Insurance and reinsurance
Insurers, reinsurers and captives.
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Bermuda entities
Exempted companies, LLCs and segregated accounts companies in a British Overseas Territory that is one of the world’s principal insurance and reinsurance markets.
In shortCCYFX onboards Bermuda exempted companies, LLCs, segregated accounts companies and exempted partnerships, including insurance and fund vehicles. Typical documents include the certificate of incorporation, the memorandum of association and bye-laws, a certificate of compliance and BMA licensing, where regulated.
Overview
A leading insurance and reinsurance market
Bermuda is a self-governing British Overseas Territory with a legal system based on English common law. The Bermudian dollar is pegged at par to the US dollar, and US dollars circulate widely.
International businesses are usually formed as exempted companies, registered by the Registrar of Companies. The Bermuda Monetary Authority regulates insurers, funds and other financial businesses.
Common entities we onboard
Exempted company
The standard vehicle for international business, insurance and holding structures.
Limited liability company
A flexible vehicle used for funds and joint ventures.
Segregated accounts company
A company whose separate accounts keep assets and liabilities apart, used for insurance and funds.
Exempted partnership
Used for funds and investment structures.
Documents
What we ask Bermuda entities to provide
These are in addition to identification for directors and beneficial owners. Certificates should generally have been issued within the last three to six months.
Company
- Certificate of incorporation
- Memorandum of association and bye-laws
- Certificate of compliance from the Registrar of Companies
- Registers of directors and members
Insurers and funds
- BMA licence or registration, where regulated
- Details of the manager or insurance manager
- Segregated account details, where relevant
- Summary of the business plan or offering document
Ownership
- Ownership chart to individuals with 25% or more
- Board resolution naming signatories
- Purpose of the company
- Source of wealth of beneficial owners
Sectors
Typical Bermuda clients
This page is general information to help you prepare for onboarding. It is not legal or tax advice. Laws and registry practice in Bermuda change, so please confirm current requirements with your corporate service provider or legal adviser.
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Onboard your Bermuda entity
Apply online in about ten minutes. We will reply with the documents your structure requires and an indicative timeline for onboarding.