Bermuda Crypto License

Bermuda enjoys global esteem for its commitment to compliance and transparency, bolstered by a track record of leadership. Across its tenure as an international financial center, Bermuda has excelled in attracting high-caliber businesses. The island stands as a prominent global business hub, encompassing a diverse array of markets, including Re/Insurance, Captive Insurance, Life and Annuity Insurance, Insurance-Linked Securities, Asset Management, Trusts, Private Client vehicles, Family Offices, as well as key sectors like Shipping and Aviation registries. Moreover, emerging industries such as Fintech, Insurtech, Cryptocurrencies, and Digital Assets businesses are gaining traction.

Furthermore, Bermuda is renowned as a tax-neutral jurisdiction, devoid of corporate income, withholding, or capital gains taxes. However, its taxation model follows a consumption-based system, involving payroll tax, import duties, social insurance, and custom duties on goods and services. It’s noteworthy that recent legislation, the Corporate Income Tax Act 2023, mandates that Bermuda multinational entities earning an annual revenue of $750 million or more will be subject to a 15% corporate income tax starting January 1, 2025.

DABA governs various “digital asset business” activities when performed by any entity within Bermuda:

  • Issuing, selling, or redeeming virtual coins, tokens, or any digital asset form.
  • Operating payment service provider businesses using digital assets.
  • Running electronic exchanges facilitating the exchange of digital assets for cash or other digital assets.
  • Offering digital asset custodial wallet services.
  • Providing services as digital asset service vendors.

Crypto license in Bermuda


29,900 EUR
  • The establishment of a company or the purchase of one that is already established
  • Preparation of legal documents for companies
  • An analysis of the Cryptocurrency Company’s business model and structure
  • Submission of notifications to the Bermuda Monetary Authority
  • Fees for registering a company with the government
  • License fees for government-issued cryptography
  • Tax Assurance fee
  • Corporate Equipment
  • Five hours of general counselling

Benefits of a Bermuda Digital Asset Business License

Bermuda Crypto License

The daily trading volume of Bitcoin alone surpasses $20 billion on average. By obtaining a cryptocurrency license in Bermuda, you can swiftly enter this lucrative market within a mere three months, thanks to a streamlined and cost-effective process. With the global acceptance of cryptocurrency on the rise, cryptocurrency exchanges amassed over $1 billion in profits last year alone. As regulations surrounding cryptocurrency become more intricate in prominent economic powers like the United States and European Union, Bermuda emerges as a risk-free and cost-effective alternative for launching a licensed cryptocurrency exchange or broker-dealer.

Bermuda’s legal framework is rooted in the common law of England and Wales, as it operates under the governance of a Westminster-style government as a British Overseas Territory. The judicial system comprises the Court of Appeal, Supreme Court, Magistrates’ Court, various tribunals, with the Privy Council in England serving as the final appellate authority for most cases.

Regarding business entities, exempted companies are prevalent, especially for foreign shareholders. Opting for an exempted company structure allows foreign businesses to operate from Bermuda, albeit with restrictions, unless granted a special license by the Minister of Finance. Exempted companies can obtain certification exempting them from certain taxes under the Exempt Undertakings Tax Protection Act 1966, though they must adhere to new corporate income tax regulations if applicable.

Bermuda’s commitment to transparency is underscored by its proactive participation in international initiatives like the OECD’s Common Reporting Standard and Country-by-Country Reporting Requirements.










Hamilton 63,867 Bermuda Dollar 114,090 USD

Digital Asset Business

For BdaCo to engage in VASP activities, it must obtain a license under the Digital Asset Business Act, 2018 (“DABA”) and adhere to the minimum licensing criteria outlined in Schedule 1 of DABA.

Attached hereto are BMA documents detailing (1) the application process for registration, (2) the code of conduct for compliance, and (3) the statement of principles for your reference. BdaCo must establish a physical head office on the island and appoint a senior representative to report significant events to the Bermuda Monetary Authority (“BMA”). While BdaCo can outsource most compliance functions, it retains ultimate responsibility.

Presently, the BMA offers three types of digital asset business licenses:

  • Class F (Full) License;
  • Class M (Modified) License; and
  • Class T (Test) License.

Businesses operating under a digital asset business license are exempt from capital requirements. However, license holders must submit a minimum net assets evaluation during the application process, reflecting risks such as operational, credit, and market risks, with residual risks subject to net assets or other safeguards.

According to the Digital Asset Business Act 2018, minimum net assets should not fall below:

  • $100,000 for Class M and F licensees
  • $10,000 for Class T licensees

The BMA reserves the right to request additional capital based on the nature, scale, and complexity of the licensee’s operations.


Incorporation of BdaCo: After submitting the incorporation application to the BMA and ROC, incorporation typically takes 1-2 weeks.

Application for DABA License: Once all required documents are submitted to the BMA and any queries are resolved, the Assessment and Licensing Committee of the BMA processes the application within 4-5 weeks. Adequate time should be allocated for preparing all necessary documents and policies for submission to the BMA.

General Information

Company Structure

  1. Requires at least 1 shareholder.
  2. Mandates a minimum of 2 directors, overseen by an appropriate number of non-executive directors as deemed fit by the BMA based on factors like the licensed undertaking’s nature, size, complexity, and risk profile.
  3. Necessitates a senior representative approved by the BMA, responsible for reporting obligations to the BMA and maintaining an office in Bermuda.


  • Exempts from corporate income tax, personal income tax, VAT, withholding tax on dividends/interest/royalties.
  • Imposes no capital gains tax for both corporate and individual entities.
  • Does not levy net wealth/worth tax.

Accounting & Audit Requirements

Licensees must:

  1. Prepare annual audited financial statements or accounts covering all transactions and balances related to their business.
  2. Provide the BMA with audited financial statements and an auditor’s report within four months after the close of the financial year.
  3. Obtain BMA approval for appointing a local auditor by submitting particulars of the auditor in writing.


  • Requires a local corporate services provider/secretary with access to the company’s books and records.

Registered Office

  • Mandates a head office in Bermuda, from which the licensee’s digital asset business is directed and managed, including the presence of senior executives, board meetings, and operational decision-making.

Cybersecurity Program and Cybersecurity Report

Licensees must:

  • Demonstrate a comprehensive cybersecurity program tailored to the business’s nature, scale, and complexity, including an annually reviewed written cybersecurity policy.
  • Conduct an annual external audit of the cybersecurity program.
  • Submit an annual prudential return and cybersecurity report to the BMA within four months after the financial year ends.

