Exempt companies wishing to establish a branch in Bermuda require authorization and are subject to the annual business fee set out above. The agreement, signed by Bermuda`s Premier and Finance Minister Paula Cox, will create a legal framework to facilitate more trade and investment between nations, limit withholding taxes and allocate nations` tax rights, to ensure that investors` income is not taxed twice. Bermuda signed a similar agreement in 2010 with Bahrain`s permit companies are foreign companies that have been granted permission to conduct operations in or from Bermuda. Authorization will be obtained upon application from the Minister of Finance to trade and operate in Bermuda. .