Type of Company

Definition

Basic Information Required in BMA Submission

Commercial Trading

Engages in the business of buying and selling goods

1. Nature of goods involved.

2. Country of supply & destination.

Construction

Builds or fabricates buildings.

1. Brief details of any immediate construction plans. 

2. Information on the expertise of shareholders in this field.

Consultancy or Services

Provides consultancy or expertise in a particular field

1. The area of consultancy

2. Evidence that expertise is available.

Corporate Holding

To accumulate, own, invest and control assets, capital and other securities issued by other corporate entities.

General information on assets being transferred to the Company on formation, particularly any existing Bermuda exempted companies, including activities of subsidiaries.

Exploitation of Natural Resources

Engages in the exploration, processing and marketing of natural resources.

1.   The nature of the  particular resources concerned

2.   Details of expertise in proposed field of operation

Insurance

See Form 1B

Insurance Brokerage

Procures or negotiates insurance cover

Evidence that expertise is available  

Insurance  Management

Manages the day to day affairs of insurance company.

1. Whether or not the company will bring new business to Bermuda.

2. Whether the company will manage existing Bermuda companies.

Management of Mutual Funds or Unit Funds

Provides a day‑to‑day accounting or administrative service to mutual funds/unit trusts.  Does not raise or invest funds for own use.

Name of fund to be managed.

Mutual Funds

An investment company which raises money from the public by issuing redeemable shares, investing in shares, bonds, real estate, other securities and personal property.

1. Size of fund.

2. Details of proposed  investment programme, particularly diversification of investments.

3. Details on the related experience of promoters.

4. Name of local manager, custodian/transfer agent.

5. Draft prospectus to be provided.

6. Whether there is a minimum level of subscription.

Personal Investment Holding

Accumulates, owns, invests, and controls the assets of an individual or family

The nature of any specific assets which will be held on the formation of the company and any future plans.

Public Finance Vehicle

Engages in the making of Euro Dollar issues, or the like, or to raise funds for the group of which the company forms part.

1.   Details of any notes or other obligations the company proposes to issue.

2.   Will there be one issue, or a series on a continuing basis?

3.   Who will purchase the company's obligations, third parties or just members of the corporate group?

4.   Will the company lend to third parties or just group members?

Real Estate Holding or Development

A company owning real estate with a view to developing it, or holding it for investment purposes.

1. Where is the real estate located?

2. Any imminent development plans?  If so, give details.

Shipping

1. Ship owning.

2. Ship operating.

3. Ship financing

4. Ship building & maintenance

1. The exact function of the company.

2. The names of vessels to be owned/operated, and the present country of registry.

Trading in Commodities

Engages in the buying and selling of commodities, commodity options and commodity futures.

1. Type of commodities to be traded and whether physicals or futures.

2. Details of commodity expertise available to the company.

3. The related experience of promoters.