Fulfillment of Minimum Criteria

  • Requires “controllers” (e.g., managing directors, CEOs, shareholder controllers owning or controlling over 10%, shadow directors) to be deemed “fit and proper.”
  • Mandates prudent business conduct, including compliance with DABA provisions, AML/ATF requirements, BMA-issued Codes of Practice, and international sanctions measures.
  • Imposes a minimum net assets requirement of $100,000 or as directed by the BMA based on the licensed undertaking’s nature, size, and complexity.
  • Demands appropriate insurance coverage or other approved risk mitigation measures.
  • Requires maintenance of adequate accounting records, control systems, policies, procedures, and corporate governance policies.
  • Mandates effective direction of the licensed undertaking by at least two directors, overseen by an appropriate number of non-executive directors based on the licensed undertaking’s characteristics.
  • Ensures that the licensed undertaking’s position within its group structure facilitates effective consolidated supervision.

Initial Coin Offerings

The enactment of the Companies and Limited Liability Company (Initial Coin Offering) Amendment Act 2018 (ICO Act) on July 9, 2018, ushered in a regulatory framework for Initial Coin Offerings (ICOs) conducted in or from Bermuda. According to the ICO Act, no entity is allowed to conduct an ICO within Bermuda unless registered as a company with the Registrar of Companies. Furthermore, ICOs are classified as a “restricted activity,” necessitating Bermuda companies to seek consent from the Minister before launching one within Bermuda.

The ICO Act adopts the same definition of digital assets as outlined in the Digital Asset Business Act mentioned earlier. The Fintech Advisory Committee evaluates each application and forwards recommendations to the Minister regarding approval. Applicants are required to furnish comprehensive details regarding product or service development, anticipated completion timelines, as well as information concerning rights, functionalities, features, and transferability.

To ensure compliance with anti-money laundering laws, ICOs must verify and retain the identity of token or coin purchasers. Upon Ministerial approval, the ICO is mandated to publish an “offer document” and submit it to the Registrar of Companies. This document must encompass particulars such as the business or proposed business, project details, rights and restrictions related to digital assets, alongside cautionary language concerning investment risks associated with ICOs. This warning must be prominently displayed in both the offer document and on the ICO platform during the offering period or suspension, detailing:

(a) Known or reasonably foreseeable substantial risks to the project.

(b) Options available to individuals if the subject project of the ICO does not proceed.

(c) Description of any rights associated with the digital assets offered.

(d) Disclaimers regarding guarantees or warranties concerning the project’s development or any other assets associated with the ICO.

The ICO Act delineates two distinct regulatory regimes based on the type of assets issued. ICOs primarily conducted for crowdfunding purposes are governed by the Companies Act 1981, the Limited Liability Company Act, and the Register of Companies. ICOs involving virtual currencies or digital assets fall under the purview of the Digital Asset Business Act 2018 and are supervised by the Bermuda Monetary Authority.

Anti-Money Laundering Regulations

The Digital Asset Business Act has expanded Bermuda’s anti-money laundering (AML) laws to encompass businesses licensed to engage in digital asset activities within the framework of regulated financial institutions under the Proceeds of Crime Act 1997 (POCA Act), the Anti-Terrorism (Financial and Other Measures) Act 2004, and the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing) Regulations 2008. Consequently, these laws’ obligations are applicable to entities licensed under the Digital Asset Business Act. AML procedures and policies must be integrated into the license application process under the Digital Asset Business Act, and any foreign branches or subsidiaries must also adhere to Bermuda’s AML laws. Furthermore, the Digital Asset Business Act mandates that licensed entities operate prudently, including compliance with Bermuda’s AML legislation.

Senior management of digital asset businesses is required to:

  • Ensure adherence to the Acts and Regulations.
  • Identify, assess, and mitigate money laundering/terrorist financing risks within the organization’s customers, products, services, transactions, delivery channels, outsourcing arrangements, and geographic connections.
  • Conduct AML and sanctions risk assessments, updating findings regularly.
  • Appoint a Compliance Officer at the senior management level to oversee the establishment, maintenance, and effectiveness of AML/ATF policies, procedures, and controls.
  • Appoint a Reporting Officer to handle client disclosures.
  • Screen employees rigorously.
  • Ensure sufficient resources are allocated and periodically trained on AML/ATF policies, procedures, and controls.
  • Regularly audit and test AML/ATF policies, procedures, and controls, addressing any identified issues promptly and adequately.
  • Acknowledge potential personal liability for non-compliance with legal obligations.

Failure to comply with Bermuda’s AML laws can lead to significant penalties. Non-compliance with POCA Regulations constitutes a criminal offense, punishable by up to two years imprisonment and/or a fine of up to US$750,000. The Bermuda Monetary Authority may levy financial penalties of up to US$10 million for each instance of non-compliance with regulations, in addition to imposing restrictions on issued licenses and other disciplinary actions.

If you want to get a crypto license in Bermuda, our team of experienced and dedicated lawyers will be happy to assist you in this process. We are well prepared to offer company creation and crypto licensing services as well as to consult you on taxation matters.

Crypto Coinbase secures Bermuda licence

Coinbase, one of the leading platforms for trading cryptocurrencies and other digital assets, recently achieved a significant milestone by securing a licence to operate in Bermuda. This development not only highlights Coinbase’s strengthening position in the global digital finance market, but also reflects the growing recognition by regulators of the importance of cryptocurrencies and blockchain technology

Path to Licence: An Important Step for Coinbase

Obtaining a licence in Bermuda is the result of a lengthy and thorough process that included rigorous vetting by local regulators. For Coinbase, it was an opportunity to demonstrate its commitment to high standards of security, transparency and customer protection, which in turn builds user and investor confidence in the platform. Licensing in a jurisdiction such as Bermuda, known for its favourable attitude towards financial innovation, also allows Coinbase to expand its geographical reach and offer its services to a wider range of customers.

Bermuda: New Centre for Cryptoinnovation

For Bermuda, attracting a major player like Coinbase is a significant achievement in its quest to become a global centre for blockchain and cryptocurrency innovation. Bermuda is actively working to create an attractive regulatory and tax climate for cryptocurrency companies in an effort to attract investors and startups from this field. The licence granted to Coinbase confirms the effectiveness of these efforts and could signal to other major market players that Bermuda is open for business and innovation.

Impact on the Cryptocurrency Industry

For the global cryptocurrency industry, Coinbase’s move is an important moment indicative of the ongoing process of legalisation and integration of cryptocurrencies into traditional financial systems. Developments such as a major player obtaining a licence help improve the overall perception of cryptocurrencies and may encourage the adoption of appropriate regulation in other countries. It can also stimulate innovation and competition in the industry as companies strive to meet and even exceed established standards in order to attract customers and expand their market presence.

Future Prospects and Possible Challenges

Obtaining a licence in Bermuda opens up new opportunities for Coinbase to develop and expand. However, along with new opportunities come new challenges. In particular, the company will have to adapt to the specifics of local regulation and governance, which may require additional effort and resources. In addition, as the cryptocurrency market continues to evolve and become more saturated, Coinbase will need to constantly innovate and improve its services to remain at the forefront of the industry.

