Bermuda: Atlantic Financial Center with Regulatory Excellence

Bermuda, a British Overseas Territory in the North Atlantic, has developed a sophisticated financial services sector specializing in insurance and reinsurance. The jurisdiction's regulatory approach and proximity to the US East Coast support high-quality company registration and business setup.

Living in Bermuda

With a population of 64,000, Bermuda offers an affluent island lifestyle with British influences. English is the official language. The island provides excellent beaches, golf courses, and sailing in a subtropical climate. Safety is excellent with very low crime rates.

Healthcare is good, with King Edward VII Memorial Hospital providing comprehensive services. The cost of living is among the highest globally, driven by import costs and limited housing supply. Education standards are high, with a British-influenced curriculum.

The compact island creates a close-knit community that can feel either welcoming or insular depending on integration success.

Doing Business in Bermuda

Bermuda has no corporate income tax, personal income tax, capital gains tax, or VAT. Government revenue comes from payroll tax, customs duties, and company fees. This tax-neutral status, combined with regulatory sophistication, has attracted insurance, reinsurance, and investment fund industries.

The Bermuda Monetary Authority provides world-class financial regulation, particularly for insurance. The jurisdiction's Solvency II equivalence enables EU market access for insurers. Extensive tax information exchange participation maintains international acceptability.

Company Formation and Registration

Company registration through the Registrar of Companies involves structured processes for different company types. Exempted companies serve non-local business and require minimum one shareholder and one director. Local companies can trade within Bermuda.

Company formation typically takes 1-2 weeks for exempted companies, longer for regulated entities. No minimum capital requirements apply to general exempted companies, though insurance companies face substantial capitalization requirements. Non-Bermudians require work permits for local employment.

Crypto License Opportunities

Bermuda introduced the Digital Asset Business Act, creating one of the world's first comprehensive crypto license regimes. The Bermuda Monetary Authority licenses digital asset businesses across various classifications including digital asset exchanges, custodians, and token issuers.

The regulatory framework emphasizes robust compliance requirements suitable for institutional-grade operations, attracting established digital asset businesses seeking regulatory credibility for their crypto license needs.

Gambling License Framework

Bermuda regulates limited casino gaming primarily for tourism purposes. Online gambling license opportunities are minimal, as the jurisdiction has not positioned itself for remote gaming operations. The focus remains on land-based, tourism-integrated gaming.

Considerations

The high cost of operations—including housing, work permits, and general expenses—makes Bermuda suitable only for substantial businesses that justify premium positioning. Banking access is good through local banks serving the financial services industry.

The remote Atlantic location means longer travel connections. Work permit requirements limit staffing flexibility. Professional services are expensive but sophisticated, particularly for insurance and investment structures.

Bermuda suits insurance and reinsurance companies, investment funds, high-value holding structures, and businesses seeking regulatory excellence for their business setup.