United Arab Emirates vs Bermuda: which jurisdiction wins?

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

	United Arab Emirates	Bermuda
Tax headline	9% corporate tax above AED 375k (free zones 0% on qualifying)	0% (15% CIT for in-scope MNEs from 2025)
Formation days	10	7
First-year cost	$6,500	$6,500
Treaties	140+	Limited
Substance	Free zone QFZP requires adequate substance	Economic Substance Act 2018
Banking	Emirates NBD, ADCB, Mashreq, plus Wio and crypto-friendly EMIs	Butterfield, HSBC Bermuda, Clarien

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