Bermuda Company Formation Requirements
What are the requirements for Bermuda company formation? Bermuda requires that the company maintain a registered local office with a resident secretary and that the share register, minute book and register of directors that must remain there. A Bermuda Exempt Company cannot do business in Bermuda. It may not employ anyone in Bermuda and may not own an office or any property. Every company in Bermuda must include “Limited” or “Ltd” in the name.
What are the other requirements for company formation in Bermuda?
The Bermuda Monetary Authority is responsible for application processing, and requires the name, office location, business declaration and proposed corporation ownership details along with a personal shareholder declaration.
The full requirements for Bermuda company formation are:
- Certified copy of your photo identification or passport
- Proof of residential address no more than three months old
- Financial information including the par value of shares and share capital to submit to the Minister of Finance
- Memorandum of Association
- Declaration of share capital every January to determine the annual re-registration fee