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Article

Get a Family Office Work Permit

Purpose and Specifications A Family Office Work Permit allows a Family company that is new to Bermuda to receive automatic approval of five (5) work permits within the first six (6) months of obtaining the first Family Office Work Permit. For this purpose, a “Family Office” means a company, limited liability company, partnership or other legal entity incorporated, registered or established on behalf of, or for the benefit of, a single family (the family clients) for the purpose of managing the..

05 November 2025 Immigration 2 min read

Article

Get a Fintech Business Work Permit

Purpose and Specifications A Fintech Business Work Permit allows a Fintech company that is new to Bermuda to receive immediate approval of five (5) work permits within the first six (6) months of obtaining the first Fintech Business Work Permit. Work permits which are applied for within the first 6 months do not need to be advertised. Employers cannot apply for Fintech Business Work Permits for jobs which are deemed to be closed or restricted positions (see section 3.12), such as a front office.

05 November 2025 Immigration 2 min read

Article

Get a New Business Work Permit

Purpose and Specifications A New Business Work Permit allows an exempted company (per the definition in the Companies Act 1981 (“the Companies Act”)) that is new to Bermuda to receive automatic approval of work permits within the first nine (9) months of obtaining the first new business permit. The first New Business Work Permit must be applied for within the first 12 months of the business registration or incorporation. There is no need to advertise the positions (which is normally the...

05 November 2025 Immigration 2 min read

Article

Get a Periodic Work Permit for Travelling Salespersons

Traveling salespersons are not permitted to visit Bermuda to sell products without first obtaining a Periodic Permit. Applications for Periodic Permits in respect of travelling salespersons will be accepted from either (a) a local business acting as an agent or (b) from the Bermuda Chamber of Commerce (“the Chamber”). The Chamber will screen each application to determine if the product is already represented by a local firm and whether issuance of the permit will threaten that firm’s interests..

05 November 2025 Immigration 1 min read

Article

Bermuda Customs Declaration (BCD)

The Bermuda Customs Declaration (BCD) is the principal form of entry for imports and exports of goods to and from Bermuda. The BCD is a single administrative document. That means that the BCD is the appropriate form of entry for use by commercial and non-commercial importers to declare all types of goods no matter what the customs procedure (i.e. import, export, bond, transfer in bond, exemptions, concessions, etc.). All BCDs must be submitted electronically via the Customs Automated Processing.

01 July 2025 Customs 2 min read

Article

Calculating Payroll Tax for the period April 1, 2025 – March 31, 2026

Payroll Tax Amendments for the fiscal year April 1, 2025 – March 31, 2026 The budget statement which was read on Friday, May 2, 2025, by the Premier and Finance Minister, the Hon. David Burt, JP, MP included the following amendments to the Payroll Tax Act 1995. Redundancy Payments – Tax Exemption Effective July 1, 2025, any payments made to employees or deemed employees, or benefits provided in connection with the permanent termination of employment —whether due to redundancy or other...

24 March 2025 Office of The Tax Commissioner 6 min read

Article

Changes to Annual Declarations for all Entities 2024

Companies, Permit Companies, LLCs, Exempted Partnerships, Exempted Limited Partnerships, and Overseas Partnerships are required to provide information which is relevant to the administration of the Corporate Income Tax Act, 2023 (“CIT Act”). In order to facilitate the collection of this information the annual declaration forms will be updated on December 15th 2024 at www.registrarofcompanies.gov.bm . Specific instructions and guidance relevant to the completion of the questions in the annual...

11 December 2024 Registrar of Companies 1 min read

Article

Step-by-Step Guide to Starting a Fintech Company in Bermuda

Starting a fintech company in Bermuda involves several key steps to ensure compliance with local regulations and leverage the benefits offered by Bermuda’s business environment. Here is a summarized guide based on the detailed document provided by the Bermuda Government: Key Steps Research and Planning: Understand Bermuda’s fintech ecosystem and regulatory environment. Develop a robust business plan. Legal Structure: Choose a suitable legal structure for your business (e.g., limited liability...

10 July 2024 Economic Development Department 1 min read

Article

Incentives for Job Makers - Guidelines for Employers

The Economic Development Department (EDD) offers a range of incentives for employers who are committed to job creation and economic growth in Bermuda. These guidelines provide detailed information on the available incentives and the application process for employers. Below is an overview of the key aspects: Overview of Incentives Tax Relief: Employers may be eligible for tax relief, including payroll tax exemptions and customs duty relief, to support job creation. Work Permit Concessions:...

10 July 2024 Economic Development Department 2 min read

Article

Fintech Training Programme for Bermudian Learners

The Economic Development Department (EDD) is pleased to fund the Fintech Training Programme for Bermudian learners. This programme is designed to enhance skills and provide valuable networking opportunities in the fintech industry. Below are the steps and requirements for successful participation: Steps and Requirements Application and Orientation: Before the deadline announced by the EDD, the learner must apply for the Programme. Attend the orientation session on the date and time specified by.

10 July 2024 Economic Development Department 1 min read

Article

International Sanctions 2023

The Ministry of Legal Affairs Financial Sanctions Implementation Unit (FSIU) provides important and current information related to sanctions to assist you with Bermuda’s Sanctions Regime compliance. Every effort is made to ensure that this information is current but in order to ensure compliance with the most up-to-date sanctions measures, you are encouraged to refer directly to the relevant and Bermuda laws and to seek legal advice where necessary. As a way of providing information about the...

15 January 2024 Financial Sanctions Implementation Unit 7 min read

Article

Bermuda Corporate Income Tax

The Government of Bermuda introduced Corporate Income Tax with effect from 1 January 2025 and established the Corporate Income Tax Agency to administer all aspects of the tax. Effective 13 March 2026, the Corporate Income Tax Agency was designated as the Competent Authority responsible for the administration of the Common Reporting Standard and Country-by-Country Reporting. Accordingly, with effect from 22 June 2026, all content previously located at Common Reporting Standard Country Country...

15 November 2023 Finance 1 min read

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