A local company whose Bermudian control is below sixty per cent may apply to the Minister for a license to carry on business in Bermuda notwithstanding that fact.
Before you apply: the advertisement
Not less than seven days before applying, advertise your intention to apply in an appointed newspaper. We publish the list of appointed newspapers in the Gazette.
How to apply
Application is made to the Minister under section 114A of the Companies Act 1981. The license, if granted, is granted under section 114B.
Two sections, two steps
It is common to see both described as the section 114A license. The application is section 114A, and the grant is section 114B.
How the Minister decides
The Minister may grant or refuse in his discretion, and if of the opinion that a grant would not be in the public interest may refuse without giving reasons. In deciding, he must have regard to:
- the economic situation in Bermuda and the due protection of persons already engaged in business here
- the nature and previous conduct of the company and of those having an interest in it
- any advantage or disadvantage that may result
- the desirability of retaining in the control of Bermudians the economic resources of Bermuda
Terms, conditions and revocation
A license may be granted subject to terms and conditions, and may be revoked. The Minister lodges a copy of every license with us, and it forms part of what a search of the register returns.
RELATED
Fees
| Application fee | to confirm |
| Annual license fee | to confirm |