Licensing

Who we are

The Licensing Section of the Registrar of Companies facilitates applications from certain companies that need permission to carry on business in Bermuda.

The type of license or permit required depends on whether the company is:

1. a local company;
2. an exempted company; or
3. a company incorporated outside Bermuda.

The Licensing Section also processes applications to renew, amend or otherwise update existing licenses and permits, where required.

What we do

The Licensing Section processes applications under the Companies Act 1981 for:

1. section 114B licenses for local companies;
2. section 129A licenses for exempted companies; and
3. section 134 permits for companies incorporated outside Bermuda.

The Licensing Section also processes applications relating to existing licenses and permits, including renewals, amendments and other changes that require approval.

Section 114B license – local companies

A local company can generally carry on business in Bermuda without a license if it meets the requirements that apply to local companies under the Companies Act 1981.

For most local companies, these requirements relate to Bermudian ownership, voting rights and directors.

If a local company does not meet the requirements that allow it to carry on business without a license, it may apply for a section 114B license. A section 114B license allows the company to carry on the business approved under the license.

If you later want to change the business covered by your license, or make another change that requires approval, you may need to file an amendment application.

For more information about the requirements that apply to local companies, see [Local Companies].

Relevant legislation: sections 114, 114A and 114B and the Third Schedule to the Companies Act 1981.

Section 129A license – exempted companies

An exempted company is generally a Bermuda company formed to carry on business outside Bermuda.

An exempted company does not always need a license simply because it carries out an activity in Bermuda. The Companies Act allows an exempted company to carry out certain activities in Bermuda without a section 129A license.

For example, an exempted company may generally carry on business with persons outside Bermuda, obtain goods or services in Bermuda for its overseas business, and carry out certain other activities allowed under section 129.

If an exempted company wants to carry on a business or activity in Bermuda that is not already allowed under section 129, it may need to apply for a section 129A license. A section 129A license allows the company to carry on the business or activity approved under the license.

If you later want to change the business covered by your license, or make another change that requires approval, you may need to file an amendment application.

For more information about what an exempted company may do in Bermuda without a license, see [Exempted Companies].

Relevant legislation: sections 129 and 129A of the Companies Act 1981.

Section 134 permit – companies incorporated outside Bermuda

A company incorporated outside Bermuda that wants to carry on business in or from Bermuda will generally need a permit.

A company incorporated outside Bermuda may apply for a section 134 permit. Once a permit is granted, the company is registered in Bermuda as a permit company and may carry on the business approved under the permit.

If you later want to change the business covered by your permit, or make another change that requires approval, you may need to file an amendment application.

There are some activities that may not, on their own, amount to carrying on business in Bermuda. More information can be found under [Permit Companies].

Relevant legislation: sections 133 and 134 of the Companies Act 1981.

Renewals, amendments and other changes

Existing licenses and permits may need to be renewed or amended, depending on the type of approval and the change being made.

This may include changes to:

1. the business or activities the company is authorised to carry on;
2. conditions attached to the license or permit;
3. the period for which the license or permit is valid; or
4. other information that requires approval under the Companies Act.

Select the appropriate renewal or amendment option and provide the information and supporting documents requested.

How We Do It

Applications are submitted online through the Registrar of Companies website. Applicants will be guided to the appropriate application and asked to provide the required information and supporting documents.

The Licensing Section reviews each application to make sure the required information and documents have been provided.

If anything is missing or further information is needed, we will contact the applicant or their service provider.

Once the application is complete, it undergoes the required approval process.