partnerships, limited partnerships and branches

Capital primary business districts: Hamilton, St. George's

Good Relationships: Bahamas, Bahrain, Barbados, Belize, Canada, Cayman Islands, China, Dominica, India, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Very Light

Tax Burden - Individual: Very Light

Headline tax rates: CIT 0%, PIT 0%, VAT 0%

Treaty Jurisdictions: Bahrain

TIEA Jurisdictions: Argentina, Aruba, Australia, Belgium, Brazil, Canada, China, Curacao, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greece, Greenland, Guernsey, Iceland, India, Indonesia, Ireland, Italy, Japan, Korea, Republic of, Malaysia, Malta, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Singapore, Sint Maarten, South Africa, Sweden, Turkey, United Kingdom

Information Links:

 

 

 

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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