top of page

Bermuda

Legal form:

LLC, LLP, PCC, LLCP

Delivery:

2 weeks

Price: $

3000

Payment methods:

payment methods.webp

Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Bermuda

Email

Phone

Listing
Open website
UK comapny formation (1).webp

About

Bermuda

Capital
Official languages
Population 
Currency

ISO 4217

Hamilton

English

61,370

Bermudian Dollar

BMD

FAQ

Q: What types of companies can be formed in Bermuda?

A: The most common types of companies that can be formed in Bermuda are exempted companies, which are typically used for international business purposes, and local companies, which are used for domestic business purposes.


Q: What are the requirements for registering a company in Bermuda?

A: The requirements for registering a company in Bermuda include a minimum of one shareholder and one director, a registered office address in Bermuda, and payment of the relevant registration fees.


Q: How long does it take to register a company in Bermuda?

A: The registration process for a company in Bermuda can take approximately 3-5 business days.


Q: What are the documents required to register a company in Bermuda?

A: The documents required include the company's Memorandum and Articles of Association, details of the company's directors and shareholders, a registered office address, and payment of the relevant registration fees.


Q: Can foreigners own a company in Bermuda?

A: Yes, foreigners can own and operate a company in Bermuda.


Q: What are the tax implications of forming a company in Bermuda?

A: Companies in Bermuda are subject to a zero corporate tax rate, which is a major advantage for international business purposes. However, there are other taxes and fees that may apply, such as payroll tax and annual government fees.


Q: What are the ongoing compliance requirements for a company in Bermuda?

A: Companies in Bermuda are required to file annual returns, maintain accurate financial records, and comply with various reporting and disclosure requirements. There may also be industry-specific regulations and compliance requirements.


Q: Can I use my Bermuda company to do business outside of Bermuda?

A: Yes, you can use your Bermuda company to conduct business anywhere in the world, as long as you comply with the relevant laws and regulations in those jurisdictions. However, you may need to obtain additional licenses and permits to operate in certain countries.

Economy

Bermuda has a strong and stable economy, with a GDP of $5.7 billion in 2019. The country has a low unemployment rate of 4.2%, and a high per capita income of $87,000. The country is a major financial center, with a large number of international banks and insurance companies based there. The tourism industry is also a major contributor to the economy, with over 1.3 million visitors in 2019. The government has implemented a number of initiatives to promote economic growth, including tax incentives for businesses and foreign investment. The country also has a strong infrastructure, with good roads, ports, and airports. Overall, Bermuda has a strong and stable economy, with a high standard of living and a strong financial sector.

Taxation

Bermuda has a tax system that is designed to encourage foreign investment and promote economic growth. Below is an overview of the taxation system in Bermuda for both corporate and personal tax:


Corporate Taxation:


- Corporate income tax rate: 0%. Bermuda does not have a corporate income tax. Instead, companies in Bermuda are subject to payroll taxes, which are based on the salaries and wages they pay to employees.


- Payroll tax: Employers are required to pay payroll tax on the salaries and wages they pay to employees. The payroll tax rates vary depending on the industry, but generally range from 7.25% to 8.25%. 


Personal Taxation:


- Personal income tax rate: 0%. Bermuda does not have a personal income tax.


- Payroll tax: Employees are required to pay payroll tax on their salaries and wages. The payroll tax rates vary depending on the industry, but generally range from 5.5% to 10%. 


Process and Calendar for Payments:


- Payroll taxes are paid quarterly to the Bermuda Government. The due dates for these payments are:


  - April 15th

  - July 15th

  - October 15th

  - January 15th


- Employers are required to file a payroll tax return along with the payment. 


- Employees have their payroll taxes deducted from their salaries and wages by their employers. 


- There are no other taxes in Bermuda, such as value-added tax (VAT), sales tax, or capital gains tax.


It is important to note that the tax laws in Bermuda can be complex, and companies and individuals are advised to seek professional advice to ensure compliance with the tax regulations.

Company incorporation application form

Representative

Chosen company name

Main business activity

Legal address of director

Extra services

Submit ✉

Your inquiry has been submitted. Thank You!

We will contact you shortly…

PDF application form

B2B hub provides fillable PDF application forms, you can simply save the filled form and send us by email clicking here  reg@b2bhub.uk or live chat

bottom of page