When considering offshore incorporation, Bermuda emerges as an exceptional choice for various compelling reasons. With its attractive tax benefits and highly supportive legal framework, Bermuda provides an ideal environment for businesses to thrive. The island's business-friendly statutes and robust regulatory framework ensure that the process of company registration is both swift and straightforward. Bermuda’s strategic advantages extend beyond tax incentives, offering a prestigious and stable jurisdiction for your business. Embrace the ease and efficiency of Bermuda company registration and unlock the potential for significant corporate growth and success.

Manimama ensures a seamless company registration process in Bermuda. Trust us to provide expert guidance and support, so your business can thrive from day one in Bermuda. Start your journey with confidence, knowing you have the best team by your side.

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Legal Opinion about Bermuda as a Jurisdiction for Company Formation

Ganna Voievodina

Manimama

CEO

"Bermuda stands out as a premier jurisdiction for company formation due to its advantageous tax regime, robust legal framework, and international credibility. The island offers substantial tax benefits, including no corporate income tax, which attracts a wide range of businesses. Its legal system, based on English common law, ensures a high level of regulatory compliance and stability, making Bermuda an appealing and secure choice for establishing a company. Contact us to set up your company".

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Our Packages

Our comprehensive packages simplify the process of setting up the perfect legal entity for your business whether you are a small start-up, a non-profit company, or an international company. Let us guide you through every step, ensuring your business begins on a solid foundation.

Company Formation

Company formation
Registered address for the 1st year
Annual accounting requirement bookkeeping

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Annual Services

Company renewal and registered address
Annual Government Tax
Mandatory Financial Beneficiary Report

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Other Services

Set of corporate documents (certified/apostille)
Nominal service for 1 year
Offshore banking

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Key Numbers about Incorporations

2 weeks

average term of company formation

аt least 1

shareholder in the company

аt least 1

director in the company

0%

corporate income tax (CIT) rate

0%

personal income tax (PIT) rate

0%

value-added tax (VAT) rate

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Set up Your Company in Bermuda in Several Steps

Step 1. Initial Setup

Initiating a preliminary project assessment
Preparation and filing of the package of documents

Step 2. Pre-registration preparation

Application for non-objection from the Bermuda Monetary Authority (BMA), and preparation of the legal documentation to incorporate the Company

Duration: 1-2 weeks

Step 3. Company registration

Reservation of the company name in Register of Companies
Preparation and submission of the application to the BMA and requesting a beneficial ownership permit
Preparation and submission of the Memorandum of Association to the Registrar of Companies
Payment of government fees

Duration: 1-2 day

Step 4. Opening a bank account

Requirements for Company Formation in Bermuda

Before deciding to set up a new company in Bermuda, read the information below to understand the characteristics of a Exempt Limited Liability Company (ELLC):

Shareholders: at least one shareholder.

Director: must be two individuals, ordinarily resident in Bermuda, who serve either: one as secretary and one as resident representative, or one as secretary and one as director, or both as directors of that company.

Company Secretary: required.

Minimum Share Capital: no paid up capital requirement. Standard share capital is $12,000.

Liability: limited to the amount of capital shareholders have invested in the company through their shares.

Accounting: no.

Taxes in Bermuda

Corporate income tax (CIT)

Bermuda offers an attractive tax environment with no taxes on profits, income, dividends, or capital gains. Companies can accumulate profits without restrictions and are not required to distribute dividends, making it an ideal jurisdiction for business growth and wealth retention.

The Government of Bermuda is set to introduce a Corporate Income Tax (CIT) targeting Bermuda-based businesses that are part of Multinational Enterprise Groups (MNEs) with annual revenues of €750 million or more. This proposed CIT is scheduled to be implemented in January 2025, aligning Bermuda with global tax standards and ensuring fair taxation for large-scale enterprises operating within its jurisdiction. The CIT will be determined based on a tax rate of 15% (subject to reductions for foreign tax credits).

Personal income tax (PIT)

Individuals in Bermuda don’t pay PIT. But all companies and self-employed persons are required to pay Payroll Tax in Bermuda.

Value-added tax (VAT)

There is no VAT in Bermuda.

Double taxation avoidance agreements in Bermuda: Bahrain, Qatar, Seychelles, UAE.

