Caribbean & Atlantic
Bermuda: tax at a glance
There is no personal income tax. A payroll tax and a land tax carry the load instead, and starting in 2025 a 15% corporate income tax will apply to large multinational groups.
No personal income tax
Last verified
Ways to relocate to Bermuda
The residency and citizenship routes that lead here, weighed against the tax picture above.
The taxes
- Personal income (top)
- 0%There is no personal income tax, though employees do carry part of the payroll tax, up to 12.5%.
- Corporate income
- 0%, though a 15% corporate income tax applies to MNE groups with EUR 750m+ revenue starting in 2025.
- Capital gains
- None
- VAT
- None
- Dividends (WHT)
- None
- Interest (WHT)
- None
- Royalties (WHT)
- None
- Social security (employee)
- Up to 12.5%, the employee's share of the payroll tax, plus a fixed weekly social insurance contribution.
- Social security (employer)
- Up to about 10–13.5% payroll tax, plus a fixed weekly social insurance contribution.
- Wealth tax
- None
- Inheritance / estate
- Estate stamp duty of up to 20% on Bermuda assets.
- Property tax
- Land tax of up to 18.23% of annual rental value for residential property, and 4.4% for commercial.
- Other
- Payroll tax split between employer and employee, plus customs duty of up to 33.5%.
How the system works
- Tax system
- No personal income tax
- Taxes by citizenship
- No
- Exit tax
- No
- CFC rules
- No
- CRS
- Participating
A special regime for new arrivals
None for individuals. A 15% corporate income tax applies from 1 January 2025 to multinational groups with EUR 750m+ revenue, under OECD Pillar Two.
The rates below are indicative headline figures (top marginal, standard, and headline rates), reviewed 2026-07. Brackets, surcharges, and state, provincial or cantonal taxes vary. Treat this as a reference map, not advice.