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
Tax Treatment
A Bermuda Exempt Company is tax exempted.
Duration to set up the company
One business day.
Advantages of Bermuda Exempt Company
|
Bermuda Exempt Company |
Corporate Details |
|
General |
|
|
Exempt Company |
|
Yes |
|
Common Law based on English |
|
One Day |
|
No |
|
No |
|
Share capital or equivalent |
|
|
Bermudan Dollar |
|
Any |
|
No |
|
Directors |
|
|
Two |
|
Yes |
|
Yes |
|
Anywhere |
|
No |
|
Members |
|
|
One |
|
No |
|
Yes |
|
Yes |
|
Company Secretary |
|
|
Yes |
|
Yes |
|
Accounts |
|
|
Yes |
|
No |
|
No |
|
Yes |
|
Other |
|
|
No |
|
Yes |
- 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.
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.