Does the new 15% tax affect my company?

Only if you are part of a multinational group with consolidated revenue above EUR 750m. Everyone else remains outside the corporate income tax.

Why do so many NYSE listings use Bermuda?

Familiar corporate law, flexible share structures, no domestic tax friction and a regulator that institutional investors and auditors already know.

How long does a Bermuda company take?

One to three weeks including BMA personal-declaration vetting of the beneficial owners, which is done before incorporation.

Jurisdiction · Atlantic

Bermuda

The world's reinsurance capital and a listed-company domicile of choice.

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Overview

Bermuda underwrites a substantial share of the world's catastrophe reinsurance and hosts more insurance-linked securities than anywhere else. It is also a favoured domicile for companies listing on the NYSE and Nasdaq, because Bermuda corporate law is familiar to US institutional investors and its regulator is Solvency II equivalent.

Bermuda is expensive and deliberately so. The BMA screens owners before incorporation, professional fees are high, and the jurisdiction competes on regulatory quality rather than price.

Typical use-cases

Where Bermuda fits

Reinsurance
Listed holdcos
Insurance-linked securities

Banking

Banking landscape

Butterfield, HSBC Bermuda and Clarien Bank serve the market. Bermuda banking is conservative and relationship-driven, with meaningful minimum balances for corporate accounts. Insurance entities generally bank through their managers' established relationships.

Tax

Tax & reporting

No corporate income tax, income tax or capital gains tax historically. From 2025 Bermuda applies a 15% corporate income tax to in-scope multinational groups with revenues above EUR 750m, aligning with OECD Pillar Two. Payroll tax applies to Bermuda employment. Annual government fees are significant.

Substance

Substance & register visibility

Economic substance requirements apply to relevant activities, with insurance and fund management naturally satisfying them through local managers. Beneficial ownership is vetted by the BMA before incorporation and held on a private register. Bermuda's regulatory reputation is a structuring asset, not an obstacle.

Decision

When to pick this jurisdiction

Pick Bermuda for reinsurance, catastrophe bonds and insurance-linked securities, or when a group intends to list in the US and needs a domicile that institutional investors already accept.

The director's view

Written up as a comparative shortlist.

Every Bermuda recommendation is delivered as a comparative memorandum — substance defensibility, banking access, treaty coverage, register visibility, cost to maintain and reputational risk — so the client can see the trade-offs before committing.

Next step

Considering Bermuda? Get a written comparison first.

Answer six questions and a director will come back with a shortlist, indicative costs and banking route.

Scope a structure here Compare jurisdictions

Frequently asked

Questions we hear on every Bermuda intake.

Does the new 15% tax affect my company?: Only if you are part of a multinational group with consolidated revenue above EUR 750m. Everyone else remains outside the corporate income tax.
Why do so many NYSE listings use Bermuda?: Familiar corporate law, flexible share structures, no domestic tax friction and a regulator that institutional investors and auditors already know.
How long does a Bermuda company take?: One to three weeks including BMA personal-declaration vetting of the beneficial owners, which is done before incorporation.

Relevant services

What we typically deliver in Bermuda

All services

Structures