Bermuda Crypto Currency License
Crypto Currency Licenses
Local legal entity
2.Proof of Residence
3.Certificate of Non-criminal Record
4.Proof of Non-bankrupt Record
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License application form
Online application form
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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 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 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.