BERMUDA INCORPORATION
BANK ACCOUNTS
Offshore Bermuda. Bermuda Offshore Companies
KGN specializes in Bermuda Offshore Companies and opening bank accounts.
Bermuda Offshore Companies – Overview
Main company legislation
Companies Act 1981 as amended.
Type of law
Ordinary.
Legislative language and corporate documents
English.
Entity type for international trade, investment and tax planning
Bermuda exempt company.
Bermuda Exempt Company – Key Facts
Share capital
Standard authorized share capital is US$12,000. Minimum paid-up share capital is US$1.
Available share classes
registered shares, preference shares, redeemable shares and shares with or without voting rights.
Bearer shares
Not allowed.
Restrictions on trade
A Bermuda offshore company cannot trade within Bermuda. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship are not permitted.
Registered agent required
Every Bermuda Offshore Company must have a Licensed Registered Agent in Bermuda.
Registered domicile required
Every Bermuda Offshore Company must have a registered office in Bermuda, provided by a licensed registered agent.
Directors
A Bermuda company requires at least one director. There shall at all times be sufficient residents of Bermuda to form a quorum in Bermuda. Non-Bermuda directors may be appointed. Company directors are not permitted.
Shareholders
A Bermuda company requires at least one shareholder.
Publicly available records
None.
Nominee shareholders and nominee directors
Allowed.
Location of board and shareholder meetings
Everywhere.
Personal presence required
None.
Taxation
Zero.
Access to double taxation
None.
Requirements for registration of accounts
Yes.
Requirement to submit an annual statement
None.
Revision requirements
None.
Exchange control
None.
The language of the name
English.
Limited Words
Words like “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust Company”, “Trustee Company”, etc. will require justification.
Name of a company
The words “Limited” or “Ltd” must form part of the name of all Bermuda companies.
Time to incorporate
Two to three weeks.
Why choose KGN?
We have been helping business owners since 1996
Our focus is to incorporate your business
We make a complex process quick and easy
We work closely with the company registers to guarantee our service
Fastest offshore companies and accounts – The most competitive rates worldwide
Services related to Offshore Bermuda
KGN provides the following services related to Offshore Bermuda:
Bermuda Company Formation
Registered office and agent services in Bermuda
New Zealand Company Secretarial Services
Nominated shareholder / nominated director
Opening bank accounts
Full Bermuda Company Administration Services
Postal address in Bermuda
Trademark registration
Registration of yacht
Bermuda – General information
Location: North America, group of islands in the North Atlantic Ocean, east of South Carolina (USA).
Area: total: 54 km2, land: 54 km2, water: 0 km2. …
Natural resources: Limestone, pleasant climate fostering tourism.
Population: 370,864 (July 2017 est.).
Capital: Hamilton.
Time zone: UTC-4.
Languages: English (official), Portuguese.
Dependency Status: British Overseas Territory.
Government Type: Parliamentary Democracy (Parliament); self-governing overseas territory of Great Britain.
Legal system : English common law.
International organization participation : Caricom (associate), ICC (NGOs), Interpol (sub-agency), IOC, ITUC (NGOs), UPU, WCO.
Economy : International business, which primarily consists of insurance and other financial services, is the real basis of Bermuda’s economy, consistently accounting for about 85% of the island’s GDP. Tourism is the country’s second largest industry, accounting for about 5% of Bermuda’s GDP, but a much larger share of employment. Even the financial sector has lost around 5,000 high-paying foreign jobs since 2008, which has weighed on household consumption and retail sales. Bermuda has to import almost everything and the government continues to work to attract foreign investment. Yet Bermuda enjoys one of the highest per capita incomes. population in the world.
Currency: Bermudian dollar (BMD).
KGN | Bermuda Company Registration | Bermuda Incorporation | Bermuda company registration
Tags: Bermuda Company | Bermuda Company Formation | Bermuda Company Registration | Bermuda Incorporation
Requirement to submit an annual statement
