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How to register a trust in Bermuda?

Company incorporation


Bermuda is the 36th state in the world in the ranking of the largest financial centers. Among the international corporations, that have moved their headquarters to Bermuda are Bacardi and the world’s largest oil tanker transportation company Frontline.

Bermuda can issue its own bonds. Bermuda government bonds are rated A (standard 2018) by Standard & Poor's.

An official currency is Bermuda dollar, equivalent to the American one and equal with it in a territory of jurisdiction.

If you are interested in opening a trust in Bermuda, IQD Consulting will help you to prepare and correctly submit all necessary documents. A full name of such a structure in Bermuda is a discretionary trust company, which, in fact, is not a legal form, but a specific legal form of interaction between a beneficiary and a trustee, managing the assets. You can also register a trust in Bermuda of this type:

  • fixed;
  • target.

A trust fund is real estate or other property, securities, money or any assets of any kind, which a founder draws up for a trustee with a detailed description of the trust fund’s assets, constituting a trust.

Technically, your trust in Bermuda will be coordinated by a private trust company (PTC). If a trust is reorganized into a trust group, the same PTC will be enough for a trust management. A regulator does not stipulate the need for a license for this structure, provided, that a contract, with which you plan to register a private trust company in Bermuda, is drawn up with an indication of all the trusts in the group. Contact us to find out how to do this quickly and legally competently.

What regulatory requirements do you need to meet to register a Bermuda trust?

In order to establish a trust in Bermuda, all the main persons can be non-residents: a trustee, a beneficiary and shareholders.

It takes one week to conclude a leasing agreement to open a trust in Bermuda. And getting a bank account number will take a month and a half. It takes 3 weeks to get a tax number.

A minimum registered capital is $1. Opening a bank account in Bermuda for a trust is best done at HSBC.

Benefits of registering a trust in Bermuda:

Bermuda trusts are life-long, guaranteed to be inherited. It is impossible to find out, if you have a trust, since these data are not recorded in government agencies. When changing lenders, trusts remain under a protection of a trustee.

Read also:
The following persons can establish a trust in Bermuda:

A function

The entity

A residency

A note

A settlor

A founder

An individual or a legal entity


May be beneficiaries and may act as a trustee. A founder cannot be a sole beneficiary/sole trustee of his trust

A trustee

A trustee


The beneficiary’s trustee protects their rights and a trust fund. He/she has an ownership of the trust fund and administers a trust in accordance with the agreement for the benefit of the beneficiaries or the fulfillment of the purpose of the trust



An individual or a legal entity


A recipient of the benefits or profits from the activities of a company. A beneficiary pays or benefits from a trust or life insurance policy. Beneficiaries are also specifically indicated in these documents as eligible for any such distribution


A patron


A founder usually appoints a trustworthy person, such as an adviser, as a patron of a trust. The appointment of a defender is an option, not a requirement for a formation of a trust. A patron guarantees, that a trustee will fulfill the wishes of a founder

In what other areas can you register a company in Bermuda?

An important industry in Bermuda is tourism. Hamilton acts as the home port of many cruise liners and luxury yachts. Small industrial companies produce perfumes and pharmaceutical/cosmetic products, plant extracts. Food products of all kinds, petroleum products and cars must be imported.

Professional aid

A choice of jurisdiction is the most difficult part of the process, only after familiarizing yourself with your goals, our lawyers will be able to provide options. Each state has its own benefits for different types of trusts. Our experts monitor all trends, for a more comprehensive advice on registering trusts, on a preparation of a trust agreement/declaration is better to contact a direct request by Email.

  • IQD Consulting shall not be liable for any direct, indirect or consequential loss arising from the use of the information and material contained in this website.
  • Please, consider contacting our experts for possible solutions for your business.
  • Still have questions? Please, fill out the form or contact us in whatever way you find best.

    Our experts will be happy to answer your questions.

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