Bermuda is a British Overseas Territory located on the Bermuda archipelago in the North Atlantic Ocean and to the east of the United States. It is under the sovereignty of the United Kingdom (responsible for defence and foreign relations. The capital of Bermuda is Hamilton. Bermuda is home to over 70, 000 people while its official language is English. The official currency is the Bermudian dollar – BMD (which is equal to the American dollar).

Bermuda has one of the world’s highest GDP per capita with tourism and insurance sectors its largest economic sectors.

The government of Bermuda is parliamentary representative democratic dependency under the constitutional monarchy. The Constitution of Bermuda provides for the internal self-government of the state. At the same time, the Queen of the United Kingdom appoints the governor whose power includes issues of defence, foreign policy, and police matters. The authority responsible for company registration and incorporation in Bermuda is the Registrar of Companies. The legislative framework is the Companies Act 1981.

WHY REGISTER COMPANY IN BERMUDA?

• Economically and politically stable jurisdiction;
• No minimum share capital requirement;
• Favourable taxation regime – Tax exemption;
• Double taxation treaties signed with 41 countries;
• Confidentiality of the company officers and beneficiaries;
• Nominee service is allowed;
• Transferability of Shares

REGISTRATION OF COMPANY: COMPANY TYPES

• Company Limited by Shares
• Company Limited by Guarantee
• Unlimited Liability Company
• Limited Duration Company

REGISTERING A COMPANY IN BERMUDA

Step 1. Law and Trust works with the client to get the company’s name and activity approval from the Registrar of Companies;
Step 2. GFSC Global works with the client to secure the Memorandum of Association (MOA);
Step 3. GFSC Global collects, prepares and files the necessary incorporation documents on behalf of the client to the relevant authorities for approval;
Step 4. GFSC Globalworks with the client to open a corporate bank account in Bermuda;
Step 5. GFSC Globaldeliver the certificate of incorporation personally to the client or via courier service.