A Bermuda Investment Management Company is governed by the Investment Business Act, 2003 of Bermuda (the “IBA”) and the Bermuda Immigration and Protection Act, 1956 as amended (the “IPA”). No unique requirements are applicable to investment management company incorporations in Bermuda. The company will be incorporated as an exempted (i.e. foreign owned) Bermuda company. There is no minimum share capital required under Bermuda law.
The objects of the Company would be unrestricted but would also specifically include the ability to provide investment management services to foreign (i.e. non-Bermudian) interests.
Features
Bermuda companies fall into two principal categories: companies incorporated by Bermudians to trade primarily in Bermuda and companies incorporated by non-Bermudians for the purpose of conducting business outside Bermuda.
Registered Office
Each Bermuda Offshore Company must have a Registered Office in Bermuda, provided by a Licenced Registered Agent.
Directors
A Bermuda Company requires a minimum of one director. There must always be sufficient Bermuda resident directors to form a quorum in Bermuda. Non-Bermuda directors may be appointed. Corporate directors are not permitted.
Shareholders
A Bermuda Company requires a minimum of one shareholder.
Tax exemptions and concessions
In Bermuda there is no income tax, capital gains tax, VAT, sales or wealth tax.
