set up a company in bermuda incorporation

Incorporate in Bermuda

$9,200.00

Set up a Bermuda Exempted Company / Limited Liability Company (LLC)

Bermuda is a British Overseas territory and an international financial and banking hub that does not apply taxes on profits, income or dividends, capital gains nor personal income. Non-resident investors may buy or sell shares and units of investment funds without being subject to taxation.

An Exempted company incorporated in Bermuda is entitled to do business outside Bermuda and shall not trade within the jurisdiction, own properties in Bermuda, and may require a license to undertake banking, insurance, assurance, reinsurance, fund management, collective investment schemes, rendering investment advice or any other activity which may suggest an association with the banking and insurance industries.

Under the Exempt Undertakings Act of 1976, Exempted Companies can obtain protection from any newly enacted taxes on income or capital gains until 2035.

Many Fortune 500 companies have set up a Bermuda exempted company for purposes such as holding company, holding assets, trading, manufacturing, inter-group financing, shipping, aircraft leasing and holding of intellectual property rights, among others.

Learn more about incorporating a company in Bermuda:

In Bermuda, the two most common corporate structures are the Exempted Company, incorporated under the Bermuda Companies Act 1981 (Part X), and the Exempted Limited Liability Company (Exempted LLC), registered under the Bermuda Limited Liability Company Act 2016 (Part 3).

Bermuda Company (Exempted Company/Exempted LLC) Formation – USD 9,200.00 (All Included)

Note that our incorporation and annual corporate service fees are “all-included fees”, and cover all the required services to incorporate a Bermuda Company, and keep it in good standing, as well as government fees and duties, and disbursements.

Exempted Company 

  • All applicable Registration and Government Fees and Duties (Registrar of Companies, Bermuda Monetary Authority)
  • Preparing Memorandum of Association and Bylaws and filing the Memorandum with the Registrar
  • Acting as Subscriber and executing the Memorandum of Association
  • Providing the Certificate of Incorporation issued by the Registrar
  • Preparing Subscription Agreements
  • Preparing Director’s Acceptance Letters
  • Preparing and executing Subscriber Resolutions for the appointment of the first Directors
  • Preparing and executing the Share Transfer Instrument for the transfer of Shares from the Subscriber to the Shareholder
  • Preparing the First Board Resolution resolving the Issuance and Allotment of Shares, Appointment of Directors and Officers, Registered Office, etc
  • Preparing the Register of Directors, file the Register with the Registrar, and Providing Stamped Copy
  • Preparing the Register of Members and Register of Beneficial Owners
  • Filing the Beneficial Ownership Information with the Private Beneficial Ownership Register
  • Preparing and executing a Certificate of Incumbency
  • Providing Tax Exemption Undertaking from the Bermuda Government
  • Preparing the Share Certificates
  • Delivery of Corporate Documents, inclusive of Courier Fees

Exempted Limited Liability Company (LLC)

  • All applicable Registration and Government Fees and Duties (Registrar of Companies, Bermuda Monetary Authority)
  • Preparing and executing  the Certificate of Formation, and filing such Certificate with the Registrar
  • Providing the Certificate of Filing issued by the Registrar
  • Preparing a tailored Limited Liability Company Agreement for Members’ review and execution (unlimited reviews)
  • Preparing the Register of Officers, file the Register with the Registrar, and Providing Stamped Copy
  • Preparing the Register of Members and Register of Beneficial Owners
  • Filing the Beneficial Ownership Information with the Private Beneficial Ownership Register
  • Preparing and executing a Certificate of Incumbency
  • Providing Tax Exemption Undertaking from the Bermuda Government
  • Preparing the Ownership Certificates
  • Delivery of Corporate Documents, inclusive of Courier Fees

Time to Form

It generally takes us one day to prepare the Memorandum of Association/Certificate of Formation and prepare the related corporate documentation, around 1 week to obtain BMA endorsement, and 1 to 3 business days for the Registrar to issue the Certificate of Incorporation/Filing.

Bank Account Opening Services (Optional)

We assist you in opening a bank account for the Company in Bermuda.

  • Bermuda Bank Account - USD $ 900.00
    Bermuda Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Bermuda Commercial Bank
    USD 500,000
    Yes
    Multicurrency
    Yes
    HSBC Bank (Bermuda)
    case-by-case
    Yes
    Multicurrency
    Yes

Note that we can also open overseas bank accounts for Bermuda companies in the following offshore jurisdictions:

