Hanson & Molloy PLLC’s legal practice concentrates on business law, insurance and reinsurance law, U.S. legal counsel for Bermuda-based companies, and labor and employment matters. These areas often inspire questions from clients. Please see the frequently asked questions and answers below for more insight into your case.
Offshore business
Focused experience. Effective representation.
Hanson & Molloy PLLC prides itself on its legal service. The attorneys’ depth of experience in commercial litigation, insurance and reinsurance, and labor and employment allows them to concentrate on the specifics of your case. The firm serves DC and Maryland residents and business with professionalism and skill. Call the firm for legal representation at 202-833-9300 or contact Hanson & Molloy PLLC online today.
I want to start a business offshore. Why Bermuda?
The cost of doing business in Bermuda is very low—the island levies no taxes on businesses or on personal income. Companies can expect low annual fees and payroll taxes, but nothing extravagant. Companies have headquartered in Bermuda for many years because of its corporate friendliness and stable politics. The global market respects Bermuda as one of the top insurance centers in the world.
How do I set up a business in Bermuda?
You must file for a license to register your company with the Minister of Finance. Stipulations of this license forbid certain business activities, including doing business in Bermuda—your license will most likely grant you the ability to operate your company from Bermuda. Applications for business license then go to the Bermuda Monetary Authority, which conducts an internal review and an additional independent review. For help navigating this process, contact Hanson & Molloy PLLC. This firm has over 25 years of experience helping companies establish domicile offices in Bermuda.
