Bermuda — Taxes
- 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.
Freedom. Anywhere.
Find my programme
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
Prefer to write? Leave us a message and we come back with a slot that suits you.