Bermuda Company Formation Benefits
What are the benefits of company formation in Bermuda? Bermuda is a popular jurisdiction for US citizens because it is close to the United States, as it’s only 1,000 kilometres off Cape Hatteras, North Carolina. Here’s why Bermuda is a popular and favourable location for an offshore company formation process.
What are the benefits of company formation in Bermuda?
Did you know that you can convert your present corporate identity or amalgamate with an LLC if you choose to form an LLC in Bermuda? You can do so in Bermuda and take advantage of this provision in the Limited Liability Company Act 2016. It’s popular, especially for entities looking to not have to start all over again. Along with that, there are other advantageous corporate structures you can use to form an enterprise in Bermuda.
Some of the other Bermuda company formation benefits are:
- 100 per cent foreign ownership
- 100 per cent exemption from capital gains and estate taxes
- 100 per cent exemption from income taxes and taxes on dividends
- Information regarding directors, shareholders and owners is not part of public records
- Companies do not have to maintain annual records
- Exempt from corporate taxes as long as you do not do business nor own property in Bermuda