What are the types of companies in Bermuda?

The types of companies that can be established in Bermuda are as follows:

1. Bermuda Company (Exempt Company): It is the most common type of company and is generally preferred by foreign companies. There is no minimum capital requirement for incorporation and the company's operations generally take place outside Bermuda. Such companies are established for the purpose of not doing business in Bermuda and benefiting from tax benefits.

2. Bermuda Company (Local Company): These are companies established to operate in Bermuda and participate in local affairs. They have minimum capital requirements for incorporation and must comply with local regulations.

3. Bermuda Company (Permit Company): These are companies established to operate in Bermuda for a limited period of time. They are often used for temporary activities such as construction projects or special events.

4. Bermuda Company (Segregated Accounts Company): These types of companies are companies that have separate accounts for different assets or projects. In this way, an asset or project is managed and protected independently of others.

5. Bermuda Company (Limited Liability Company - LLC): LLCs established in Bermuda are types of companies in which members have limited liability and provide flexibility among partners. Such companies can engage in commercial activities as well as be used for investment or asset management purposes. The company types on this list are the most common in Bermuda, but other company types may also exist. To get more detailed information about company establishment, it is recommended that you get support from a professional who provides local regulations and legal consultancy services.