# Banking Licence / Deposit Company Licence / Restricted Banking Licence (Bermuda)

Source page: https://protegra.io/licensing/licences/bank/bermuda/

The Banking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999) is issued by Bermuda Monetary Authority (BMA) under Banks and Deposit Companies Act 1999. Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Banking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999) [1] |
| --- | --- |
| Also known as | Bermuda bank licence · Bermuda banking licence · BMA banking licence · Bermuda deposit company licence · Bermuda restricted banking licence · Bermuda restricted bank licence |
| Issued by | [Bermuda Monetary Authority](https://protegra.io/licensing/regulators/bma-bermuda/) |
| Jurisdiction | [Bermuda](https://protegra.io/licensing/jurisdictions/bermuda/) |
| Licence family | [Bank / credit institution](https://protegra.io/licensing/licences/bank/) |
| Legal basis | Banks and Deposit Companies Act 1999 [1] |
| Passporting | Domestic only |

## What it lets you do

| [Taking deposits from the public](https://protegra.io/licensing/activities/deposit-taking/) | Accepting deposits or other repayable funds from the public, the activity reserved to credit institutions. |
| --- | --- |
| [Lending](https://protegra.io/licensing/activities/credit-granting/) | Granting loans, including consumer credit, mortgage credit, factoring and financing of commercial transactions. |
| [Execution of payment transactions](https://protegra.io/licensing/activities/payment-execution/) | Executing direct debits, card payments and credit transfers, including standing orders, from a payment account. |

## Where it is valid

_Valid in Bermuda._

## Buying a company that already holds it

**Prior notification with an objection period.** Anyone intending to become a 10% (or majority) shareholder controller of a BMA-licensed undertaking, including a digital asset business, must first give the Authority written notice; the acquisition can proceed once the BMA confirms no objection, or once a statutory review period elapses without a written objection. Bermuda's regime also recognises a majority-controller threshold as a second trigger point. [2]

## Bank in other countries

| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
| --- | --- | --- | --- | --- | --- |
| [Abu Dhabi Global Market (ADGM)](https://protegra.io/licensing/licences/bank/adgm/) | Financial Services Permission for Accepting DepositsFinancial Services Permission for Accepting Deposits (Category 1 Commercial Bank) | FSRA |: | USD 70,000 |: |
| Bermuda | Banking Licence / Deposit Company Licence / Restricted Banking LicenceBanking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999) | BMA |: |: |: |
| [Cayman Islands](https://protegra.io/licensing/licences/bank/cayman-islands/) | Bank LicenceBank Licence (Category A and Category B) under the Banks and Trust Companies Act | CIMA |: |: |: |
| [Czech Republic](https://protegra.io/licensing/licences/bank/czech-republic/) | Commercial Bank licence | CNB |: | CZK 200,000 |: |
| [Dubai International Financial Centre (DIFC)](https://protegra.io/licensing/licences/bank/difc/) | Bank licenceFinancial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank) | DFSA |: | USD 70,000 |: |
| [Estonia](https://protegra.io/licensing/licences/bank/estonia/) | Credit institution authorisation (bank) | FI |: | EUR 5,000 | ~6 mo |
| [Georgia](https://protegra.io/licensing/licences/bank/georgia/) | Commercial bank licence | NBG |: |: | ~6 mo |
| [Germany](https://protegra.io/licensing/licences/bank/germany/) | CRR) | BaFin |: |: | ~6 mo |
| [Ireland](https://protegra.io/licensing/licences/bank/ireland/) | Banking LicenceBanking Licence (Section 9 Central Bank Act 1971) | CBI |: |: | ~6 mo |
| [Latvia](https://protegra.io/licensing/licences/bank/latvia/) | Credit institution licence (bank) | LB |: |: | 4-13 mo |
| [Lithuania](https://protegra.io/licensing/licences/bank/lithuania-specialised/) | Specialised bank licence | LB |: | EUR 4,157 | ~6 mo |
| [Lithuania](https://protegra.io/licensing/licences/bank/lithuania/) | Bank licence | LB |: |: |: |
| [Luxembourg](https://protegra.io/licensing/licences/bank/luxembourg/) | Credit institution authorisation | CSSF |: | EUR 75,000 | ~6 mo |
| [Malta](https://protegra.io/licensing/licences/bank/malta/) | Credit institution licence | MFSA |: | EUR 35,000 | ~6 mo |
| [Netherlands](https://protegra.io/licensing/licences/bank/netherlands/) | Bank licenceBank licence (Vergunning bank / kredietinstelling) | DNB |: | EUR 44,300 | ~6 mo |
| [Poland](https://protegra.io/licensing/licences/bank/poland/) | Commercial Bank licence | KNF |: |: |: |
| [Singapore](https://protegra.io/licensing/licences/bank/singapore/) | Banking LicenceBanking Licence (Full Bank, Wholesale Bank, Digital Bank) | MAS |: |: |: |
| [Slovakia](https://protegra.io/licensing/licences/bank/slovakia/) | Banking licence | NBS |: |: |: |
| [Spain](https://protegra.io/licensing/licences/bank/spain/) | Commercial bank licence | BdE |: |: | ~6 mo |
| [Switzerland](https://protegra.io/licensing/licences/bank/switzerland-fintech/) | FinTech licence (PersonsFinTech licence (Persons pursuant to Article 1b Banking Act | FINMA |: | CHF 100 |: |
| [Switzerland](https://protegra.io/licensing/licences/bank/switzerland/) | Banking licence | FINMA |: |: |: |
| [United Arab Emirates](https://protegra.io/licensing/licences/bank/uae-commercial/) | Commercial Bank Licence | CBUAE |: |: |: |

Values come from each licence's page, where every figure has its source.

## Sources

1. [bermudalaws.bm: Banks and Deposit Companies Act 1999](https://www.bermudalaws.bm/Laws/Consolidated%20Law/1999/Banks%20and%20Deposit%20Companies%20Act%201999): retrieved 2026-09-24
2. [charltonsquantum.com: bermuda digital assets regulation](https://charltonsquantum.com/bermuda-digital-assets-regulation/): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.