Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right BMA class and leads the file all the way to the compliant launch, including banking and payment rails.
Get a crypto license in Bermuda.
Bermuda is the premium offshore regime - the Digital Asset Business Act 2018, run by the BMA, a regulator that institutions already respect. Three licence classes, from a pilot sandbox to a full authorisation, with real client-asset and governance rules on a 0% tax base. We map you to the right class and build it end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Bermuda in brief
The premium offshore regime, respected by name.
Bermuda regulates digital-asset business under the Digital Asset Business Act 2018, supervised by the Bermuda Monetary Authority. The BMA is not a light-touch registrar - it is a serious insurance and financial regulator whose approval carries real weight with banks and institutional counterparties. The Act covers the full range of digital-asset activity: issuing, selling or redeeming digital assets, operating an exchange, providing custodial wallet services, acting as a payment service provider using digital assets, and market making. This is a jurisdiction that expects a real business and supervises it closely.
The regime is built in three classes, so the licence fits the stage. A Class T licence is a temporary authorisation for pilot testing; a Class M licence is a modified, sandbox-style authorisation for start-ups, with restrictions and a set period; a Class F licence is the full, unrestricted authorisation for established businesses. What you build in each case is a Bermuda company with a head office and senior representation on the island, fit-and-proper controllers, client-asset protection, cybersecurity and an AML/ATF programme - all on a 0% corporate tax base. We match the class to your stage and build the file.
The premium offshore regime: the Digital Asset Business Act 2018, run by the respected BMA.
Three classes - test, sandbox, full - with real client-asset and governance rules, on a 0% tax base.
The three licence classes
A class for each stage of the business.
The DABA scales the licence to maturity - test, sandbox or full authorisation. We place you in the right class and build toward the next.
Three classes by stage: T (pilot), M (sandbox), F (full authorisation).
CLASS T
Test / pilot
A temporary licence for a defined pilot - proving a product or service under BMA oversight for a limited period before committing to the full path.
A temporary licence for a defined pilot - proving a product or service under BMA oversight for a limited period before committing to the full path.
- ✓Time-limited pilot authorisation
- ✓Defined scope and conditions
- ✓A route to prove the model
CLASS M
Sandbox for start-upsModified / sandbox
A modified, sandbox-style licence for start-ups innovating or testing new products - with requirements and restrictions the BMA tailors, for a set period.
Class F is the full standard; M and T are stepping stones. BMA and government fees apply.
- ✓Modified requirements and restrictions
- ✓Set period, with a path to Class F
- ✓Built for innovation under supervision
CLASS F
Full licence
The full, unrestricted authorisation for established digital-asset businesses - any or all DAB activities, held to the complete standard.
The full, unrestricted authorisation for established digital-asset businesses - any or all DAB activities, held to the complete standard.
- ✓Any or all DAB activities
- ✓Full prudential and conduct standards
- ✓The end-state authorisation
BMA application and annual fees apply, and the Authority assesses capital and financial adequacy against your plan - confirmed for your case before any work begins. Class F carries the fullest requirements; Class M and T are stepping stones toward it.
Why Bermuda
A regulator with a reputation, on a 0% base.
The BMA name opens institutional doors that lighter offshore registrations cannot - and the tax base underneath is a genuine zero.
✓
0% corporate tax
Bermuda levies no corporate income tax on ordinary business. The activity runs untaxed at the Bermuda level - only government and BMA fees apply, laid out up front.No income or capital-gains tax.
✓
A regulator with real standing
The BMA supervises one of the world's major insurance markets. A Bermuda digital-asset licence reads to banks and institutions as a serious, credible authorisation - not a badge.BMA - top-tier credibility.
✓
A class for every stage
Test, sandbox or full - the licence scales with the business. You carry the requirements your stage deserves and grow into the next class.Test, sandbox or full.
✓
The full activity range
Issuance, exchange, custody, payment services and market making all sit under one Act - the whole model can be licensed in one place.Issuance, exchange, custody, payments.
✓
Client-asset protection built in
The DABA requires real safeguarding and governance. It is a cost, and it is precisely what makes an exchange or custodian bankable and institutional-ready.Safeguarding makes it bankable.
✓
The honest structure wins
The BMA grants on the file - the plan, the people, the controls and the AML. We build all of it to the standard the Authority and correspondent banks read as legitimacy.Granted on the file, built to standard.
How it compares
How Bermuda differs from other routes.
Bermuda is the institutional-grade offshore play - a respected regulator and a staged licence on a 0% base. The honest comparison is below.
