Bermuda has experienced a 21% increase in the number of new IBC’s being formed when compared to the same period in 2013. This is also an increase of 31% on the numbers in 2012.
Until 2003 foreign banks were not permitted to operate in Bermuda, but this changed when HSBC took over the Bank of Bermuda. This decision to initially exclude foreign banks has led to Bermuda having strong local banks.
In Bermuda there are no;
– Taxes on profits
– Taxes on dividends
– Taxes on income
– Capital gains tax
– Withholding tax
– Sales tax
And although there are some exchange controls for residents of Bermuda these do not apply to non-resident investors.
If you would like to find out how incorporating a company in Bermuda compares to other well-known jurisdictions please do not hesitate to contact us by following the link below or call us on our offices
Telephone Number: 44 20 7097 1385 or Contact Us