Bermuda stands out as an attractive jurisdiction for company formation, thanks to its established legal framework, favorable regulatory environment, and international reputation for business-friendly policies. This article provides a detailed breakdown of the average costs involved in setting up and maintaining a Limited Liability Company (LLC) in Bermuda as of 2025, based solely on official government and industry data.
Company Formation Costs in Bermuda (2025)
Forming a Limited Liability Company (LLC) in Bermuda involves several key expenses, both one-time and recurring. Below is a thorough breakdown of the average costs required to establish an LLC in Bermuda in 2025.
| Item | Amount (BMD) |
|---|---|
| Minimum capital requirement | $0 |
| Company registration fee (Government fee) | $294 |
| Annual government fee (first year, paid at incorporation) | $295 |
| Name reservation fee | $25 |
| Registered office fee (first year, average) | $1,000 |
| Legal/Professional service provider fee (average) | $1,000 |
| Notary/Document certification (average) | $61 |
| Total Approximate Initial Cost | $2,675 |
There is no statutory minimum capital requirement. The largest costs are typically the registered office and legal/professional service provider fee, which collectively account for roughly 75% of total initial expenses.
Ongoing Annual Maintenance Costs
Once the company is established, annual costs primarily relate to government compliance, office services, and professional support. The following table summarizes these typical maintenance expenses:
| Item | Amount (BMD) |
|---|---|
| Annual government fee | $295 |
| Registered office fee (annual, average) | $1,000 |
| Professional/Corporate service provider (annual, average) | $1,000 |
| Accounting and tax filing (annual, average) | $1,200 |
The total annual maintenance cost typically ranges from $1,295 to $3,500 BMD, depending on the complexity of your corporate structure and the level of professional support required.
Key Sources for Cost Data
Summary of Typical Costs
The tables above give a clear picture of the main financial components involved in forming and running an LLC in Bermuda:
- Setup Costs: Approximately $2,675 BMD (about $2,675 USD at 1:1 exchange).
- Annual Maintenance: $1,295 – $3,500 BMD.
- No minimum capital requirement is mandated.
- Professional and legal services comprise the bulk of the initial setup and ongoing annual fees.
Pro Tips for Efficient Company Formation and Maintenance
- Obtain fixed-fee quotes from service providers to avoid unexpected legal or professional cost overruns.
- Choose a reputable registered office provider familiar with Bermuda’s compliance requirements to ensure smooth annual filings.
- Keep accurate records from incorporation onward to streamline annual accounting and tax responsibilities.
- Set up calendar reminders for government fee deadlines to avoid late fees or non-compliance.
Final Considerations
When planning your Bermuda company, the overall cost structure is both predictable and largely composed of fixed statutory fees. The absence of a minimum capital requirement simplifies initial entry, while regular annual costs are competitive for an international business center. Reliable budgeting and efficient provider selection will go a long way to keeping your Bermuda company management cost-effective and compliant in 2025 and beyond.