Start Your Company Formation Process with Manimama

There are numerous reasons why Manimama is the leading company formation agent in Bermuda:

Expertise in Bermuda Regulations

1. Manimama has an in-depth understanding of Bermuda legal and regulatory framework.
2. Our team ensures all legal requirements are meticulously met for a seamless company formation process.

Local and International Experience

1. With extensive experience in both local and international markets, Manimama can cater to a diverse range of business needs.
2. Our expertise spans various industries, providing customized solutions for each client.

Efficient and Timely Service

1. We pride ourselves on our swift turnaround times, ensuring your company is registered promptly.
2. Our efficient processes minimize delays and get your business up and running quickly.

Client-Centric Approach

1. Manimama prioritizes customer satisfaction by offering personalized support and guidance.
2. Our dedicated team is always available to address any concerns and provide expert advice.

Robust Network of Local Partners

1. We have established strong relationships with local authorities, banks, and service providers.
2. This network ensures that your business receives the best possible support and resources.

Ongoing Compliance Support

1. We provide continuous support to ensure your business remains compliant with Bermuda laws.
2. Our team keeps you updated on any regulatory changes that may impact your company.

Frequently asked questions

Why should I consider Bermuda for company formation?

Bermuda offers a favorable tax environment, robust legal framework, and a streamlined incorporation process, making it an attractive jurisdiction for international business.
What types of companies can be formed in Bermuda?

You can form exempted companies, local companies, and permit companies, each catering to different business needs and foreign ownership structures.
How long does it take to incorporate a company in Bermuda?

Incorporating a company in Bermuda typically takes 2 weeks, assuming all documentation is in order.
Are there any tax benefits for companies in Bermuda?

Yes, Bermuda imposes no taxes on profits, income, dividends, or capital gains, and there are no requirements to distribute dividends or limitations on profit accumulation.
What are the requirements for directors and shareholders in a Bermuda company?

Bermuda companies must have at least one director and one shareholder.
Can foreign nationals own 100% of a Bermuda company?

Yes, foreign nationals can own 100% of an exempted company in Bermuda.
What is the minimum share capital requirement for a Bermuda company?

There is no minimum share capital requirement for forming a company in Bermuda.

Semen Kaploushenko

KUNA, CBDO

"Manimama OU provided exceptional legal services, guiding us through the complexities of international business setup with professionalism and expertise. Their team's attention to detail ensured our compliance and smooth operation."

Vadym Grusha

Trustee Wallet, CEO

"I highly recommend Manimama OU for their outstanding support. Their knowledgeable lawyers made the entire process straightforward and efficient."

Yuriy Soshenko

WhiteBit, CLO

"The legal advice and services from Manimama OU were top-notch. Their dedication and thorough understanding of our needs helped us achieve our business goals seamlessly."

Manimama as the Best Solution for Your Company Formation in Bermuda

Choosing the right partner for company registration is crucial for a smooth and successful business launch. At Manimama, our legal experts specialize in navigating complex legal landscapes, providing holistic solutions tailored to your needs.

Comprehensive Legal Expertise
Since our inception, Manimama has been at the forefront of tackling intricate legal challenges with innovative and thorough solutions. Our team of dedicated lawyers evolves alongside our firm, reflecting our people-centric philosophy and commitment to excellence.
Results-Driven Approach
Manimama is a results-oriented law firm that offers an extensive array of legal services to both individuals and corporate entities. We pride ourselves on maintaining the highest standards of integrity and a "client-first" approach, leveraging our extensive skills and knowledge to achieve the best outcomes for our clients.
Global Presence and Local Expertise
Our journey began with the establishment of Manimama OU's first European office in Estonia, a country renowned for its progressive regulation of virtual currencies, international investments, fintech, and gambling sectors. Estonia’s favorable tax system and digital-friendly investment climate provided a robust foundation for our expansion.
Community Commitment
At Manimama, we believe in giving back to society and making a positive impact. Our commitment to social responsibility is integral to our operations, ensuring that we contribute to making the world a better place while helping our clients achieve their business goals.

By choosing our company formation service in Bermuda, you are partnering with a law firm that values integrity, expertise, and client satisfaction. Let us help you set up your company in Bermuda and pave the way for your business success.