Bermuda vs Liechtenstein: which jurisdiction wins?

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

	Bermuda	Liechtenstein
Tax headline	0% (15% CIT for in-scope MNEs from 2025)	12.5% corporate
Formation days	7	14
First-year cost	$6,500	$8,500
Treaties	Limited	22+
Substance	Economic Substance Act 2018	Real substance required
Banking	Butterfield, HSBC Bermuda, Clarien	LGT, VP Bank, LLB

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.