Impact on Regulation and Global Markets

Coinbase’s obtaining a licence in Bermuda also raises questions about the future regulation of cryptocurrencies internationally. This development may contribute to the development of more harmonised approaches to the regulation of cryptocurrencies and blockchain technologies, which in turn will facilitate international transactions and cooperation in this area. For global markets, it could mean a more predictable and stable environment for investment and new product development.


Obtaining a Coinbase licence in Bermuda is an important milestone not only for the company itself, but also for the entire cryptocurrency industry. It confirms the growing acceptance and integration of cryptocurrencies into the global financial system, and opens up new prospects for development and innovation. However, along with new opportunities come new challenges that require attention and efforts from both regulators and market participants. Interesting times lie ahead as we watch the further development of cryptocurrencies and blockchain technologies on the global stage.

PLP Has Reduced the Tax Burden on Workers in Bermuda

Income Reduction in
Taxes in 2018
Reduction in
Taxes in 2020
Reduction in
Taxes in 2022
Reduction in
Taxes in 2023
Total Annual
Reduction From
Cumulative Tax
Savings from
2017 – 2024
$36,000 -$270 -$720 -$180 -$360 -$1,530 -$5,220
$48,000 -$360 -$960 -$240 -$480 -$2,040 -$6,960
$60,000 -$270 -$720 -$180 -$450 -$1,620 -$5,310
$72,000 -$180 -$480 -$120 -$420 -$1,200 -$3,660
$84,000 -$90 -$240 -$60 -$390 -$780 -$2,010
$96,000 $0 $0 $0 -$360 -$360 -$360

Crypto exchange Bermuda licence

In the context of globalised financial markets, the strategic decision by cryptocurrency exchanges to obtain a licence in Bermuda demonstrates a significant step towards regulatory integration and transparency. This move emphasises the desire to build trust and security in the digital asset industry, and opens up new business prospects.

Strategic Development of Financial Services in Bermuda

Bermuda, traditionally recognised for its innovative financial infrastructure, is actively building an ecosystem attractive to cryptocurrency companies. The development and implementation of a regulatory framework aimed at digital assets serves the dual purpose of enhancing the islands’ reputation as a centre of financial innovation and attracting international business to the digital asset sector.

Business Implications of Obtaining a Licence

For cryptocurrency exchanges, the licensing process in the jurisdiction of Bermuda represents a strategic investment in corporate legitimacy and regulatory compliance. This not only builds trust among investors and users, but also provides the exchange with access to new markets and customer bases through the international recognition of the Bermuda licence.

Impact on the Global Regulatory Environment

Initiatives to licence cryptocurrency exchanges in Bermuda make a significant contribution to international regulatory standards. Such measures may encourage the creation of harmonised rules and regulations in other jurisdictions, contributing to a more stable and predictable global regulatory environment for digital assets.

Development of Technologies and Innovations

A comprehensive licensing process requires cryptocurrency exchanges to implement advanced technologies and develop innovative solutions aimed at increasing the level of security and efficiency of operations. This contributes not only to the competitiveness of the exchange, but also to the overall technological development in the digital asset industry, fuelling progress in blockchain technology and digital financial infrastructure.

Synergy between Regulation and Marketing Strategies

The successful licensing of crypto exchanges in Bermuda opens up new opportunities for marketing strategies focused on strengthening the brand and expanding the customer base. The licensing process, as an indicator of compliance with international standards and security principles, allows exchanges to emphasise their reliability and transparency, which is a key factor in attracting new users and investors in a highly competitive market.

Risk Management and Compliance

Adapting to Bermuda’s regulatory requirements requires cryptocurrency exchanges to develop sophisticated risk management and compliance systems, which in turn improves their operational efficiency and enhances the protection of user assets. Such efforts contribute to a more sustainable and secure ecosystem for trading digital assets, enhancing the overall stability of the market.

Perspectives and Challenges on the Way Forward

Despite the significant benefits, obtaining a licence in Bermuda presents crypto exchanges with a number of challenges, including the need to continuously comply with dynamically changing regulatory standards and high technical and data security requirements. To maintain and grow their status as licensed exchanges, organisations will need to invest in improving their operational processes, technology infrastructure and human resources.


Obtaining a licence in Bermuda represents a strategic move for crypto exchanges, underlining their commitment to high standards of regulatory compliance, security and transparency. This not only strengthens their position in the international digital asset market, but also contributes to the development of the entire industry by stimulating innovation and setting new standards of quality and reliability. However, in order to maintain these standards and continue to evolve in a dynamically changing digital landscape, cryptocurrency exchanges will have to constantly adapt to new challenges and opportunities, which requires continuous investment in innovation and strategic planning.

 Crypto secures Bermuda licence

In an ever-changing financial technology landscape, the cryptocurrency company’s strategic decision to secure a licence in the jurisdiction of Bermuda marks a significant step towards strengthening its regulatory status and expanding its global footprint. This process not only demonstrates the company’s commitment to transparency and compliance with international regulations, but also opens up new business opportunities.

Regulatory Strategy as a Fundamental Component of Success

The choice of Bermuda as a regulatory jurisdiction is not a coincidence. This choice reflects the company’s strategic approach to take advantage of the favourable and progressive regulatory climate offered by the islands. Bermuda provides a clear legal framework for cryptocurrency transactions, including ICOs, digital asset trading and data custody, which provides legal clarity and promotes investor and user confidence.

Compliance and Trust as Key Drivers of Growth

The process of obtaining a licence underscores the company’s commitment to high standards of compliance and corporate responsibility. It is an important signal to regulators, partners and customers, confirming the reliability and stability of the company’s operations. At a time when many markets are still sceptical about cryptocurrencies due to concerns over money laundering and terrorist financing, licensing in Bermuda demonstrates the company’s commitment to high AML and KYC standards.

Expanding Global Presence and Market Access

The licence opens the door for the company to scale its operations internationally, providing access to new markets and customer segments. This strengthens its position as a global player in the digital asset market, able to compete on equal terms with traditional financial institutions.

Impact on Innovative Activity and Technological Development

The licensing process in Bermuda also encourages innovation and technological development within the company. Compliance with strict regulatory requirements requires the company not only to strengthen its internal management and control processes, but also to develop advanced technological solutions in the areas of transaction security, data storage and protection of users’ personal information. This, in turn, increases the company’s competitiveness in the market and promotes the development of innovative products and services that meet the highest quality and security standards.