  • Antigua Bank Account - USD $ 300.00
    Antigua Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Global Bank of Commerce
    USD 25,000
    Yes
    USD, EUR, GBP
    Yes
    DBank
    USD 10,000
    Yes
    USD, EUR
    Yes
    North International Bank
    USD 5,000
    Yes
    USD, EUR
    Yes
  • Bahamas Bank Account - USD $ 500.00
    Bahamas Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Deltec
    USD 1,000,000
    No
    Multicurrency
    Yes
    CIBC FirstCaribbean International Bank
    USD 100,000
    Yes
    Multicurrency
    Yes
    EFG Bank
    USD 1,000,000
    No
    Multicurrency
    Yes
    Capital Union Bank
    USD 1,000,000
    No
    USD
    Yes
    High Turnover Individuals, Family Offices, Fund Managers and Asset Managers only
  • Belize Bank Account - USD $ 300.00
    Belize Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Caye Bank
    USD 1,000
    Yes
    USD, EUR, GBP, CAD, CHF, AUD, AED, CNY, SEK, NOK
    Yes
    Heritage Bank
    USD 3,000
    Yes
    Multicurrency
    Yes
    Belize Bank International
    USD 4,000
    No
    EUR, GBP, USD
    Yes
  • BVI Bank Account - USD $ 900.00
    BVI Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    VP Bank
    USD 250,000
    No
    Multicurrency
    Yes
    Bank of Asia
    USD 20,000
    No
    USD, GBP, HKD
    Yes
  • Cayman Islands Bank Account - USD $ 700.00
    Cayman Islands Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    CIBC FirstCaribbean International Bank
    USD 25,000
    No
    USD, CAD, CHF, EUR, GBP, JPY, AUD
    Yes
    Cayman National Bank
    USD 100,000
    Yes
    USD, EUR, GBP, CAD, AUD, JPY, SEK, CHF
    Yes
    NCB Cayman Limited
    USD 100,000
    Yes
    USD, EUR, CAD, GBP
    Yes
  • Cook Islands Bank Account - USD $ 600.00
    Cook Islands Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Capital Security Bank
    USD 20,000
    Yes
    USD, EUR, GBP, CAD, NZD, AUD, SGD, HKD
    Yes
    Clients can have a corporate account for operational purposes only if they open an investment account as well.
  • Curaçao Bank Account - USD $ 500.00
    Curaçao Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    CIBC FirstCaribbean International Bank
    USD 7,500
    No
    Multicurrency
    Yes
    Exprinter International Bank N.V.
    USD 100,000
    Yes
    Multicurrency
    Yes
  • Dominica Bank Account - USD $ 300.00
    Dominica Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    EqiBank
    USD 15,000
    Yes
    USD, EUR, GBP
    Yes
    Kingdom Bank
    N/A
    No
    EUR, USD
    Yes
    SWIFT transactions are carried out only through a pool account in the name of the bank.
  • EMI Bank Account - USD $ 300.00
    EMI Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    UK EMI Account
    N/A
    No
    EUR, GBP
    Yes
    LT EMI Account
    N/A
    No
    Multicurrency
    Yes
    MT EMI Account
    N/A
    No
    EUR
    Yes
    CA EMI Account
    N/A
    No
    EUR
    Yes
    KZ EMI Account
    Depending on category.
    No
    Multicurrency
    Yes
    HK EMI Account
    N/A
    No
    USD, EUR, GBP, HKD
    Yes
    Currently, the Neat account is available for businesses incorporated in Hong Kong, Australia, BVI, Cayman Islands and New Zealand only.
    IE EMI Account
    N/A
    No
    EUR, Multicurrency
    Yes
    Singapore EMI Account
    N/A
    Yes
    SGD, USD
    Yes
    Only companies incorporated in APAC jurisdictions.
  • Gibraltar Bank Account - USD $ 1,200.00
    Gibraltar Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Turicum Private Bank
    USD 200,000
    No
    USD, EUR, GBP
    Yes
    Moneycorp Bank Limited
    case-by-case
    No
    Multicurrency
    Yes
  • Hong Kong Bank Account - USD $ 2,000.00
    Hong Kong Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    DBS Bank
    HKD 200,000
    Yes
    HKD, USD, Multicurrency
    Yes
    A business nexus in Hong Kong is strictly required, in the form of clients, suppliers, employees or other counterparties.
  • Isle of Man Bank Account - USD $ 1,200.00
    Isle of Man Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Capital International Bank
    N/A
    No
    USD, EUR, GBP
    Yes
  • Labuan Bank Account - USD $ 500.00
    Labuan Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Bank Islam
    USD 10,000
    No
    USD, JPY, SGD, EUR, GBP
    Yes
    MayBank International Labuan Branch
    USD 25,000
    No
    USD, EUR, CAD, CHF, GBP, HKD, SGD, JPY, THB, AED
    Yes
    Citibank
    USD 250,000
    No
    Multicurrency
    Yes
  • Liechtenstein Bank Account - USD $ 1,200.00
    Liechtenstein Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Alpinum
    CHF 250,000
    No
    Multicurrency
    Yes
    Companies conducting commercial activities (as opposed to only holding assets) must have a physical presence in the form of offices and employees in the country where it is incorporated or tax resident.
    Bendura Bank
    USD 500,000
    No
    Multicurrency
    Yes
  • Luxembourg Bank Account - USD $ 1,200.00
    Luxembourg Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    East West United Bank
    N/A
    Yes
    USD, EUR, GBP, RUB, CHF
    Yes
    Companies conducting commercial activities are expected to conduct at least 30 incoming / outgoing transactions per month.
  • Mauritius Bank Account - USD $ 600.00
    Mauritius Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Bank One
    USD 25,000
    Yes
    Multicurrency
    Yes
    Companies must have some form of business connection to Africa in the form of clients, suppliers or investments.
    Investec
    USD 50,000
    Yes
    Multicurrency
    Yes
  • Panama Bank Account - USD $ 1,200.00
    Panama Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    MMG Bank
    USD 10,000
    Yes
    USD, EUR, CHF, GBP, CAD
    Yes
    Credicorp
    USD 50,000
    Yes
    USD, EUR
    Yes
    Capital Bank
    USD 20,000
    Yes
    USD
    Yes
  • Puerto Rico Bank Account - USD $ 300.00
    Puerto Rico Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    FV Bank
    Case by case
    Yes
    USD
    Yes
    Strategic Bank
    USD 100,000
    No
    USD
    Yes
    Arival Bank
    N/A
    No
    USD
    Yes
    CB International Bank LLC
    N/A
    No
    Multicurrency
    Yes
  • Saint Lucia Bank Account - USD $ 300.00
    Saint Lucia Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    PROVEN BANK (Former BOSLIL)
    USD 5,000
    Yes
    USD, EUR, GBP, HKD
    Yes
  • Seychelles Bank Account - USD $ 500.00
    Seychelles Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Al Salam
    USD 25,000
    Yes
    USD
    Yes
  • Singapore Bank Account - USD $ 900.00
    Singapore Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    OCBC Bank
    USD 30,000
    Yes
    USD, SGD, AUD, CAD, HKD, NZD, GBP, EUR, JPY, CHF
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    RHB
    SGD/USD 30,000
    No
    Multicurrency
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    DBS Bank
    SGD 250,000
    Yes
    Multicurrency
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    UOB Bank
    SGD 350,000
    Yes
    Multicurrency
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
    Credit Suisse
    USD 3,000,000
    No
    USD, SGD
    Yes
    Bank of China
    SGD 100,000
    No
    USD, SGD, EUR, GBP, NZD, RMB, AUD, JPY, HKD, CHF, CAD
    Yes
    Nexus in the form of client/supplier/partner/contractor in Singapore required.
  • Switzerland Bank Account - USD $ 1,200.00
    Switzerland Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    mbaer
    CHF 5,000
    No
    Multicurrency
    Yes
    Companies must have an expected turnover of at least CHF 3,000,000
    Sygnum
    CHF 3,000,000
    No
    Multicurrency
    Yes
    Deposit must be maintained in crypto assets held through the bank's custody services.
    Credit Suisse
    CHF 1,000,000
    Yes
    Multicurrency
    Yes
  • USA Bank Account - USD $ 1,400.00
    USA Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    USA Bank Account
    N/A (USD 250,000 preferred)
    No
    USD
    Yes
    USA Bank Account
    Typically USD 25,000 - USD 50,000, for high right 500,000
    Yes
    USD
    Yes
    At least one US based signatory is required. Purpose to open an account in US is required.
  • Vanuatu Bank Account - USD $ 500.00
    Vanuatu Bank Account
    Bank
    Min Deposit
    Cards
    Currencies
    Remote
    Comments
    Pacific Private Bank
    USD 1,500
    No
    EUR, GBP, USD
    Yes
    Outgoing USD transactions cannot be facilitated.

