Bermuda Monetary Authority - Personal Declaration

The Bermuda Monetary Authority carefully scrutinises the ownership of Bermuda entities and must be satisfied that the persons who wish to control such entities are persons of integrity and good standing.

Any information provided to the Authority is treated in the strictest of confidence under the provisions of Section 31 of the Bermuda Monetary Authority Act, 1969 (as amended).

Due Diligence Questions - Related to conducting business in or from Bermuda

  • Applicant’s Full Name and Address.
  • Occupation.
  • Passport No. and Place of Issue (Passport or Photo I.D. to be attached).
  • Employer and Address.
  • Position in Business.
  • Name and address of Bankers.
  • Source of Funds coming into Bermuda.

Have you (the applicant) been involved in any of the following:

  • (a) criminal proceedings.
  • (b) bankruptcy proceeding.
  • (c) licensing revocation proceeding.

Where an owner is an individual

  • The name, address, nationality and occupation of the person.
  • A Personal Declaration signed by each individual proposing to hold 5% or more of the share capital of the Company.

Where an owner is a publicly quoted company

  • The latest Annual Report to shareholders except where either are listed on an Appointed Stock Exchange as defined in the Companies Act.

Where an owner is a private company

  • A copy of the latest audited financial statements of the private company.
  • A complete list of shareholders giving names, addresses, nationalities, occupations and percentages of ownership.
  • A Personal Declaration on each shareholder.

Where an owner is a trust

  • The name of the trust, the date on which it was created and the country in which it was created.
  • The name and nationality of the settlor.
  • The name(s) and addresses of the trustee(s).
  • The names, addresses, nationalities and occupations (if any) of the beneficiaries.
  • Personal Declarations on the beneficiaries (if these are minors then references on their parents).

Where either of the persons listed in above have an existing interest in a Bermuda company or partnership (whether local or exempted) personal declarations and or financial statements will not normally be requested.