Strengthening Partnerships and Investment Attractiveness

Licensing in Bermuda also has a positive impact on forming and strengthening partnerships with other market participants, including banks, insurance companies and institutional investors. Demonstration of compliance with international regulatory standards increases the confidence of potential partners and opens up new opportunities for co-operation. In addition, the transparency of operations and reliability of the company make it more attractive to investors, helping to attract additional investment in business development.

Regulatory Challenges and the Need for Adaptation

Despite the many benefits, obtaining and maintaining a licence in Bermuda requires a company to continually adapt to changing regulatory requirements and norms. This involves investing in internal resource development, staff training and technological upgrades to systems. Companies seeking to maintain their regulatory status need to be prepared for rapid changes in the regulatory environment and to adapt their business processes and products quickly.


Obtaining a licence in Bermuda is an important milestone in the development of a cryptocurrency company, underlining its commitment to high standards of regulatory transparency and corporate responsibility. This step not only builds trust with customers and partners, but also opens up new opportunities for global scaling, innovative development and investment attraction. At the same time, it places additional obligations on the company to maintain a high level of regulatory compliance and continuously adapt to the changing regulatory environment, which requires significant effort and resources. Ultimately, success in maintaining a licence and growing a business within Bermuda’s regulatory requirements will depend on a company’s ability to innovate, adapt and maintain high standards in all aspects of its operations.

Development Prospects and Long-Term Impact

The long-term prospects for the company, which has secured licensing in Bermuda, look optimistic. Regulatory recognition strengthens its position on the international stage, creating a foundation for sustainable growth and development. Going forward, this strategic initiative can help not only to expand its service portfolio and geographic reach, but also to strengthen the company’s leadership in innovation and technological advancement.

A key success factor will be the company’s ability to adapt to the rapidly changing digital landscape while maintaining strict compliance with regulatory standards and client expectations. Interaction with regulators, partners and customers will require a transparent communication approach and a constant focus on service quality.

Final Recommendations for the Industry

For other players in the cryptocurrency industry, the example of Bermuda’s successful licensing can send a strong message about the importance of regulatory compliance and transparency. Companies seeking to grow internationally should not view regulatory licensing as a prerequisite, but as a strategic advantage that builds trust and fosters sustainable development.

In conclusion, obtaining a licence in Bermuda is an important step for a cryptocurrency company on its path to global recognition and success. It demonstrates its commitment to high standards and willingness to engage in an open dialogue with regulators and the community. Such a strategy can serve as an example for the entire industry, emphasising the importance of regulatory compliance as a foundation for long-term success and innovation in the world of digital assets.

Advantages of a Bermuda Digital Asset licence

In an era of digitalisation of financial services, a digital asset licence obtained in Bermuda represents a significant strategic asset for cryptocurrency and blockchain technology companies. The Bermuda jurisdiction stands out for its progressive approach to the regulation of digital assets, offering a comprehensive regulatory environment that fosters innovation and development. This article examines the key strategic advantages a company gains from pursuing a digital asset licence in Bermuda.

Progressive Regulatory Environment

Bermuda is known for its flexible yet strict regulatory approach to digital assets. Bermuda’s regulatory model provides a clear legal framework for digital asset transactions, including trading, storage and transfer of data, which provides legal clarity and certainty for businesses. This approach fosters a favourable environment for innovation and attracts companies interested in developing blockchain and cryptocurrency technologies.

Building Confidence among Investors and Users

A licence obtained in a jurisdiction with a high level of regulatory control significantly increases investor and user confidence in the company. It demonstrates the business’ commitment to high standards of transparency, security and corporate responsibility. As a result, companies with a digital asset licence in Bermuda can expect increased investment appeal and a growing customer base.

Access to International Markets

Obtaining a licence in Bermuda opens the door to international markets for companies. Thanks to the international recognition of Bermuda’s regulatory status, companies can more easily interact with international partners, banks and regulators in other countries. This creates additional opportunities for business scaling and access to new sources of financing.

Stimulating Innovation and Technological Development

With its open approach to innovation, Bermuda’s regulatory environment fosters the development and adoption of new technologies in the digital asset space. Licensed companies are at the forefront of technological advancement, being able to experiment and develop innovative solutions in an environment that supports innovation. This not only strengthens their competitive advantage, but also contributes to the overall growth and development of the entire digital asset industry.

Optimisation of Tax Burden

Bermuda offers a favourable tax environment for businesses, including no direct taxes on profits, capital or dividends. For companies involved in digital assets, this represents a significant reduction in the tax burden, which can significantly increase their financial efficiency and facilitate reinvestment in business development and expansion.

Increased Security and Transparency

Bermuda’s regulatory requirements include strict measures to ensure the security and transparency of digital asset transactions, including auditing, transaction controls and consumer protection. For companies, this means maintaining a high level of security in their systems and procedures, which in turn increases the confidence of their customers and partners in their services.

Support from Regulators

Unlike some jurisdictions where regulatory policies on digital assets can be ambiguous or restrictive, Bermuda offers strong regulatory support and co-operation. This creates a favourable environment for business development, allowing companies to effectively address emerging issues and quickly adapt to changing market conditions.


A digital asset licence obtained in Bermuda provides companies with a number of strategic advantages, opening up significant opportunities for growth and development in the dynamically changing world of financial technology. Bermuda is one of the most attractive jurisdictions for digital asset companies due to its progressive regulatory environment, optimised tax burden, enhanced investor and user confidence, and support for innovation and technological development.

Employer Payroll Tax Rates in Bermuda
Business Tax Bands Previous
New Rates % Change Reduction in Tax
Bill from Prior Year
Annual payroll < $200,000 1.75% 1.00% -0.75% -43%
$200,000 Annual payroll $350,000 3.50% 2.50% -1.00% -29%
$350,000 Annual payroll $500,000 6.50% 5.25% -1.25% -19%
$500,000 < Annual payroll VI $1,000,000 9.00% 7.50% -1.50% -17%
Annual payroll > $1,000,000 10.25% 10.00% -0.25% -2%
Exempt Undertakings 10.25% 10.25% 0.00% 0%
Gov., Gov. Boards, Parish Council, & Bda
0.00% 0.00% 0.00% 0%
Self Employed Farm, Fish 1.75% 0.00% -1.75% -100%
Educ, Sport, Scient Inst. 1.75% 1.00% -0.75% -43%
Char, Schl, Relig and Cult. Organisations 0.00% 0.00% 0.00% 0%
Economic Empowerment Zone 0.00% 0.00% 0.00% 0%
BHB Corp of Hamilton and St. George’s 3.50% 3.50% 0.00% 0%
Qualifying Retail 7.00% 6.00% -1.00% -14%
Hotels & Rest. w/annual payroll $350,000 6.00% 5.00% -1.00% -17%

 Digital Asset Business (DAB) in Bermuda

In recent years, Bermuda has been actively building its image as one of the world’s leading centres for Digital Asset Business (DAB). This aspiration is supported by a progressive regulatory policy and a favourable legal environment conducive to the growth and development of digital asset companies.

