ORVELION
Jurisdictions

Bermuda

Bermuda grants an indefinite right to reside and seek employment through its Economic Investment Residential Certificate, against a 2.5 million BMD investment (pegged 1:1 to the US dollar) held for five years, in a territory with no personal income tax, no capital gains tax and no VAT. Two things to keep honest: 90 days of presence a year are required for five years, and this is residency, not a route to a passport.

Bermuda sits in the North Atlantic, roughly 1,000 kilometres east of North Carolina, and the UN's own M49 classification places it in North America rather than the Caribbean where habit often files it — the same region as the United States and Canada. What the territory sells is an indefinite right to reside for 2.5 million BMD, held five years, in a place with no personal income tax, no capital gains tax and no VAT, though payroll tax and a steeply progressive land tax mean it is not tax-free either. Ninety days a year of real presence are required throughout, and there is no citizenship-by-investment programme at all — British Overseas Territories citizenship runs on a separate track under British law. Compare the entry cost with other residency-by-investment programmes, and see how figures are checked in our methodology.

Programme status

ProgrammeStatusVerified onOfficial source
Bermuda Economic Investment Residential CertificateOpenMinistry of Economy and Labour — The Economic Investment Residential Certificate Policy (en vigueur le 7 juin 2024)

The programme

Residency by investment

Bermuda Economic Investment Residential Certificate

From
$2 500 000≈ $3 337 500 for a family of four, fees included
Processing time
1–3 months
Physical presence
Holders must spend at least 90 days in Bermuda in each calendar year for the five years following the grant, and keep the qualifying investment at 2.5 million or more over the same period; both are verified at the end of year five to retain the certificate. Two or more years of continuous residence outside Bermuda without prior leave from the Minister can trigger revocation.

Read the full Bermuda Economic Investment Residential Certificate page →

Investment routes

RouteOfficial minimumReal total, family of fourHoldRecoverable
Real estateResidential or commercial property in Bermuda, held at or above 2,500,000 BMD (pegged 1:1 to the US dollar) for five years. Non-Bermudians need a land-holding licence: 12.5% of the price for a freehold house (minimum annual rental value 126,000 BMD), 8% for a leasehold condominium (minimum ARV 25,800 BMD). Licence fee and stamp duty may be counted toward the 2.5 million.$2 500 000≈ $3 337 5005 yrNo
BusinessAlso accepted for this threshold — capital transferDirect or indirect equity in an existing Bermuda-based business, including companies listed on the Bermuda Stock Exchange, or the development and launch of a new Bermuda business. Holding listed securities of exempted undertakings does not count. Investing in a business brings an automatic work-permit approval for that business.$2 500 000≈ $3 337 5005 yrNo
DonationA non-refundable contribution to Bermuda’s Sinking Fund (public debt reduction), to the Bermuda Trust Fund, or a donation to a registered Bermuda charity working in sports development, youth, seniors or health. Government bonds were removed from the eligible list in June 2024.$2 500 000≈ $3 337 500—No

Timeline

The programme announces 1–3 months. That is the official figure, not a commitment.

Neither the policy nor the Department of Immigration publishes a processing standard: the certificate is issued once the Ministry of Economy and Labour has reviewed a complete file assembled through the Bermuda Business Development Agency’s concierge. Practitioners describe a matter of weeks to a few months; treat the range above as an order of magnitude, not an official commitment.

Eligibility and exclusions

Family
Spouse (or legally recognised equivalent) and children aged 18 or under, or 18 to 25 if enrolled in higher education. Dependants receive the right to reside, not to work: employment requires a work permit under the ordinary policy. On death or divorce, the spouse must reapply in their own right.
Physical presence
Holders must spend at least 90 days in Bermuda in each calendar year for the five years following the grant, and keep the qualifying investment at 2.5 million or more over the same period; both are verified at the end of year five to retain the certificate. Two or more years of continuous residence outside Bermuda without prior leave from the Minister can trigger revocation.

Tax at a glance

  • No personal income tax, no capital gains tax, no VAT
  • Payroll tax instead: employer rates up to 9.5% by payroll size, plus an employee portion from 0.25% to 12.5% by band, capped at 1,000,000 BMD of remuneration
  • Land tax twice a year on the annual rental value, progressive — the top band over 120,000 BMD of ARV is taxed at 50%
  • Corporate income tax of 15% since 1 January 2025, but only for multinational groups with revenue of 750 million EUR or more
  • Non-Bermudians pay a land-holding licence on purchase: 12.5% for a house, 8% for a condominium

No income tax — but not no tax

Bermuda levies no personal income tax, no capital gains tax and no VAT. That is the substance behind its reputation, and it applies to residents and non-residents alike: the question of tax residence, which drives everything in a worldwide-tax country, matters far less here. What Bermuda does instead is tax employment, land and imports.

