Ireland vs Bermuda: which jurisdiction wins?

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

	Ireland	Bermuda
Tax headline	12.5% trading, 15% Pillar 2 for large groups	0% (15% CIT for in-scope MNEs from 2025)
Formation days	5	7
First-year cost	$5,500	$6,500
Treaties	75+	Limited
Substance	Substance critical (CFC, BEPS)	Economic Substance Act 2018
Banking	BOI, AIB, plus US bank branches	Butterfield, HSBC Bermuda, Clarien

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