Regulator Frame for DAB in Bermuda

Bermuda has enacted legislation governing digital assets, providing a clear legal framework for companies operating in this area. The legislation covers a wide range of activities, including the storage, transfer, trading and management of digital assets, as well as the provision of digital asset exchange services. This approach not only promotes transparency and security in digital asset transactions, but also emphasises Bermuda’s commitment to a robust and innovative financial infrastructure.

Strategic Advantages for DAB Companies

Bermuda offers a number of strategic advantages for digital asset companies:

  • Legal Clarity and Regulatory Support: Clear regulation and support from local regulators provide a stable and predictable business environment.
  • International Recognition: Bermuda’s positive image as a reliable jurisdiction helps to attract investment and expand international partnerships.
  • Tax Incentives: The absence of direct taxes on income, capital or dividends creates a favourable environment for financial growth and reinvestment.

Challenges and Risks

Despite the significant benefits, DAB companies face certain challenges when doing business in Bermuda. These include the need to comply with stringent regulatory requirements, as well as the need to adapt to a rapidly changing technological and regulatory landscape. Companies must focus on risk management, data protection and ensuring a high level of security for their operations.


Bermuda is an attractive jurisdiction for digital asset businesses due to its progressive regulatory framework, strategic advantages and support for innovation. However, success in this area requires not only regulatory compliance, but also active risk management and a willingness to adapt in the face of rapidly evolving technologies and changing market conditions.

Prospects for DAB Development in Bermuda

The continued growth of the digital asset business in Bermuda will depend on several key factors, including the evolution of global trends in cryptocurrency and blockchain technology, as well as Bermuda’s ability to continue to offer an innovative and competitive regulatory environment. Adapting to global standards and continuing to improve the regulatory environment will be key aspects supporting the growth and sustainability of the DAB in Bermuda.

Strategies for Successful DAB Management

Companies looking to succeed in the DAB industry in Bermuda must adopt several strategic approaches:

  • Continuous Compliance: Keeping up-to-date on regulatory changes and adapting business models to these changes.
  • Investing in Security: Strengthening security and data protection systems to increase customer confidence and minimise risk.
  • Innovation and Development: Investing resources in research and development of new products and services that can capitalise on the unique opportunities in the digital asset market.
  • Collaborations and Partnerships: Develop strategic partnerships with other members of the DAB ecosystem to expand market reach and strengthen competitive advantage.

Final Thoughts

Digital asset businesses in Bermuda offer significant opportunities for innovation, growth and development. With its open and supportive regulatory environment, Bermuda represents one of the most attractive jurisdictions for digital asset companies. However, to capitalise on these opportunities, companies need to carefully manage their risks, invest in innovation and proactively adapt to the changing regulatory and technological environment.

Blockchain & Cryptocurrency Laws and Regulations in Bermuda

Bermuda has established itself as one of the leading international centres for blockchain and cryptocurrency regulation, attracting the attention of the global business community with its progressive and innovative legislative framework. This article provides a detailed analysis of blockchain and cryptocurrency legislation and regulation in Bermuda, highlighting the key aspects that make this jurisdiction attractive for digital asset businesses.

Fundamentals of Legislation

Bermuda is actively working to create a favourable regulatory environment for the development of blockchain technology and cryptocurrencies. In 2018, a number of laws were enacted to regulate digital asset activity, including:

  • The Digital Asset Business Act (DABA): The Act establishes a framework for companies engaged in digital asset business, requiring them to obtain a licence and meet certain regulatory standards.
  • Law on Initial Coin Offerings (ICO): Regulates the process of ICOs by establishing disclosure and investor protection requirements.

These initiatives emphasise Bermuda’s commitment to creating a safe and transparent environment for investors and digital asset companies.

Regulatory Organs

The primary regulatory body responsible for overseeing blockchain and cryptocurrency activities is the Bermuda Monetary Authority (BMA). The BMA plays a key role in licensing and regulating companies, ensuring compliance with international anti-money laundering (AML) and counter-terrorist financing (CFT) standards, as well as data protection and consumer protection.

Benefits for Business

Bermuda’s legislative and regulatory environment offers a number of advantages for businesses, including:

  • Legal Clarity: Clear regulatory frameworks and transparent licensing requirements simplify the process of launching and running a digital asset business.
  • International Recognition: Compliance with international standards and a high level of regulatory oversight enhance the credibility of Bermuda-based companies among international partners and investors.
  • Incentivising Innovation: Bermuda’s regulatory environment fosters the development and deployment of innovative products and services by supporting technological innovation in blockchain and cryptocurrencies.
  • Investor Protection: Strict disclosure and investor protection requirements contribute to a safe investment climate.

Challenges and Recommendations

The need for strict regulatory compliance can present challenges for companies, especially start-ups and small businesses with limited resources. To do business successfully in Bermuda, companies are advised to:

  • Thorough Preparation: Before applying for a licence, it is important to thoroughly review the regulatory requirements and ensure that they are fully complied with.
  • Engaging Qualified Professionals: Working with legal and financial advisors with experience in the Bermuda jurisdiction can make the regulatory compliance process much easier.
  • Focus on Compliance: Continued attention to compliance and adapting to changes in the regulatory environment are key to maintaining a licence and long-term success in the market.


Bermuda provides a favourable environment for blockchain and cryptocurrency businesses, offering a clear regulatory framework, support for innovation and a high level of investor protection. However, success in this jurisdiction requires companies to not only comply with established standards, but also to actively engage in a process of continuous improvement and adapt to regulatory changes. With the right approach and strategic planning, Bermuda can be a key place to conduct and expand digital asset activities internationally.

Licensing procedure in Bermuda

Bermuda, recognised as an international financial centre, offers a favourable environment for companies seeking to expand into financial services, including the digital asset sector. The licensing process in Bermuda is a key aspect of doing business in this jurisdiction, requiring careful planning and an understanding of local regulatory requirements.

Main Stages of the Licensing Procedure

  1. Defining the Licence Type

The first step is to determine the type of licence appropriate to the company’s activities. Depending on the service area, this may be a licence for banking, insurance, investment, digital asset management, etc. It is important to carefully review the requirements for each type of licence to ensure full compliance with the stated activities.

  1. Preparation of Documentation

The next stage is to prepare and collect the necessary documentation, including a business plan, financial projections, evidence of compliance with AML/CFT requirements, information on the company’s key persons and their qualifications. The documentation should clearly reflect the company’s business model, structure, operational processes and risk management measures.

