Detailed Product Description

Company Type	Time to Incorporate
Exempt	3-5 days

The formation procedure of a Bermuda Company is complex. Initially an advertisement is placed in a local newspaper announcing the intention to incorporate. The name of the proposed company, together with the objects clauses, has to be disclosed in the advertisement, also if the company requires to be exempt or domestic. An application for consent to incorporate is made to the Bermuda Monetary Authority. This application contains:

• The company name

• The proposed registered office address

• The nature of intended business

• The names, addresses and nationalities of the proposed directors

• The names, addresses and nationalities of the proposed shareholders and their interest in the proposed company

• The Memorandum of Association detailing the share capital and classes of shares and whether the liability of the company's shareholders will be limited or unlimited

• Proposed bank account details

• Bank character references relating to the proposed beneficial owners

100% foreign ownership is permitted with a Bermuda exempt company, and only one shareholder is required, corporate shareholders are allowed.

Unlike many jurisdictions, a Bermuda company presents a first class image internationally as Bermuda is an international financial and banking centre with one of the world's highest per capita incomes.

Bermuda's Tax Neutrality System: Bermuda imposes no direct taxation on businesses operating from Bermuda. In essence, there are no income, capital gains or withholding taxes imposed on businesses operating in or from Bermuda.

A Bermuda exempt company is not required to submit annual tax returns or audited financial statements.

Tax Neutrality
 

There are no taxes on profits, income or dividends nor is there any capital gains tax, withholding tax, estate tax or death duty.

Minimum capital requirement and share structure

The Companies Act 1981, as amended provides that a company must have at least a minimum capital of US$12,000 and that all shares should have a par value - the minimum share capital of US$12,000 must be subscribed, but there is no requirement that this capital be actually paid up.

Incorporation Costs

Our professional fee to establish an exempted company in Bermudawith up to three shareholders, adopt standard by-laws and objects andwith an authorised share capital of US $12,000, will be £6120.

Thisincludes government fees, the first year's domiciliation (provision ofregistered office and registered agent) and the required sharecertificates, certificate of incorporation.

The company formation procedure in normally takes 3-5 days.

Yourcompany will be incorporated and we will ensure that the procedure isas simple as possible. The entire incorporation process can be arrangedonline and we will prepare and file the company registration forms onyour behalf. Upon filing confirmation from the Companies Registry, wewill email you the incorporation details and then forward the leatherbinder containing the official certificate and documentation.

Our professional services include:

Bermuda Exempt Company Incorporation
Annual fees - Corporate administrative
Annual Government Fees

The company formation procedure in Bermuda typically takes 3-5 days.
Reserving your Company Name Liaising with the local registrar and relevant authorities Structuring the company as per your requirements Prepare your Company Registration Forms Drafting the Articles of Association / Statutes File the documents with the Companies Registry Government filing fee on registration of the company Appoint the Directors Minutes appointing first Directors Preparation of the first minutes of Board Meeting Government Fee based on share capital of $12,000 Government application fee for Tax Exemption to 2016 Government consent permit to incorporate Certificate of Incorporation Issue of shares and production of Share Certificates Leather binder with all documents and certificates Delivery of documents by FedEx / DHL courier Our Corporate Administrative service includes: Provision of the Registered Office and Registered Agent in Bermuda Compliance with local domicile requirements Ensuring that your Company is kept in good standing through payment of Annual Government Fee and filing of annual documents Total cost to incorporate a company in Bermuda	£6120
Includes the following: Provision of the Registered Office and Registered Agent in Bermuda Compliance with local domicile requirements	£2400
Annual Government Fee based on share capital of $12,000	£1375