DIFC (Dubai) vs Bermuda: which jurisdiction wins?

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

	DIFC (Dubai)	Bermuda
Tax headline	0% on qualifying income (9% otherwise)	0% (15% CIT for in-scope MNEs from 2025)
Formation days	14	7
First-year cost	$12,000	$6,500
Treaties	140+	Limited
Substance	Mandatory office, directors, employees in DIFC	Economic Substance Act 2018
Banking	DIFC-licensed banks and prime brokers	Butterfield, HSBC Bermuda, Clarien

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