Bermuda vs other jurisdictions
| Feature |  Bermuda | Other jurisdictions |
|---|---|---|
| Model today | BMA licence - classes T/M/F | From registration to full licensing |
| Corporate tax | 0% | 0% offshore, or 9-30% onshore |
| Regulator standing | Top-tier (insurance heritage) | Varies widely |
| Setup | From ~4-6 months | Weeks to years |
Model today
BermudaBMA licence - classes T/M/F
Other jurisdictionsFrom registration to full licensing
Corporate tax
Bermuda0%
Other jurisdictions0% offshore, or 9-30% onshore
Regulator standing
BermudaTop-tier (insurance heritage)
Other jurisdictionsVaries widely
Setup
BermudaFrom ~4-6 months
Other jurisdictionsWeeks to years
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Bermuda | DABA - classes T/M/F (BMA) | 0% corporate | Head office + senior rep, ~4-6 months |
 Cayman | Registration + licence (CIMA) | 0% corporate | Custody/platform licensed, ~4-6 months |
 The Bahamas | DARE registration (SCB) | 0% corporate | Client-asset + capital rules, ~4-6 months |
 BVI | VASP registration by category (FSC) | 0% corporate | Authorised representative, ~4-6 months |
BermudaLicense typeDABA - classes T/M/F (BMA)
Taxation0% corporate
RequirementsHead office + senior rep, ~4-6 months
CaymanLicense typeRegistration + licence (CIMA)
Taxation0% corporate
RequirementsCustody/platform licensed, ~4-6 months
The BahamasLicense typeDARE registration (SCB)
Taxation0% corporate
RequirementsClient-asset + capital rules, ~4-6 months
BVILicense typeVASP registration by category (FSC)
Taxation0% corporate
RequirementsAuthorised representative, ~4-6 months
Doing it properly
What the BMA licence file contains.What the BMA file contains.
The DABA expects a real, well-run business on the island. The checklist below is what we build and file - all of it assessed by the Authority.
01
Bermuda company - incorporated with clean governance and ownership to the UBOs.
02
The right DABA class - T for a pilot, M for a sandbox start-up, F for a full business.
03
A head office in Bermuda and a senior representative resident on the island.
04
Fit-and-proper controllers, officers and beneficial owners.
05
Detailed business plan, policies and procedures across the DAB activities you carry on.
06
Client-asset protection and safeguarding, with segregation where custody is involved.
07
A cybersecurity framework appropriate to the activity.
08
An AML/ATF programme to Bermuda's regulations, with a compliance officer and reporting officer.
09
Adequate capital and financial resources, assessed by the BMA against the plan.
10
An auditor appointed, with ongoing BMA reporting and supervision.
01
Bermuda company.
02
The right DABA class (T/M/F).
03
Head office + senior representative.
04
Fit-and-proper controllers and UBOs.
05
Business plan, policies, procedures.
06
Client-asset protection.
07
Cybersecurity framework.
08
AML/ATF + compliance officer.
09
Adequate capital and resources.
10
Auditor + ongoing BMA reporting.
Reflects the Digital Asset Business Act 2018 and BMA guidance as of 2026. The BMA is a serious regulator - the file and the ongoing duties are real.DABA 2018 + BMA guidance, as of 2026.
How it works
From first call to a BMA licence.
01
Strategy and class
Which class fits your stage, the honest timeline and the controls plan - fixed in writing before anything incorporates.Which class, timeline, controls - in writing.
02
The Bermuda company
Incorporated with clean governance and ownership transparent to the UBOs.Bermuda company, clean governance.
03
The BMA file
The class application, the business plan and policies, the client-asset and cybersecurity build and the AML programme.Class, plan, controls, AML.
04
Presence and banking
The head office and senior representative in place; accounts arranged on disclosure.Head office, rep, accounts.
05
Licence and run
The BMA grants the class; ongoing reporting and supervision keep the structure clean, with a path from M to F.BMA grants; path from M to F.
Quick facts
RegulatorBMA
LawDigital Asset Business Act 2018
ClassesT, M, F
VehicleBermuda company
Local presenceHead office + senior rep
Corporate tax0%
Client-asset rulesReal safeguarding
SetupFrom ~4-6 months
The BMA name is the product - it opens institutional and banking doors lighter regimes cannot. The upside is a respected licence on a 0% tax base, staged to your maturity.
On the ground for Bermuda
Run from our Dubai desk, filed with the BMA.
Prifinance - Bermuda desk
Run from our Dubai office
33 Level, Al Saqr Business Tower, Dubai, UAE
01
Bermuda company
The vehicle the licence sits on - incorporated clean, owned transparently to the UBOs.The vehicle, built clean.
02
The BMA class
Test, sandbox or full, chosen for your stage, with the plan and controls assembled the way the Authority expects.Test, sandbox or full.
