Company Law
- Two types of company can be incorporated in Bermuda:
- a local company, which is owned 60% or more by Bermudians; and
- an exempt company, which is owned chiefly by non-Bermudians
- As a matter of broad principle (to which there are many exceptions):
- only a local company may trade in Bermuda (there is a similar restriction on foreign companies, and on non-Bermudian sole traders and partnerships);
- only local companies are expected to contribute to the local economy through taxation.
- exempt companies may have a physical presence in, and employ staff in, Bermuda.
Read more about this topic: Law Of Bermuda
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