Bermuda Incorporations
Share Capital Requirements
The Memorandum of Association must specify the authorised share capital of the company. The minimum share capital of an exempted company is US$12,000; of an insurance company is US$120,000; or of a mutual fund is US$1 (or an equivalent amount in another currency). The authorised share capital may subsequently be increased by resolution of the company in general meeting. Shares of no par value and bearer shares are not permitted
Shares of no par value and bearer shares are not permitted.
The Annual Government Fee is determined by the authorised share capital of the company in increasing increments. As at the 31st January, 2005 those fees were as follows:
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Where the assessable capital of the exempted company— |
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| (i) | is $0 - $12,000 |
$1,780 |
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| (ii) | is $12,001 - $120,000 |
$3,635.00 |
|
| (iii) | is $120,001 - $1,200,000 | $5,610.00 | |
| (iv) | is $1,200,001 - $12,000,000 |
$7,475.00 |
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| (v) | is $12,000,001-$100,000,000 | $9,345.00 | |
| (vi) | is $100,000,001-$500,000,000 | $16,695.00 | |
| (vii) | is $500,000,001 or more | $27,825.00 | |