Bermuda

Tax residency in Bermuda is generally triggered by physical presence exceeding 183 days in a calendar year. Foreign income treatment: exempt. No statutory CFC rules apply, which can facilitate the use of foreign holding structures without automatic income attribution.

No personal income tax, capital gains, or withholding taxes. 15% CIT introduced under OECD Pillar Two. Work From Bermuda certificate for digital nomads (12 months). Very high cost of living.

The standard corporate income tax rate is 15%. Establishing a legal presence here involves a higher degree of administrative complexity, often requiring local legal assistance.

Account opening in Bermuda can be challenging for foreign nationals or non-resident businesses, and enhanced due diligence is common practice. Internet connectivity is generally good, with consistent broadband availability in business districts and main population centres.

Bermuda is a member of the Financial Action Task Force (FATF) and meets its anti-money-laundering standards. EU tax blacklist status: not_listed. Structures involving this jurisdiction may attract additional scrutiny or reporting obligations under EU member state rules.

Based on our scoring model, Bermuda ranks highest for High Net Worth Individual and Founder / Entrepreneur. It offers a strong proposition for high net worth individual (score: 75/100). It offers a strong proposition for founder / entrepreneur (score: 74/100).