An entity formed outside Bermuda needs a permit, not a license, because Bermuda is permitting a foreign entity to operate here rather than lifting a restriction on one of its own.
Before you apply: the advertisement
| Overseas company | Within three months prior to the application, advertise in an appointed newspaper, specifying the company name and the trade or business proposed |
| Overseas partnership | Within three months prior, advertise specifying the partnership name, the names of all general partners, the law governing the partnership, and the general nature of the business |
How to apply
- Advertise, as above.
- Apply to the Minister. An overseas company applies under section 134 of the Companies Act 1981 on Form 15, with the documents and particulars required and the prescribed fee. An overseas partnership applies under the Overseas Partnerships Act 1995, with a certificate signed by the partners containing the name, the general partners and their addresses, the resident representative, the registered office in Bermuda and the governing law.
- File your beneficial ownership information with us. The minimum required information must be filed on an application for permission to carry on business.
- Receive your permit. An overseas company permit is issued on Form 15a. An overseas partnership permit is issued under section 7 and states the Minister's approval of the general partners and the general nature of the business.
Overseas entities came into the beneficial ownership regime on 3 November 2025
Permit companies and overseas partnerships were previously outside Bermuda's beneficial ownership requirements on the basis that they were not incorporated here. That is no longer the position.
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Filing with the Registrar and keeping it current →
How the Minister decides
- the economic situation in Bermuda and the due protection of persons already engaged in business here
- the nature and previous conduct of the entity and of those having an interest in it
- any advantage or disadvantage that may result
The Minister need not give reasons for a refusal. For an overseas partnership the decision is not subject to appeal or review in any court.
A Bermuda entity is preferred where one would do
A permit will not normally be recommended where a Bermuda exempted company or exempted partnership could be formed to carry on the business proposed. Continuance into Bermuda is the other route.
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Conditions, alteration and revocation
For overseas companies, the Companies Act 1981 deals with conditions at section 136, principal representatives at 136A, the form and proof of a permit at 137, alteration of conditions at 138, revocation and the revocation procedure at 139 and 140, appeals to the Supreme Court at 141, the register of permit companies at 142, restrictions on activities at 143, records at 145 and investigation of affairs at 146.
For overseas partnerships, the Overseas Partnerships Act 1995 deals with conditions at section 8, registration of the permit at 9, the register of overseas partnerships at 10, restrictions on activities at 11, the registered office at 12, the resident representative and their duties at 13 and 14, records at 15, and revocation, procedure and appeals at 18 to 20.