1. |
Bermuda Exempted Company Incorporation Fees and Disbursements | |||||||||||||||||||||||||
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(1) |
Incorporation Service Fees | ||||||||||||||||||||||||
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Our fees for handling the registration of an exempted company with standard authorised capital of no more than USD12,000 and with standard Memorandum of Association are USD19,000. Our fees cover the following services in particular: (a) Statutory government registration fee (b) First year service fee for providing a resident representative (c) First year service fee for providing registered office (d) First year service fee for registered agent (e) Our service fees (f) Disbursements Note: (i) If there are more than two shareholders or/and two directors, an extra service fee of USD200 will be charged for each additional shareholder/director. (ii) Company with a capital of more than USD12,000 will be subject to higher official filing fee; extra service fees will be charged for tailor-made Memorandum and Articles of Association. (iii) Our service fee quoted above does not cover courier charge. (iv) Different from other offshore companies, Bermuda exempted companies must appoint a local individual resident or local company as a representative to maintain company documents, update internal records, and submit relevant documents to the Registrar of Companies. |
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(2) | Incorporation Related Service Fees | ||||||||||||||||||||||||
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2. |
Time of Billing and Payment Methods |
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Upon receipt of your confirmation of engagement, we will issue and send an invoice together with the wiring instructions to you for your settlement. When you arrange the payment, please put our invoice number of account number in the message section and then send email a copy of the remittance receipt to us for our records. Because of the nature of service, we require full payment in advance. And once the service is commenced, no refund of service fee will be made. We accept cash, HKD check, TT and credit card through Paypal. An extra handling fee of 5% will be charged if paid by Paypal. |
3. | Basic Structure of a Bermuda Exempted Company |
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The minimum requirements of a Bermuda Exempted Company are as follows:
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4. |
Materials Required for Incorporation | |
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At the time of confirmation of order, client should scan and email the following materials to us for preliminary review and then deliver the original copy to us: | |
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(1) |
Incorporation Order Form (to be provided by Kaizen) |
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(2) |
Due diligence documents for each director, shareholder and ultimate beneficial owner (a) Individual
(b) Corporation
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(3) |
KYC Questionnaire |
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The identification documents of the shareholders and directors listed above must be certified by Kaizen or a lawyer or an accountant or an attesting officer. If any of the documents is not in English, an English translated copy should be provided. |
5. |
Time Frame to Incorporate | |||||||||||||||||||||||||||||||||
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The registration of an Exempted Company in Bermuda normally takes anywhere from 12 to 15 working days in a smooth case. The following table shows the time required for each of the steps:
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6. |
Registration Documents Returned to Client after Registration | |||||||||||||||||||||||||||||||||
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After the company is officially registered, Kaizen will return the following documents and materials for client’s retention: (1) Printed copy of Electronic Certificate of Incorporation; (2) 3 printed copies of Memorandum of Association; (3) 10 copies of blank share certificate; (4) Register of Members and Register of Directors (5) Common Seal and company chop (6) Minutes for the appointment of first director(s) |
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7. |
Annual Fees for Second and Subsequent Years | |||||||||||||||||||||||||||||||||
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The annual maintenance costs for the second and subsequent years of a standard Bermuda exempted company (share capital no more than USD12,000.) are USD 12,300. The annual maintenance costs include annual license fees, resident representative service fee, annual registered office and registered agent fee. Annual renewal fees are due for payment before 31 December every year. In addition to the abovementioned annual maintenance fees, the Economic Substance Act and Economic Substance Regulations came into effect in 2018 requires legal entities to report and file relevant information about the business annually. For the company conducting business activity in the scope of Relevant Activities, it requires to demonstrate a degree of economic substance within the Bermuda in order to prevent profit shifting. Services fee USD500 will be charged for data collection, uploading and submission of information for classification. If the company conducts business activity in the scope of Relevant Activities, the company requires to file Economic Substance Report annually. The extra reporting fee will be depended on the type of Relevant Activities. |