Does Bermuda tax foreign income?

Not taxed. In one line: 0% on foreign income · 0% on local income (payroll tax on wages).

Can I run an online business from Bermuda?

Effective tax about 0% with the cheapest legal set-up, which costs about USD 1,000 a year: remote work for a foreign employer or own foreign company; self-employment inside Bermuda pays payroll tax.

What is the catch in Bermuda?

15% corporate tax now applies to large groups.

Moving to Bermuda: tax, residence and real costs (2026)

Bermuda: 0% on foreign income · 0% on local income (payroll tax on wages). The cheapest route to residence is work from Bermuda certificate (USD 263, one year, renewable): about USD 300 in fees doing it yourself, with no investment, in about 1 months. Living costs about USD 4,200 a month for one person in the main city, and around USD 3,000 on a bare-minimum budget.

Key facts

Tax in one line	0% on foreign income · 0% on local income (payroll tax on wages)
Foreign income	not taxed
Gains · dividends	0 · 0
Wealth · inheritance tax	none · none (stamp duty on some documents)
Cheapest residence	Work from Bermuda certificate (USD 263, one year, renewable)
Money needed	About USD 300 in fees doing it yourself, with no investment
Time	about 1 months
Doable yourself?	Yes, with a checklist
Days you must spend there	residence
Citizenship	practically none
Online business	0% effective, about USD 1,000 a year to run: remote work for a foreign employer or own foreign company; self-employment inside Bermuda pays payroll tax
Living (one person a month)	main city ~USD 4,200; bare minimum ~USD 3,000; family of four ~USD 10k
Good for	captive insurance, reinsurance, exempted companies
Common set-up	a captive insurer or exempted company; family trusts

Pros and cons

Pros	Cons
No income, gains or inheritance tax Insurance and reinsurance capital of the world Close to New York	Among the most expensive places to live Foreigners can buy only high-value homes Residence costly

Questions

How much does residence in Bermuda cost?: Work from Bermuda certificate (USD 263, one year, renewable): about USD 300 in fees doing it yourself, with no investment, about 1 months.
Does Bermuda tax foreign income?: Not taxed. In one line: 0% on foreign income · 0% on local income (payroll tax on wages).
What does it cost to live in Bermuda?: Living costs about USD 4,200 a month for one person in the main city, and around USD 3,000 on a bare-minimum budget (based on livingcost.org, 2026).
Can I run an online business from Bermuda?: Effective tax about 0% with the cheapest legal set-up, which costs about USD 1,000 a year: remote work for a foreign employer or own foreign company; self-employment inside Bermuda pays payroll tax.
What is the catch in Bermuda?: 15% corporate tax now applies to large groups.

Compare

Bahamas: 0% on foreign income · 0% on local income · no gains or estate tax
Cayman Islands: 0% on foreign income · 0% on local income · no gains or estate tax
Puerto Rico (Act 60): US citizens: 0% on Puerto Rico dividends, interest and post-move gains · 4% on export-services companies
Turks and Caicos: 0% on foreign income · 0% on local income
Anguilla: 0% on foreign income · 0% on local income
St Kitts and Nevis: 0% on foreign income · 0% on local income
Antigua and Barbuda: 0% on foreign income · 0% on local personal income
Barbados: 0% on foreign income not brought in · up to 28.5% on local income · no gains tax

Compare all 53 places with your own income and budget →

Sources

https://www.gov.bm
Living costs: based on livingcost.org (estimate), rounded