Bermuda Digital Asset Business License
Bermuda is a politically stable British Overseas Territory located in the North Atlantic Ocean. With a notably high GDP per capita, Bermuda has long been viewed positively by sophisticated financial service industry professionals. Leveraging its relationship with the United Kingdom and within the Commonwealth, and despite its relatively small size, Bermuda is a party to several significant international trade accords and tax treaties.
As a self-governing nation, Bermuda developed a robust offshore financial center. While not a recognized tax haven, Bermuda has nevertheless become the international hub for the reinsurance business. In addition, the country is a significant jurisdiction for offshore banking, publicly-traded companies, mutual funds and even cryptocurrency-based businesses.
Bermuda is an ideal location for a cryptocurrency-based business. Bermuda offers a Digital Asset Business license which allows the holder to operate an international cryptocurrency exchange or cryptocurrency-based payment service, among other options. The licensure is recognized world-wide and many cryptocurrency exchanges are licensed in Bermuda. In addition, the process of obtaining a license is both cost effective and can be accomplished in a relatively short period of time.
Advantages of a Bermuda Digital Asset Business License
Average daily trading in Bitcoin alone exceeds $20 billion. The streamlined and cost-effective process in obtaining a Bermuda cryptocurrency license can place you in this lucrative market in as little as three months. As worldwide adoption of cryptocurrency increases, cryptocurrency exchanges are estimated to have taken in over $1 billion in profits last year alone. With increasingly complex cryptocurrency regulation in leading economic nations such as the United States and European Union, Bermuda offers a cost-effective, risk free alternative for starting a licensed cryptocurrency exchange or broker-dealer.
Bermuda Cryptocurrency License at a Glance
|License||Digital Asset Business License|
|Time to License||3 to 4 Months|
|Capital Requirement||Approx. $100,000|
|Tax Structure||Zero (0%) Percent Tax on Offshore Profits|
Bermuda Digital Asset Business License Package
Establish Bermuda Exempted Company entity.
Preparation and drafting of shareholder and officer agreements.
Preparation and drafting of narrative business plan.
Preparation and drafting of current financial statements.
Preparation and drafting of 3 years financial projections.
Preparation and drafting of personal financial statements for owners.
Preparation and submission of application with Bermuda Monetary Authority.
Preparation and drafting of responses to Bermuda Monetary Authority.
Identification and engagement of auditor and local representative.
Facilitate opening of bank accounts and trading accounts.
Preparation and drafting of AML/KYC policies and procedures.
Preparation and drafting of client agreements and disclosures.
Contact the Bermuda Cryptocurrency License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the cryptocurrency licensing experts at FinLaw to begin the process of obtaining your Bermuda Cryptocurrency License today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.