How to register a trust in Bermuda?

Ranked 36th in the world's top financial centres rankings, Bermuda is home to the headquarters of Bacardi, the world's largest spirits maker, and Frontline, the world’s largest oil tanker shipping company.

The Bermuda government bonds are assigned an 'A' credit rating by Standard & Poor's. The Bermudian dollar, the country's official currency, is hooked to the US dollar. Both the US and Bermudian dollars are equally accepted for all transactions in the territory of Bermuda.
Interested in opening a trust in Bermuda? YB Case will help you prepare and submit all the necessary documents. The full name of a trust in Bermuda is a discretionary trust company, i.e. a specific legal form of interaction between a beneficiary and a trustee managing the trust's assets.

You can register a trust in Bermuda of these two types:

  • fixed;
  • target.

Meant to hold real estate, securities, money or assets on another person's behalf, a trust in Bermuda is managed by a 3rd party or a private trust company (PTC). If a trust is reorganized into a trust group, the same PTC is used for its management. Establishing a private trust in Bermuda requires no license, provided that all trusts in a group are indicated in a contract.

What regulatory requirements do you have to meet to register a Bermudian trust?

To establish a trust in Bermuda, its founders must be non-residents. It takes one week to conclude a leasing agreement to set up a trust in Bermuda. Opening a bank account takes a month and a half. It takes 3 weeks to get a tax ID.

The minimum required amount of 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:

  • ownership of Bermudian trusts is life-long and guaranteed to be inherited;
  • there is no way of knowing whether you own a trust because no data about it is kept by government agencies;
  • when changing lenders, trusts remain under the protection of a trustee;

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 one register a company in Bermuda?

The tourism industry is very important for Bermuda's economy. Hamilton, Bermuda's capital, is also a major international port frequently visited by cruise liners and luxury yachts. There are a lot of small-sized companies producing pharmaceutical/cosmetic products and plant extracts. Food products of all kinds, petroleum products and cars are imported.

Professional assistance

Need advice on registering trusts in Bermuda? Looking for assistance in preparing a trust agreement/declaration? Please consider contacting YB Case.

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