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Bermuda
Doing Business
Bermuda Business Guide
Bermuda offers a diversified and stable economy spanning several key sectors, a unique geographical location, and strong trade ties with developed markets.
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Bermuda Business GuideBM
Bermuda
Corporate Income Tax
Bermuda Tax Brief
Bermuda’s tax system is renowned for its “zero direct tax” framework, with a standard corporate income tax rate of 0%, and no personal income tax, capital gains tax, inheritance tax, or value-added ta…
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Bermuda Tax BriefGeneral CIT Rate
15% (if subject to Bermuda CIT) or 0%.
CIT Return Due Date
If subject to Bermuda CIT, tax returns are proposed to be due by the 15th day of the 10th month following the fiscal year-end.
CIT Payment Due Date
Upon filing the CIT return (if applicable), a 'true-up' payment considering previous estimated payments must be made no later than the due date of the return, regardless of when the return is filed.
Estimated Payment Due Date
Taxes are paid in instalments.<br><br>The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.<br><br>The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
Resident WHT (Dividend/Interest/Royalty)
0
Non-Resident WHT (Dividend/Interest/Royalty)
0
General Capital Gain Tax Rate
There is no VAT or sales tax in Bermuda.
Composite Effective Average Tax Rate
0
Composite Effective Marginal Tax Rate
0
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Bermuda
Legal Entity Types
Bermuda LLC
Limited liability company
A Limited liability company(LLC) in Bermuda is a type of limited liability company. Shareholder liability is limited to the amount of capital contribution. At least one shareholder is required, with n…
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Bermuda LLCOwnership
Private Ownership
Limited Liability
Positive
Publicly Participates In Capital Market
Negative
Requirements For Shareholders
At least one.
Requirements For Directors
At least one.
Legal Representative Not Mandatory
Negative
Local Directors Not Mandatory
Positive
Local Secretaries Not Mandatory
Positive
Minimum Registered Capital Requirement
No min cap requirement
Capital Injection Not Required
Positive
Capital Injection Requirement
No requirement for capital injection.
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