The Limited Liability Company Act 2016 mirrors the company license regime, with its own section numbers.
Local LLCs, section 12
A local LLC whose Bermudian control is below sixty per cent may apply for a license to carry on business in Bermuda. The application is made under section 12, and the granting and revocation of the license are dealt with in section 13.
As for a local company, advertise not less than seven days before applying, in an appointed newspaper. Section 14 provides for the fees payable by a licensed local LLC.
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Exempted LLCs, section 25
Section 24 restricts what an exempted LLC may do in Bermuda, on the same pattern as section 129 for exempted companies. Section 25 provides for a Ministerial license to carry on business here.
Ministerial exemption under section 11(7)
An exemption is not a license
Under section 11(7) the Minister may by order exempt a local LLC from the sixty per cent requirements altogether. That is a different instrument from a license under sections 12 and 13, and there is no company equivalent.
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Fees
| Application fee | to confirm |
| Annual license fee | to confirm |