THE INCORPORATION OF EXEMPTED COMPANIES IN BERMUDA
1. Most exempted companies can be formed by registration within a week from the date when complete instructions are received at our offices. To enable our office to accomplish registration on your behalf, we will require the following:
(a) the proposed name of the exempted company, preferably with two alternative names. The Registry is quite flexible and allows registration of names that are case sensitive (e.g. with certain letters or words in block capitals), or using plays on words or letters Accordingly, please insert the name as you want it to appear;
(b) a full description of the intended activities of the proposed exempted company (as opposed to its objects and powers);
(c) the full names, including middle names (initials are not acceptable), residential addresses, occupations, and nationalities of all beneficial owners of the proposed exempted company;
(d) Personal Declarations Declarations (see example in the Questionnaire which can be downloaded below), completed and signed by each beneficial owner, for submission to the Bermuda Monetary Authority. If the parent of the proposed company is listed on a recognized stock exchange, these are not necessary.
2. Our standard fees for the formation and organization of an exempted company, incorporated by registration, are set out on page 10 of the Questionnaire which can be downloaded below. These fees do not include any additional work such as the drafting of special objects or bye-laws and also do not include disbursements in connection with the incorporation, which would be as follows:
(a) An Annual Fee is payable to the Bermuda Government based on share capital. US$1,995.00 is charged on the share capital of US$NIL up to $12,000.00 for each year the company is in existence on a calendar year basis, the first installment of which is due immediately upon the organization of the company. If the company is formed between 1st September and 31st December the Annual fee for the balance of that year is reduced by half (i.e. US$997.50).
(b) A fee for incorporation of $305.00 is payable on application to the Bermuda Monetary Authority.
(c) A registration fee of $90.00.
(d) Miscellaneous disbursements (faxes, long distance calls, photocopies, printing, corporate supplies, which normally amount to approximately $450.00.
3. An exempted company is entitled to apply for an undertaking from the Bermuda Government for an exemption from tax in the event of direct taxation being introduced through the legislature, such as a corporation or dividend tax, income or capital asset, gain or appreciation tax or a tax computed on profits. This undertaking, or statutory guarantee, is provided for under The Exempted Undertakings Tax Protection Act 1966 and is valid until 20th March 2035. A fee of US$185.00 is payable to Government for this tax exemption, which is optional.”
Download Questionnaire – for the incorporation of Exempted Companies in Bermuda and fax the completed form to (441) 292 2024