  1. Submission of the Application

Once the documentation has been prepared, the licence application is submitted to the regulatory body, the Bermuda Monetary Authorisation Commission (BMA). It is important to ensure that all materials are prepared in accordance with BMA requirements and fully reflect all aspects of the proposed activity.

  1. Evaluation of the Application

The BMA carries out a thorough assessment of the submitted materials, which may include requests for additional information or clarifications. During this period it is important to maintain an open dialogue with the regulator and provide all necessary materials promptly.

  1. Obtaining a Licence

Upon successful completion of the assessment and satisfaction of all BMA requirements, the company is granted a licence to operate. Obtaining a licence is the beginning of a long-term relationship with the regulator and requires ongoing compliance with regulatory rules and standards. To facilitate the licensing process and minimise potential delays, companies are advised to follow a few key guidelines:

Active Interaction with the Regulator

Building an open and constructive dialogue with the Bermuda Monetary Authority (BMA) will help to better understand the requirements and expectations of the regulator. It is recommended to use prior consultation with the BMA to discuss key aspects of the proposed activity and clarify any ambiguities in the licensing procedure.

Comprehensive Preparation of Documentation

It is important to pay special attention to the quality and completeness of the documentation prepared. The business plan and financial projections should be realistic and reflect all potential risks and measures to minimise them. Documents demonstrating compliance with AML/CFT requirements should be particularly carefully developed.

Maintaining Compliance with Norms and Standards

Obtaining a licence is not the end goal, but rather the beginning of a new phase during which the company must continuously maintain a high level of regulatory compliance. Regular updating of internal procedures and policies, as well as employee training, are key aspects for successful regulatory compliance.

Investing in Competences and Infrastructure

Successful licensing and further business development in Bermuda requires a company to have qualified personnel and a reliable infrastructure. Investments in risk management systems, data protection and security of digital asset transactions will ensure the company’s long-term success in the market.


Licensing in Bermuda is a complex but manageable process for companies seeking to do business in financial services, including the digital asset sector. By following the above guidelines and proactively engaging with the regulator, companies can successfully complete the licensing process and establish their presence in the international financial marketplace while enjoying all the benefits that Bermuda offers.

 Taxation of virtual currency companies in Bermuda

Bermuda has attracted the attention of the global business community not only for its progressive regulatory environment for virtual currency companies, but also for its favourable taxation system.

Basic Principles of Taxation in Bermuda

One of the key features of Bermuda is the absence of direct taxes on income, profits, dividends and capital gains. This makes Bermuda an attractive jurisdiction for international business, including virtual currency companies. This tax policy favours investment and stimulates economic development of the islands.

Peyrol tax

Although there are no direct taxes, companies operating in Bermuda are subject to a peyroll tax. This tax is payable on the wages of employees and is shared between the employer and the employee. Peyroll tax rates can vary and companies should carefully plan their liabilities in this area to optimise their tax burden.

Licence Fees

Virtual currency companies licensed by the Bermuda Monetary Authorisation Commission are required to pay licence fees. The fees may vary depending on the type of licence and the volume of transactions. It is important to consider these fees when planning a company’s financial activities in Bermuda.

Tax Planning Recommendations

To optimise the tax liabilities of companies dealing with virtual currencies in Bermuda, it is recommended that:

  • Careful Payroll Cost Planning: Given the payroll tax, companies should optimise their payroll cost structure and related tax liabilities.
  • Consultation with Tax Professionals: Working with qualified tax advisors familiar with Bermuda tax ways to minimise your tax burden and will ensure compliance with all local legal requirements.
  • Consideration of Company Structuring: Determining the optimal company structure can facilitate efficient tax planning. Given the absence of income tax, companies may consider Bermuda as a location for an international holding company or intellectual property management centre.
  • Attention to International Tax Liabilities: Companies operating internationally must also consider tax requirements and obligations in other jurisdictions in which they operate in order to avoid double taxation and comply with international anti-money laundering and anti-terrorist financing standards.


Bermuda offers virtual currency companies an attractive tax environment with no direct taxes on income and profits, making the jurisdiction attractive to international business. However, payroll tax and licence fees require careful planning and management. Careful tax planning and consultation with professionals can help companies maximise their financial efficiency and maintain regulatory compliance, ensuring sustainable business development in Bermuda.

Securing a Crypto Exchange License in Bermuda 2024: Strategic Insights and Regulatory Guidelines

Bermuda is quickly establishing itself as one of the most attractive jurisdictions for cryptocurrency enterprises, thanks to its progressive regulatory framework and commitment to fostering innovation. This article provides an in-depth look at obtaining a crypto exchange license in Bermuda, detailing the regulatory landscape, application process, and the strategic benefits of operating in this jurisdiction.

Regulatory Framework for Crypto Exchanges in Bermuda

The Bermuda Monetary Authority (BMA) is at the forefront of cryptocurrency regulation, having implemented the Digital Asset Business Act (DABA) to provide a comprehensive legal framework for digital asset businesses. This act ensures that all crypto-related activities are conducted within a framework that promotes market integrity and consumer protection.

Types of Crypto Licenses in Bermuda

Bermuda offers various licenses to cater to different functions within the crypto ecosystem:

  • Crypto exchange license in Bermuda: Allows companies to operate platforms where users can trade cryptocurrencies and fiat currencies.
  • Crypto broker license in Bermuda: Enables businesses to act as brokers in crypto transactions.
  • Crypto trading license in Bermuda: For entities engaged directly in the buying and selling of digital assets.
  • VASP crypto license in Bermuda: Designed for virtual asset service providers offering a wider range of services.

Application Process for a Crypto License

Securing a crypto license in Bermuda involves a rigorous application process that includes thorough documentation, proof of compliance with AML and CFT regulations, and demonstration of a robust business model. The BMA reviews each application meticulously to ensure adherence to the highest standards of operational integrity and security.

Cost of Crypto Licensing in Bermuda

The crypto exchange license in Bermuda cost is competitive and reflects the island’s commitment to attracting high-caliber crypto businesses. While initial costs may be significant, the long-term benefits of operating in a regulated and reputable jurisdiction are substantial.

Benefits of Acquiring a Crypto License in Bermuda

Holding a Bermudian crypto license offers businesses strategic access to global markets and enhances their credibility with investors and partners worldwide. It also ensures compliance with an internationally recognized regulatory framework, providing businesses with a substantial competitive edge.

Challenges in the Licensing Process

Applicants may face challenges such as navigating complex regulatory requirements and maintaining high standards of compliance. However, Bermuda’s clear regulatory pathways and supportive governmental policies facilitate a relatively smooth licensing process compared to other jurisdictions.

Market Opportunities in Bermuda

The Bermudian government’s proactive approach provides significant incentives for crypto businesses, potentially offering the cheapest crypto license in Bermuda compared to other global financial centres. This makes Bermuda an appealing destination for both startups and established companies looking to expand their footprint in the crypto space.

