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Home > Offshore Jurisdictions > Bermuda
Offshore Company Formation BermudaGeneral Information about Bermuda The British Colony of Bermuda consists of a group of about 138 coral islands in the North Atlantic Ocean, east of the U.S. State of South Carolina, at latitude 32 deg. N 64 deg W approximately. The land area is 53 sq. km. and the population about 66,000. The capital is Hamilton. The currency is the Bermuda dollar, which is at par with the U.S. dollar. Bermuda has the highest per capita income in the world. The principal industries are financial services and tourism. It is a popular centre for the formation of captive insurance companies. Bermuda companies and taxation The principal legislation governing the formation and management of companies is the Companies' Act 1981. The Act was brought up to date with the passing of the Companies' Act 2006. The company used for international operations is called an exempt company and is exempt from the requirement that it be 60% owned by Bermuda residents. It is not permitted to engage in onshore activities. Bermuda levies no income or capital gains taxes.
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