Payroll tax

Payroll tax is charged on remuneration paid for work in Bermuda. The employer pays a rate that rises with payroll size — from 0.5% for the smallest payrolls to 9.5% above 1,000,000 BMD, and 9.75% for exempted undertakings — and may withhold an employee portion banded from 0.25% on the first 48,000 BMD to 12.5% between 500,001 and 1,000,000 BMD. Remuneration above 1,000,000 BMD is not taxed at all. Foreign-source income, investment income and pensions sit outside payroll tax entirely.

Land tax and the cost of owning

Owners and long-term tenants pay land tax twice a year on the property's annual rental value (ARV), a notional figure set by the Land Valuation Office. The scale is steeply progressive: the band above 120,000 BMD of ARV is taxed at 50%. Since a non-Bermudian may only buy a freehold house with an ARV of at least 126,000 BMD, the homes open to investors sit in the top bands by construction — budget for it. Buying also triggers a land-holding licence of 12.5% for a house or 8% for a condominium, plus stamp duty.

Corporate income tax — only for the largest groups

Since 1 January 2025 Bermuda applies a 15% corporate income tax, aligned with the OECD Pillar Two rules, but only to multinational groups with consolidated revenue of 750 million EUR or more. A personal holding company, a family office or an ordinary local business is outside it.

Residency is not citizenship

The Economic Investment Residential Certificate gives an indefinite right to reside; it does not lead to Bermudian status, and Bermuda has no citizenship-by-investment programme. If your goal is a second passport, compare the Caribbean citizenship programmes such as St Kitts and Nevis or Antigua and Barbuda; if it is a tax-efficient base, weigh Bermuda against the United Arab Emirates or Panama. See how each figure is checked in our methodology, and explore the options on our residency hub and tax hub.

Real estate

RouteOfficial minimumReal total, family of four
Real estate$2 500 000≈ $3 337 500

Compare it with another jurisdiction

—ThailandUnited States
Official minimum$500 000lower$800 000
Real total, family of 4 (fees included)≈ $667 500lower≈ $1 068 000
Announced processing1–2 monthsfaster24–48 months
Presence requiredNo minimum stay is required to keep the visa, and the usual 90-day reporting is relaxed to once a year — well suited to a part-time base rather than full relocation.A green card is a residence you must actually keep: extended absences can be treated as abandonment.
Investment routesGovernment bonds, Business, Real estateBusiness
A route returns the capitalYesIdentical on this lineYesIdentical on this line
Open to Russian applicantsYesIdentical on this lineYesIdentical on this line
RegionAsiaNorth America

Open the country page · ThailandOpen the country page · United States

Frequently asked questions

Does Bermuda have an income tax?

No. Bermuda levies no personal income tax, no capital gains tax and no VAT. It taxes employment through a payroll tax (employer rates up to 9.5%, plus an employee portion capped at 1,000,000 BMD of remuneration), property through a land tax on annual rental value, and imports through customs duties.

How much do I need to invest for Bermuda residency?

At least 2,500,000 Bermuda dollars, pegged 1:1 to the US dollar, in real estate, a Bermuda business, the Sinking Fund, the Bermuda Trust Fund or a registered charity. The investment must stay at or above that level for five years, and you must spend 90 days a year in Bermuda over the same period.

Does Bermuda residency lead to a passport?

No. The Economic Investment Residential Certificate is an indefinite right to reside and seek employment. It does not confer Bermudian status, and Bermuda has no citizenship-by-investment programme. British Overseas Territories citizenship is a separate process under British law.

Who can I include in the application?

Spouse (or legally recognised equivalent) and children aged 18 or under, or 18 to 25 if enrolled in higher education. Dependants receive the right to reside, not to work: employment requires a work permit under the ordinary policy. On death or divorce, the spouse must reapply in their own right.

Freedom. Anywhere.

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What we do for you

Citizenship or residence, the honest answer often is not the one you arrived with. We take the whole procedure with you — eligibility, the route that fits your situation, the file, the follow-up — with one person on your side throughout.

For Bermuda specifically, you are talking to someone who already knows the file: who to speak to on the ground, what the unit actually asks for, and the points where applications stall.

  • One point of contact, from the first call to the certificate
  • Vetted partners on the ground — law firms, licensed agents, banks — introduced, not listed
  • It starts with a short qualifying call, and no, it is not a sales call

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