Conclusion: As global interest in cryptocurrency continues to grow, Bermuda remains at the cutting edge of regulatory and business developments. Securing a crypto exchange license in Bermuda not only aligns with best practices but also positions businesses to take full advantage of the opportunities available in this dynamic and rapidly evolving industry.


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A Bermuda cryptocurrency license is a permit granted by the Bermuda Monetary Authority (BMA) allowing businesses to engage in various digital asset activities within or from Bermuda.

Any entity intending to conduct digital asset business activities, such as issuing, selling, or redeeming virtual coins or tokens, operating digital asset payment services, or running electronic exchanges for digital assets, must obtain a Bermuda cryptocurrency license.

To apply for a Bermuda cryptocurrency license, you need to submit an application to the BMA, providing comprehensive details about your business, operations, compliance procedures, and risk management strategies.

Key requirements include having a physical presence in Bermuda, maintaining adequate corporate governance structures, implementing robust anti-money laundering (AML) and counter-terrorism financing (CTF) procedures, and demonstrating financial stability and suitability.

The timeframe for obtaining a Bermuda cryptocurrency license can vary depending on factors such as the completeness of your application, regulatory review processes, and any additional requirements imposed by the BMA. Typically, it can take several months to complete the licensing process.

Benefits include access to a well-regulated and reputable jurisdiction, potential tax advantages, participation in a thriving fintech ecosystem, and the ability to gain credibility and trust from customers and investors.

Yes, license holders must adhere to ongoing compliance requirements, including maintaining adequate capital reserves, conducting regular audits, submitting periodic reports to the BMA, and complying with changes in regulatory requirements.

Non-compliance with Bermuda cryptocurrency regulations can result in penalties, including fines, license revocation, reputational damage, and legal consequences.

Yes, foreign entities can apply for a Bermuda cryptocurrency license, but they must establish a physical presence in Bermuda and comply with all regulatory requirements.

For more information about obtaining a Bermuda cryptocurrency license, you can visit the Bermuda Monetary Authority website or consult with legal and regulatory experts specializing in fintech and digital asset regulation in Bermuda.

Yes, cryptocurrency activities are licensed in Bermuda. The Bermuda government has established one of the world's first comprehensive regulatory frameworks specifically designed to regulate cryptocurrencies and related services and activities. This framework includes the Digital Asset Business Act (DABA) 2018, which introduces a licensing regime for businesses engaged in the 'digital asset business'.

The term "digital asset business" refers to the provision of services to the public related to the issuance, sale or redemption of virtual coins, tokens or other forms of digital assets, operating as a payment intermediary using digital assets, operating as a digital exchange, providing storage or maintenance services for virtual wallets, and other activities related to digital assets.

The licensing and regulation of cryptocurrency activities in Bermuda is aimed at ensuring compliance with international standards of transparency and anti-money laundering, as well as protecting the rights of consumers and investors.

The process of obtaining a crypto licence in Bermuda is subject to the requirements of the Digital Asset Business Act (DABA) and typically involves the following steps:

  1. Document Preparation: Collection and preparation of all necessary documents including detailed business model, financial projections, anti-money laundering (AML) and Know Your Customer (KYC) policies, information on executive and management personnel, and beneficial owners.
  2. Application: Process and submit a licence application to the Bermuda Monetary Authority (BMA), including all necessary supporting documents and payment of applicable fees.
  3. BMA review: BMA conducts a thorough review of the information provided, assessing AML/KYC's business model, policies and procedures, and the qualifications and reputation of management and owners. This process may include requests for additional information and clarification.
  4. Risk assessment: An assessment of the risks associated with the proposed activity, including financial, operational and reputational risks.
  5. Decision notification: After the review is completed, the BMA notifies the applicant of its decision. If the application is approved, a licence is issued to allow the business of digital assets under DABA. In the case of a refusal, the BMA must explain the reasons for this decision.
  6. Issuance of licence: On successful approval, the applicant will be granted a licence to conduct digital asset-related activities, subject to conditions determined by the BMA.
  7. Oversight and Compliance: Licensed entities are required to comply with ongoing regulatory requirements, including filing reports, adhering to AML/KYC standards and participating in regular inspections by the BMA.

It is important to note that the process of obtaining a licence can be complex and requires in-depth knowledge of local legislation and regulatory practices. It is therefore recommended to seek professional legal support.

The regulator of cryptocurrency activity in Bermuda is the Bermuda Monetary Authority (BMA). The BMA is responsible for licensing and supervising digital asset related activities under legislation such as the Digital Asset Business Act (DABA).

The process of obtaining a crypto licence in Bermuda can take varying amounts of time depending on a variety of factors, including the completeness and accuracy of the documentation provided, the complexity of the business model and the current workload of the Bermuda Monetary Authority (BMA). Typically, the application process can take anywhere from a few weeks to several months. It is important to follow all BMA requirements precisely and provide all requested information to avoid delays in processing the application.

When obtaining a crypto licence in Bermuda, the founders and key persons of the company are subject to certain requirements based on transparency, integrity and compliance with the regulatory framework. These requirements include:

  1. AML/KYC compliance check: Founders and key persons must undergo anti-money laundering (AML) and Know Your Customer (KYC) verification procedures, including providing personal documents confirming their identity and residential address.
  2. Financial reliability: Founders must prove that they are financially reliable and have no significant debts or outstanding financial obligations.
  3. No criminal record: Founders and key persons must not have a criminal record for financial or money laundering offences, terrorist financing or other serious offences.
  4. Professional experience: Founders and key individuals should have relevant professional experience in finance, management, law or technology that demonstrates their ability to properly manage digital asset-related activities.
  5. Business Plan and Policies: The company should provide a detailed business plan, including a description of its business model, risk assessment, AML/KYC policies, customer and information protection measures, and risk management strategies.
  6. Residency: While there may not be an explicit residency requirement for founders or key persons in Bermuda, the company must provide a registered office in the islands and appoint a local representative or agent.

These requirements are part of Bermuda's efforts to create a transparent and secure environment for dealing in digital assets and to prevent abuse of cryptocurrencies. When applying for a licence, it is recommended that you carefully review all requirements of the Bermuda Monetary Authority and seek professional advice if necessary.

Yes, foreigners can obtain a crypto licence in Bermuda. The regulatory framework established by the Digital Asset Business Act (DABA) provides for foreign investors and companies to apply for a licence to conduct digital asset-related activities. However, it is important to bear in mind that all applicants, including foreign companies and their representatives, must meet strict requirements for verification (KYC and AML), financial stability, professional experience and other criteria set by the Bermuda Monetary Authority (BMA).

