Bermuda is under British jurisdiction but has the right to self-governance, which has played a role in making the state the leading offshore zone on the world market.
Non-residents are attracted by the benefits resulting from the registration of a legal entity on the islands:
- a wide range of financial services;
- the possibility of cooperation with many reputable international organizations;
- favourable corporate legislation;
- subject to British law;
- high transparency of doing business;
- no currency control;
- significant tax preferences;
- obtaining confidentiality;
- quick registration;
- availability of own stock exchange;
- no requirements for keeping the financial records within the office walls;
- minimum list of activities for mandatory licensing;
- exemption from reporting;
- possibility of launching a remote registration procedure;
- allowance of nominee shareholders and directors;
- the right to deposit the share capital of 1 dollar.
All these advantages, along with the developed economy and infrastructure, make Bermuda the best place to start a company.