You file your minimum required information with us at the points the Act specifies, and you keep it current after that. In most cases you do not file it yourself: a licensed corporate service provider files on your behalf.
When you must file
- on registration
- on continuation into Bermuda
- on conversion
- on application for permission to carry on business
After that, you file changes to the information in such form as we require.
Who files for you
You must engage a corporate service provider licensed under the Corporate Service Provider Business Act 2012 to file your minimum required information with us. There are two sets of exceptions.
First, entities that do not need one. A local company or a local LLC that has not been granted a license to carry on business in Bermuda, and a local partnership, may file without engaging a licensed corporate service provider.
Second, other regulated filers. The duty does not apply for so long as your minimum required information is filed on your behalf by a licensed fund administration provider, a licensed insurance manager, a licensed or registered investment business provider, or a trustee carrying on trust business. The same applies where you are exempted from needing a license by the Corporate Service Provider Business Exemption Order 2015 and you are one of those licensed persons .
RELATED
The role of corporate service providers →
The thirty day update duty
Update your register as soon as practicable after you are notified of a change, and not later than thirty days after that. The information must be adequate, accurate and current.
The reasonable steps defense
There is a defense where you took all reasonable steps and exercised all due diligence. Keep records of what you did, because the defense depends on being able to show it.