Bermuda Compliance Guide
Filing requirements, deadlines, and fees for Bermuda business entities.
Filing Obligations
Annual Government Fee
AnnualBermuda exempted companies must pay an annual government fee based on their assessable capital. Bermuda has no corporate income tax, capital gains tax, or withholding tax.
31 March each year
BMD 1,995 (assessable capital up to $12,000) to BMD 31,120 (assessable capital over $500 million). Most exempted companies: BMD 1,995–$6,145.
10% surcharge if paid after 31 March but by 30 June. 20% surcharge after 30 June. Company may be struck off.
Online via the Registrar of Companies portal or through a registered representative
Annual Return / Statutory Declaration
AnnualExempted companies must file a statutory declaration confirming that the company has conducted its business in compliance with the Companies Act 1981 and that it has not acquired any interest in real property in Bermuda.
31 January each year (statutory declaration); annual return with the fee by 31 March
Included in government fee
Penalties for late or non-filing. Company may be struck off.
Through the company's registered representative
Economic Substance Declaration
AnnualBermuda entities carrying on relevant activities (banking, insurance, fund management, financing, leasing, headquarters, shipping, distribution, holding, or IP business) must file an annual economic substance declaration demonstrating adequate substance in Bermuda.
Within 6 months of the end of the financial year
No filing fee
BMD 5,000 penalty for first offence; BMD 10,000 for second offence. Entity may be struck off.
Online via the Bermuda Economic Substance Filing Portal
Key Dates
Frequently Asked Questions
Does Bermuda have corporate income tax?
No. Bermuda does not levy corporate income tax, capital gains tax, or withholding tax. Companies pay an annual government fee based on assessable capital. Bermuda has committed to not introducing income tax before 2035.
What is a Bermuda exempted company?
An exempted company is the standard vehicle for international business in Bermuda. It is 'exempted' from the requirement for 60% Bermudian ownership and may not trade in Bermuda or own Bermuda real property (with limited exceptions). Most international holding companies, reinsurers, and funds use this structure.
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Get Started FreeLast updated: 2026-02-27. Information is provided for general guidance and may not reflect the most recent changes. Always verify with the official state registrar.