Bermuda Exempt Company

An Exempt Company may not trade in Bermuda, own property there or have an office with employees in Bermuda. A Bermuda Exempt Company may not undertake the business of banking, insurance, assurance, reinsurance, fund management, investment schemes, investment advice or any other activity, which may suggest an association with the banking and insurance industries. These banking and insurance activities are prohibited unless licensed .The consent of the Minister of Finance is required only in respect of companies which plan to engage in restricted activities like banking, investment business, trust business.
Key Features of Bermuda Exempt Company

Bermuda Exempt Company	Corporate Details
General
Type of Entity	Exempt Company
Registered Office in Bermuda	Yes
Type of Law	Common Law based on English
Our time to establish a new company	One Day
Corporate Taxation	No
Shelf Companies allowed	No
Share capital or equivalent
Standard currency	Bermudan Dollar
Permitted currencies	Any
Minimum paid up	No
Directors
Minimum number	Two
Local required	Yes
Publicly accessible records	Yes
Location of meetings	Anywhere
Corporate directorship allowed	No
Members
Minimum number	One
Publicly accessible records	No
Corporate shareholder allowed	Yes
Government Register of Shareholders	Yes
Company Secretary
Required	Yes
Local or qualified	Yes
Accounts
Requirements to prepare	Yes
Audit requirements	No
Requirements to file accounts	No
Publicly accessible accounts	Yes
Other
Requirement to file annual return	No
Migration of Domicile Permitted	Yes

 Tax Treatment
A Bermuda Exempt Company is tax exempted.
Duration to set up the company
One business day.  
Advantages of Bermuda Exempt Company

• No taxes.
• Complete privacy.
• Separate legal entity.
• Control over fiduciary duties.
• Only one member required for formation.
• Easy and low cost registration.
• No minimum authorized capital.
• English is the official language.

The Valsen Advantage

• Speedy, Efficient and consistent Services.
• Relentless effort to obtain bank accounts.
• Expert advice on structuring options.
• Dedicated ongoing compliance support.