03
Presence and AML
The head office and senior representative, the client-asset safeguarding and the AML programme - arranged, not claimed.Head office, rep, safeguarding.
04
Banking and rails
Accounts or a licensed payment provider, arranged on full disclosure with a respected regime behind you.Arranged on full disclosure.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Bermuda.
A genuine zero on direct tax for ordinary business - the appeal is the absence of a rate, paired with a top-tier regulator.
Corporate income tax: 0%
Bermuda levies no corporate income tax on ordinary business. Profits from the digital-asset activity are not taxed at the Bermuda level - the company runs on fees, not a tax bill.No Bermuda income tax.
No capital gains tax
There is no Bermuda capital gains tax - gains on digital assets and other property are not caught by a separate CGT charge.No capital-gains charge.
Large-group top-up only
A 15% corporate income tax applies only to Bermuda entities in very large multinational groups under the global minimum tax - not to ordinary crypto businesses. We flag it if it reaches you.15% only for big MNEs.
Only government and BMA fees
The real running cost is the annual company fee and BMA fees, not tax. We set them out in the plan.Government + BMA, not tax.
A respected, stable base
Bermuda's standing and stability are part of the value - the 0% sits inside a jurisdiction banks and institutions trust, not a fringe one.Standing and stability.
Home-country tax still matters
Zero at the Bermuda level does not switch off tax where owners live and manage. We flag the residence and controlled-company questions up front.Owners' residence still counts.
Tax summary
Corporate income tax0% (ordinary business)
Capital gains taxNone
Large multinational groups15% global-minimum top-up
Crypto-specific taxNone - general position
Regulator standingTop-tier (BMA)
Real running costGovernment + BMA fees
*As of 2026. A 0% Bermuda base does not remove home-country tax on owners - we model that alongside the structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the BMA file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: the Bermuda company, the BMA class file, the client-asset and cybersecurity build and the AML/KYC policy set. His document sets are the reason reviews finish cleanly.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a clean, licensed business.
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Bermuda · DABA 2018
Launch your crypto project in Bermuda with expert support.
Full-service setup - the company, the BMA class and the controls, assembled as one.
Get a consultation →Free legal opinion
Is Bermuda the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which class, jurisdiction or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Bermuda crypto licence, answered honestly.
What is the Digital Asset Business Act?+
Bermuda's digital-asset law, in force since 2018 and run by the BMA. It licenses digital-asset business across issuance, exchange, custody, payment services and market making - a serious, respected regime, not a light registration.
What are classes T, M and F?+
Class T is a temporary pilot licence; Class M is a modified, sandbox-style licence for start-ups with tailored restrictions; Class F is the full, unrestricted authorisation for established businesses. The licence scales with your stage.
Do I need people in Bermuda?+
Yes - a head office on the island and a senior representative, plus fit-and-proper controllers and officers. The BMA expects real presence, and we arrange it.
Why is the BMA worth it?+
Because its name opens doors. The BMA is a top-tier insurance and financial regulator, so its digital-asset licence carries real credibility with banks and institutions - reach a lighter registration does not give.
How is it taxed?+
At the Bermuda level, not at all for ordinary business - no corporate income tax, no capital gains. A 15% global-minimum top-up reaches only very large multinational groups, and we flag it if it applies.
How long does it take?+
Realistically a few months once the file is complete, faster for Class T or M as a stepping stone. The plan, controls and AML in order are what keep the BMA review moving.
Bermuda, Cayman or the Bahamas?+
All are 0% offshore routes with real regimes. Bermuda leads on regulator standing and the staged classes; Cayman on fund-world familiarity; the Bahamas on staking and stablecoin frameworks. Model and banking decide.
Why Bermuda with you?+
Because the BMA grants on the file - the class, the controls, the presence and the AML. We build Bermuda applications to the standard the Authority and the banks read, which is what makes the licence usable.
What is DABA?+
Bermuda's digital-asset law, run by the BMA since 2018.
Classes T, M, F?+
Pilot, sandbox, full - by stage.
People in Bermuda?+
Head office + senior representative.
Why the BMA?+
Top-tier standing - opens banking doors.
Tax?+
0% ordinary; top-up only for big groups.
How long?+
A few months once the file is complete.
Vs Cayman / Bahamas?+
Bermuda leads on regulator standing.
Why with us?+
File and controls to BMA and bank standard.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
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Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
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Google
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Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which class, jurisdiction or route fits your business.Free legal opinion: which Bermuda class fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right class, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Bermuda Monetary Authority or the Government of Bermuda. Licences are granted by, and obtained directly from, the competent authority.