Bermuda is a world-renowned centre for international
business. More than ten thousand international exempted companies
are registered in Bermuda, including many ship-owning companies
such as Princess Cruise Lines, Norwegian Cruise Lines Holdings,
Frontline, Golar LNG, GasLog and Golden Ocean Group.
"Exempted" companies may be owned wholly or in part by
non-Bermudians, and are restricted to carrying on business from
Bermuda in connection with transactions and activities outside the
island. Their formation and operation are governed by the Companies
Act 1981.
Incorporation process
An application to incorporate an exempted company must be
submitted for approval to the Bermuda Monetary Authority (BMA),
together with a declaration confirming the financial standing and
integrity of the proposed ultimate beneficial owner/s of the
company. If the BMA is satisfied, a consent to incorporate will be
issued, and the company's Memorandum of Association may then be
filed with
