There are no income, profit or capital gains taxes in Bermuda. This is particularly attractive to holding companies with subsidiary operations in, or significant income arising from, more than one country. Since the ultimate parent is incorporated in a tax neutral jurisdiction, it is that much more difficult for a particular taxing authority to assert its right to tax all of the group’s operations or profits. In addition, the absence of withholding taxes in Bermuda is attractive to a Bermuda company’s shareholders. There are no restrictions on a Bermuda company’s ability to transfer funds in and out of Bermuda or on paying dividends to non-resident shareholders.