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About Bermuda........Our World Tax Haven Directory
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Ascot Advisory Services
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Panama, Republic of Panama
Santo Domingo, Dominican Republic
Telephone Direct Dial USA  809 - 334 - 5387   or   809 - 756 - 1917
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Quick Facts About Bermuda........
English Common Law:
Exchange Controls:
Political Stability:
       Offshore Bank Accts:
Company Formation:
Offshore Co. Taxation:
Minimum Directors:
Minimum Shareowners:
Company Directors:
Secretary Required:
Bearer Shares Allowed:
 YES
NO
GOOD
NO
Exmpt
NONE
ONE
Three
NO
NO
NO
Registered Office:
Directors Disclosed:
Underlying Client Disclosed:
Tax Treaties:
Local Meetings:
Owned By Trust:
Change of Domicile:
Shelf Companies:
 YES
YES
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YES
* NO
NO
YES
YES
NO
* Bermuda does not have BANKING CONFIDENTIALITY codified into law, but they claim no information will be divulged for issues concerning tax evasion.  However, Bermuda has signed a treaty with the US allowing for an exchange of information for matters concerning tax fraud and money laundering. 
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For some additional information about this, and other tax haven jurisdictions which have altered internal policy under political pressure Click Below:
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News Article Link
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The appeal about Bermuda for some is its proximity to the United States, and the fact that it is an English speaking jurisdiction.  To be sure, a high level of support services and modern banking does exist inside the country.  Infrastructure and technical support services, such as Internet related services, are very good.  Tax neutrality also exists, as does freedom from exchange controls for non-residents or exempt companies
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While not having some of the same IBC type of legislation that exits in other common law jurisdictions, Bermuda does permit what is known as an “exempt” company.  Such a company enjoys exception from the requirement that 60% of the company owners be Bermuda citizens, and enjoys certain taxation benefits providing the company does not maintain any accounts in the local currency, the Bermuda Dollar, or conduct trade or business inside of the country.
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The existence of a so-called “exempt” company came about from “The Companies Amendment Act” of 1996.  Currently there are over 11,000 exempt companies registered in Bermuda today.  The legislation concerning an exempt company does state that a minimum of two local residents must act as directors, be it a combination of President & Secretary, or some other combination.  Incorporation fees for such a company tend to be higher than what you might find in a jurisdiction that permits an IBC.  In addition, there is no confidentiality of the underlying client forming the company, nor is there any formal banking secrecy that may exist elsewhere as well.
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Bermuda does offer well-regulated banking and investment environment, and Bermuda is a favored jurisdiction for many insurance or mutual fund companies.  Growth in this sector has tripled in the past few years, making Bermuda more of an “insurance” or “investment” jurisdiction than anything else.
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For more information about comparing a "common law" jurisdiction to a "civil law" jurisdiction when forming a company, please CLICK HERE. 
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