Companies founded by foreign founders may need to provide additional documents and information to confirm the legitimacy of their operations, as well as details of their business model related to digital assets. In some cases, it may be necessary to partner with local legal and financial advisors to facilitate the licensing process and ensure compliance with local laws and regulations.

The validity of a crypto licence in Bermuda depends on the type of licence and the conditions set by the Bermuda Monetary Authority (BMA) at the time of its issuance. The Digital Asset Business Act (DABA), which regulates digital assets, does not specify specific licence terms, which implies that these terms can be determined by the regulator on a case-by-case basis.

However, licences generally require periodic renewal or reissuance in accordance with current regulatory requirements. Licensees are required to comply with all regulatory and operational requirements of the BMA throughout the term of the licence and to submit the necessary reports and information to maintain their licensed status.

For accurate information on the validity of a particular Bermuda crypto licence and renewal requirements, you should contact the BMA directly or consult qualified legal advisors specialising in the regulation of digital assets in Bermuda.

The prescribed amount of share capital for crypto companies in Bermuda may vary depending on the type of business and the requirements imposed by the Bermuda Monetary Authority (BMA) under the Digital Asset Business Act (DABA) licensing. The exact share capital requirements for different categories of DABA licences are not publicly unified in publicly available sources and can be determined during the licence application process and further interaction with the BMA.

Authorised capital requirements are set to ensure the financial strength and reliability of a crypto company and to protect the interests of customers and investors. It is important to consider that in addition to the amount of authorised capital, the BMA may also take into account other factors such as the business model, risks associated with the proposed activity and AML/KYC compliance measures.

For specific information on the statutory capital requirements and licensing process in Bermuda, it is recommended that you contact the BMA directly or qualified legal advisors specialising in digital asset regulation in Bermuda.

Obtaining a crypto licence in Bermuda offers a number of advantages for digital asset companies:

  1. Legal clarity and regulatory support: Bermuda offers one of the world's first comprehensive regulatory frameworks for digital asset activities, providing legal certainty and regulatory support.
  2. International reputation: Bermuda is known for its stable financial system and strict adherence to international standards of financial regulation, which contributes to the reputation and credibility of companies licensed in the islands.
  3. Attractive tax regime: Bermuda offers a favourable tax regime for businesses, including no income tax, value added tax and other direct taxes, making the islands an attractive place to register a crypto business.
  4. High level of data protection and privacy: Bermuda's regulatory standards include strict data protection and privacy measures, which is important for transactions involving digital assets.
  5. Access to international markets: A licence from the BMA can improve access to international markets and partners, increasing the confidence of clients and investors.
  6. Support for innovation: Bermuda actively supports innovation in fintech and digital assets by offering various programmes to support and facilitate the development of pioneering projects.
  7. Cooperation with international regulators: Bermuda actively cooperates with international regulators and participates in international financial associations, which ensures regulatory consistency and promotes a favourable business environment.

However, it is worth remembering that obtaining a licence also involves the need to comply with certain requirements and standards set by the Bermuda Monetary Authority, including regular reporting and audits.


A company with a Bermuda crypto licence can open a bank account, but the process can be more complicated than traditional companies due to more stringent anti-money laundering (AML) and counter-terrorist financing (CFT)
screening requirements. Banks may require additional documentation and information about the company's business model, beneficial owners, sources of funds and AML/CFT compliance measures.

Opening a bank account will also depend on the particular bank's policy on digital asset companies. Some banks may be cautious about opening accounts for cryptocurrency companies due to the increased risks associated with this area. However, having an official licence issued by the Bermuda Monetary Authority (BMA) increases the chances of successfully opening an account, as it confirms the legitimacy and reliability of the company.

Companies with a crypto licence in Bermuda are advised to consult with banks in advance regarding their requirements and procedures, and to consider working with financial institutions that specialise in servicing cryptocurrency and blockchain projects.

Bermuda, as an international financial centre, takes serious measures to combat money laundering (AML) and terrorist financing (CFT). This includes strict legislation, international co-operation and regular updates to policies and procedures to ensure compliance with international standards. Bermuda is committed to maintaining its reputation as a safe and secure place to do business, which requires active AML/CFT efforts.

Legislation and Regulation

Bermuda has adopted comprehensive legislation aimed at preventing the use of its financial system for money laundering and terrorist financing. Key regulations include:

  • The Anti-Money Laundering and Anti-Terrorist Financing Act (AML/ATF Act), which imposes requirements on financial institutions and certain non-banking businesses and professions with respect to customer identification, transaction monitoring, and suspicious transaction reporting.
  • Financial Services Identification, Reports and Documentation Act (FATF Recommendations), which imposes obligations on financial institutions to comply with AML/CFT procedures.

International co-operation

Bermuda actively cooperates with international organisations and countries in the fight against money laundering and terrorist financing. They are members of the Financial Action Task Force (FATF) through their affiliation with the Caribbean Group Against Money Laundering (CFATF). This ensures that Bermuda is regularly assessed on its AML/CFT measures and policies to ensure that they meet international standards.

Regulatory authorities and monitoring

In Bermuda, a number of regulatory bodies are responsible for overseeing and enforcing AML/CFT policies and procedures. These include the Bermuda Monetary Authority (BMA), which is the central regulator of the financial industry, including banks, insurance companies, investment funds and other financial institutions.

Education and Training

Bermuda places great importance on AML/CFT education and training among its financial professionals. Regular trainings, seminars and conferences are organised to raise awareness and competence in the AML/CFT field.


Bermuda continues to strengthen its AML/CFT measures in line with international requirements and best practices. Their goal is not only to prevent the use of the islands' financial system for money laundering and terrorist financing, but also to maintain a high level of international confidence in Bermuda's financial sector.

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At the moment, the main services of our company are legal and compliance solutions for FinTech projects. Our offices are located in Vilnius, Prague, and Warsaw. The legal team can assist with legal analysis, project structuring, and legal regulation.

Company in Lithuania UAB

Registration number: 304377400
Anno: 30.08.2016
Phone: +370 661 75988
Email: [email protected]
Address: Lvovo g. 25 – 702, 7th floor, Vilnius,
09320, Lithuania

Company in Poland Sp. z o.o

Registration number: 38421992700000
Anno: 28.08.2019
Phone: +48 50 633 5087
Email: [email protected]
Address: Twarda 18, 15th floor, Warsaw, 00-824, Poland

Regulated United Europe OÜ

Registration number: 14153440–
Anno: 16.11.2016
Phone: +372 56 966 260
Email:  [email protected]
Address: Laeva 2, Tallinn, 10111, Estonia

Company in Czech Republic s.r.o.

Registration number: 08620563
Anno: 21.10.2019
Phone: +420 775 524 175
Email:  [email protected]
Address: Na Perštýně 342/1, Staré Město, 110 00 Prague

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