In a previous interview, Premier and Finance Minister David Burt said a drop in the number of registered business is due to a clean-up exercise. As the latest figures come out, we take a look at the numbers…
The number of registered companies in Bermuda fell significantly last year – but it’s not due to the Corporate Income Tax, according to David Burt.
In June, the Premier and Finance Minister told us that a clean-up exercise at the Registrar of Companies had removed companies that were inoperative or in arrears.
He also took issue with media reporting at the time.
The Registrar of Companies informed Bermuda Broadcasting that a total of 1,326 business entities have been struck off for 2020 through 2024 – that’s 821 Exempted companies and Limited Liability Companies, and 505 incorporated local companies and LLCs.
We take a look at the numbers – WATCH the report above.
