Bermuda
NEWS
FACT FILE
Location North Atlantic ocean, 774 miles south east of New York.
Time Zone Greenwich Mean Time - 4.
Population 64,268 (2010 census).
Capital Hamilton.
Airport LF Wade Internation Airport (St George's Parish).
Language English.
Currency Bermuda dollars (on par with US$ dollars).
Dialing Code +1 441.
Centre's Expertise Financial Services, investment funds, insurance and reinsurance.
Political System Self governing British overseas territory.
Legal System Based on English common law.
Personal Income Tax None for non-residents.
Corporate Income Tax Bermuda has a payroll tax for residents, but no corporate or income tax.
Exchange Restrictions None, if designated as a non-resident. Consent required for certain issues and transfers of securities
Tax Treaties For full details, please go to www.ifcreview.com/TIEA
Permitted Currencies Any such currency as the company thinks expedient.
Minimum Authorised Capital None.
Minimum Share Issues One.
Shelf Companies No.
Incorporation Time Scale One-five working days.
Incorporation Fees Approximately $6,000 based on share capital (exclusive of disbursements) inclusive of incorporation fees and the first year's government, registered agent and secretarial fees.
Annual Fees Starting from $1,995 based on share capital.
Minimum Number One.
Residency Requirements No.
Corporate Directors Yes.
Meetings/Frequency No statutory requirement.
Disclosure Yes, save in the case of mutual fund companies.
Bearer Shares No.
Minimum Number One.
Public Share Registry Registry of shareholders to be kept at company's registered office and available for inspection by the public during business hours.
Meetings Frequency AGM once a year unless this requirement is waived.
Annual Return Yes.
Audit Requirements Yes, unless waived by all the shareholders and all of the directors.
Registered Office Yes.
Domicile Issues Re-domiciliation permitted.
Company Naming Restrictions Yes, cannot contain the following : ‘chamber of commerce’, ‘municipal’, ‘chartered’, ‘co-operative’,‘building society’ must contain: 'limited' or 'ltd' (except for unlimited company).
ARTICLES
The Bermuda Stock Exchange: Strong, Stable and Thriving
  Following the modernization of its regulatory and operational infrastructure in 1993, the BSX has emerged as a leading niche focussed exchange supporting the listing and trading of a variety of capital market instruments. (19/09/2017)
Bermuda Stock Exchange – anchoring the world’s risk capital
  Established in 1971, the Bermuda Stock Exchange (BSX) has become the world’s leading, fully electronic, offshore securities market. (29/08/2017)
Succession Tips and Traps
  How families prepare for the transfer of wealth to the next generation impacts whether family wealth will last beyond a single generation. (29/08/2017)
Trump to the Left Of Us, Brexit to the Right: Stuck in the Middle With You
  2017 is likely to be a critical year for Bermuda, with a general election fast approaching, a significant national debt, and heated political exchanges on issues ranging from same sex marriage rights to private finance initiatives. (29/08/2017)
Trump to the Left Of Us, Brexit to the Right: Stuck in the Middle With You
  In global geo-political terms, and by comparison with recent political events in the United States and the United Kingdom, 2016 was a year which illustrated the benefits of a jurisdiction such as Bermuda.. (01/08/2017)
Bermuda Stock Exchange – anchoring the world’s risk capital
  Established in 1971, the Bermuda Stock Exchange (BSX) has become the world’s leading, fully electronic, offshore securities market. Bermuda (01/03/2017)
Bermuda’s Competitive Insurance Advantage
  Chris Garrod examines how recent developments within Bermuda's (Re)insurance sector have given the jurisdiction a competitive advantage over their rivals. (01/07/2016)
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FURTHER BACKGROUND INFORMATION
  Bermuda Tax Treaties
  Bermuda currently has 40 agreements in place comprising of 4 Double Tax Treaties and 36 Tax Information Exchange Agreements. - read more...
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