Continuance in Bermuda
This memorandum outlines the steps necessary under the Companies Act 1981 of Bermuda for a company incorporated outside of Bermuda to continue into Bermuda as a Bermuda-exempted company. Under Bermuda law, one or more Bermuda-exempted companies may merge or amalgamate with one or more bodies incorporated outside Bermuda, and the surviving or amalgamating entity may continue into Bermuda. A separate publication relating to merger or amalgamation and continuance of the surviving or amalgamating entity into Bermuda is available upon request.
The continuance of a foreign corporation into Bermuda requires careful planning. Due to the nature of a continuance, it is possible that a corporation will become, at least for a short period, a stateless entity. To ensure that such a situation does not occur, it is suggested that before any application is made, all the appropriate documentation should first be completed both here and in the jurisdiction in which the foreign corporation is discontinuing. The end result should be that the corporation will discontinue from the foreign jurisdiction and continue in Bermuda as an exempted company at the same time.
Any foreign corporation, other than a bank or a licensed trust company, may continue into Bermuda in accordance with the procedures set out in this briefing…
If you are registered and logged in to the site, click on the link below to read the rest of the Conyers Dill & Pearman briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Conyers Dill & Pearman
Briefings from Conyers Dill & Pearman
This article provides a reminder of the impending deadlines and action that is required for those BVI entities that are classified as ‘foreign financial institutions’ for the purposes of FATCA.
Cayman has taken a creditor-friendly approach to implementation.