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.
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%
- 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
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.
Sources (1)
Frequently asked
What is the income tax rate in Bermuda?
The top marginal personal income tax rate in Bermuda is 0%. There is no personal income tax, though employees do carry part of the payroll tax, up to 12.5%.
What is the corporate tax rate in Bermuda?
The headline corporate income tax rate is 0%, though a 15% corporate income tax applies to MNE groups with EUR 750m+ revenue starting in 2025..
Does Bermuda tax capital gains?
Capital gains for individuals: None.