The information contained in this document is marketing material and for informational purposes only. The information contained in this document is presented without any warranty or representation as to its accuracy or completeness and all implied representations or warranties of any kind are hereby disclaimed. Recipients of this document, whether clients or otherwise, should not act or refrain from acting on the basis of any information included in this document without seeking appropriate professional advice. The provision of the information contained in this document does not establish any express or implied duty or obligation between Citco and any recipient and neither Citco nor any of its shareholders, members, directors, principals or personnel shall be responsible or liable for results arising from the use or reliance of the information contained in this document including, without limitation, any loss (whether direct, indirect, in contract, tort or otherwise) arising from any decision made or action taken by any party in reliance upon the information contained in this document. © The Citco Group Limited, December 2023.
Bermuda – New Regulatory fees to the Registrar of Companies
As of the 1st of January 2024, the Ministry of Finance and Government of Bermuda has implemented new regulatory fees for legal entities registered in Bermuda.
This change reflects the expansion of the scope of work of the Registrar of Companies in Bermuda (the Registrar) to include Economic Substance filings, AML/ATF compliance, maintenance of UBO registers and more.
As of 2024, the following regulatory fees will be applicable:
| Proposed Fee | Amount (BMD) |
|---|---|
| Annual Corporate Regulatory Fee – Local | 150.00 |
| Annual Corporate Regulatory Fee – Non local | 500.00 |
| Annual Partnership Regulatory Fee - Local | 150.00 |
| Annual Partnership Regulatory Fee – Non local | 500.00 |
| Filing fee for any document submitted pursuant to fulfilling a condition imposed by a Company’s Section 129A/11B license | 100.00 |
| Name reservations for companies and partnerships | 100.00 |