Bermuda Corporate Existence
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Bermuda Law clearly specifies that corporations or the formal business entities in Bermuda are legal bodies. Incorporating a company in Bermuda is not difficult and time consuming. While the processes of setting up international businesses in Bermuda are clear and swift, the background of the sponsors or the owners and their credentials are closely checked before a go ahead is given. All Bermuda based corporations have limited liabilities.
One can choose a name of the corporation which has not already been used by any other. There are some simple guidelines though that need to be followed while naming the corporate.
Bermuda law allows a company to continue or discontinue its operations in Bermuda subject to following certain processes and necessary regulatory approvals. The winding up procedures are clearly laid down. This provides a significant flexibility to a business.
Bermuda recognizes a wide range of corporate vehicles, both standard and special purpose. In addition, trusts, settlements and partnerships can also be established in Bermuda.
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