Our bank account opening service is not just a mere introduction to the bank. We assist you in filling out the business plan forms appropriately and help you understand and provide business details, commercial information, and purpose/use of the bank account that a given bank wants to know in order to approve your account application.

Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.

Bermuda Company (Exempted Company/LLC) Annual Fees – USD 9,200.00 (payable every January)

In the first year, the annual fee is USD 7,200 and billed on a pro-rata basis.

  • Bermuda Monetary Authority Annual Fees (Government Fees)
  • Providing Registered Office Services for the calendar year
  • Providing Resident Representative Services for the calendar year
  • Maintaining the Minute Book, Registers and Statutory Records
  • Filing Ultimate Beneficial Ownership information with the Private Register of Beneficial Owners
  • Preparing and filing the Annual Return
  • Advising on the completion of and filing the Economic Substance Notification

Other Services (Optional)

  • Formation and Maintenance of Exempted Partnerships, and Segregated Accounts Companies.
  • Establishment of Trusts and provision of Trustee Services
  • Continuation of Foreign Companies
  • BMA Registration of Investment Funds and Securities Businesses, and related services
  • Economic Substance Services (Local Directorship, Physical Office, Outsourcing of CIGA, etc.)
  • Local Director Services
  • Accounting Services

Please, contact us for further information.

Company Type

SKU: INC-KN-001-4 Category:
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