Bermuda vs Hong Kong: which jurisdiction wins?

Bermuda vs Hong Kong — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Bermuda	Hong Kong
Tax headline	0% (15% CIT for in-scope MNEs from 2025)	16.5% profits tax, territorial system
Formation days	7	7
First-year cost	$6,500	$3,200
Treaties	Limited	47+
Substance	Economic Substance Act 2018	Offshore claim requires substance and operational evidence
Banking	Butterfield, HSBC Bermuda, Clarien	HSBC, Standard Chartered, plus VASP-licensed banks since 2024

Talk to a partner before you incorporate.

Wrong jurisdiction, wrong substance, or wrong bank shortlist is a 12-month problem. A 30-minute briefing fixes 80% of it.