Bermuda company help: answers by topic

What documents does Bermuda vetting need before incorporation?

Owners are vetted before the company exists. Anyone holding 10% or more usually provides certified identity documents and a personal declaration, and the service provider submits a business plan with them. Other directors and beneficial owners provide a passport and proof of address. Complete, certified documents are the main factor in the 1–2 week timeline.

Source: Issue, transfer, redemption and purchase of securities, Bermuda Monetary Authority (accessed Sep 2026)

What should the business plan for a Bermuda company cover?

What the company will do, where it will operate, who its customers and counterparties are, how it is funded and who controls it. Keep it short and specific. Insurance, fund and digital asset businesses need a separate Bermuda Monetary Authority licence with its own, much longer application, which we quote separately.

Can Bermuda company documents be apostilled?

Yes. Bermuda is covered by the Hague Apostille Convention through the United Kingdom, so apostilled Bermuda documents are accepted in other member countries without consular legalisation. Counterparties often ask for an apostilled certificate of incorporation and a certificate of compliance or good standing.

Certification and apostilleSource: Status table: Convention abolishing the requirement of legalisation for foreign public documents, Hague Conference on Private International Law (HCCH) (accessed Sep 2026)

Why can my Bermuda annual fee change when the company's capital changes?

Because the annual government fee is set on a scale based on the company's assessable capital, broadly its share capital plus any share premium (confirm the definition for your company with your specialist). Increasing capital can move the company into a higher band for the next 31 January payment. Tell us before a capital change and we show the new fee first.

Source: Companies Act 1981, Bermuda Laws Online, Government of Bermuda (accessed Sep 2026)

When will I get the Bermuda renewal invoice?

In time for the annual government fee, which is due by 31 January. The invoice lists the government fee, registered office, secretary, resident representative and our fee as separate lines, and the audit is quoted on its own if it is not waived. Pay by card, PayPal or wire on Renew & pay.

Renew & paySource: Companies Act 1981, Bermuda Laws Online, Government of Bermuda (accessed Sep 2026)

What do Bermuda banks expect from a new company?

A clear business purpose and strong source-of-wealth evidence for the beneficial owners, on top of the certificate, memorandum, bye-laws and registers. Some banks ask for a video call or a meeting with the owners. We introduce you and prepare the file, and the bank decides.

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Can a Bermuda company bank outside Bermuda?

Yes, and many do, often where the group already operates. Bermuda had no FATF or EU-list flag at our September 2026 review, which helps with international banks. Expect the same core questions wherever you apply: who owns the company, what it does and where its money comes from.

What is the annual economic substance declaration in Bermuda?

A yearly form sent to the Registrar of Companies saying whether the company carries on a relevant activity and which one. Every company files it, including those with no relevant activity. Companies that do carry on one, such as holding, financing or headquarters business, must also show adequate management, staff, spending and premises in Bermuda.

Source: Changes to annual declarations for all entities, Government of Bermuda, Registrar of Companies (accessed Sep 2026)

Do I need approval to transfer shares in a Bermuda company?

Often yes. Issues and transfers of shares involving non-residents need consent from the Bermuda Monetary Authority, unless a general permission covers them. Tell us before you agree a transfer, so we can check whether consent is needed and file the beneficial ownership update afterwards.

Corporate changesSource: Issue, transfer, redemption and purchase of securities, Bermuda Monetary Authority (accessed Sep 2026)

Does a Bermuda company have to hold an annual general meeting?

Yes, unless the shareholders validly elect to dispense with it (confirm the procedure with your specialist). Audited accounts are laid before that meeting unless all shareholders and directors have waived the audit. We prepare the waiver resolutions if they suit your company and keep them on file.

Source: Companies Act 1981, Bermuda Laws Online, Government of Bermuda (accessed Sep 2026)

Can I move my Bermuda company to a new service provider through OCC?

Yes. We complete KYC, the company appoints a new registered office, secretary and resident representative through a licensed Bermuda provider, and the changes are notified to the Registrar. The current provider releases the records once its fees are settled.

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What happens if a Bermuda company stops paying its annual fee?

The Registrar can add penalties and, in the end, strike the company off, which ends its legal existence and can freeze its assets. Restoring it needs an application and the arrears (confirm the route with your specialist). If you no longer need it, close it through a planned dissolution instead.

Company strike-offSource: Companies Act 1981, Bermuda Laws Online, Government of Bermuda (accessed Sep 2026)