Living in Bermuda: the ultimate expat guide

Bermuda maintains strict immigration controls while facilitating entry for qualified professionals. The system underwent significant updates in 2025, streamlining certain processes while tightening others. Understanding the entry requirements and work permit categories is essential before committing to relocation.

Entry Requirements

US, UK, and Canadian citizens enjoy visa-free entry for stays up to 180 days. Other nationalities must hold a valid multi-entry visa (MRV) for the UK, US, or Canada. All visitors need a passport valid for at least 45 days beyond their intended departure date. Every traveler must complete the Bermuda Arrival Card online before arrival via the official government portal.

Recent Immigration Policy Changes

Two major updates occurred in 2025. On January 8, several Gulf states (Kuwait, Saudi Arabia, Bahrain, Oman, UAE) were removed from the visa-required list, while Colombia was added. A second revision on July 17 expanded exemptions by removing Trinidad and Tobago, Armenia, Azerbaijan, Benin, Bhutan, Dominican Republic, Kazakhstan, Philippines, Thailand, and others from visa requirements.

Work Permit Categories

Employment in Bermuda requires a Work Permit. The Standard Work Permit is the most common, valid for 1-5 years at annual costs of USD 1,015 (1 year), USD 2,530 (2 years), or USD 3,795 (3 years). Employers must demonstrate that no qualified Bermudian is available for the position.

The Global Entrepreneur Work Permit provides a one-year authorization for entrepreneurs launching new ventures. The fintech sector benefits from the Fintech Business Work Permit, which grants automatic approval for 5 permits during a new fintech company's first 6 months. New for 2025, the Family Office Work Permit targets employees of family offices. The Periodic Work Permit allows visits up to 30 days per trip (maximum 180 days annually) over a 5-year period.

The Work from Bermuda Certificate enables remote workers to operate from the island while maintaining employment elsewhere, renewable annually.

Application Process Under Work Permit Policy 2025

Effective November 1, 2025, the current policy sets a 30 business day processing time for Standard Work Permits. Employers must advertise positions for 8 consecutive days on the Bermuda Job Board and 3 days in the Royal Gazette. Police certificates from both the applicant's home country and any country of residence in the past 2 years are mandatory. The Work Permit Card itself costs USD 160 per person and must be obtained through the government portal.

Bermuda's employment market centers on international financial services, particularly insurance and reinsurance. With exceptionally low unemployment and some of the world's highest salaries, the island attracts top-tier talent. However, access to employment for foreign nationals is strictly controlled through the work permit system.

Current Employment Statistics

The job market shows steady growth. Total employment reached 33,451 in 2024, up 1.8% from 2023. Bermudians hold 67% of jobs (22,369 positions), with an overall employment rate of 80%. Unemployment stands at just 1.6%.

Compensation levels are substantial. The median gross annual salary is USD 71,151, up 1.3% year-over-year. Average monthly salary reaches USD 5,400, while average net monthly income after deductions is USD 6,538.79. These figures rank among the highest globally.

Minimum Wage

As of September 1, 2025, the minimum hourly wage increased to USD 17.13 from USD 16.40, benefiting over 2,500 employees. The system includes biennial reviews with increases capped at 2.5% annually, indexed to the consumer price index.

Key Employment Sectors

The table below outlines Bermuda's major employment sectors, their characteristics, and recent growth patterns based on 2024 data.

Source: Bernews

Top-paying positions concentrate in senior finance roles, executive management, healthcare professionals, company directors, and legal experts. Major employers include Bermuda Commercial Bank, Butterfield Bank, Arch Capital Group, RenaissanceRe, Axis Capital, Validus, and PartnerRe.

Business Formation

Bermuda's business environment is highly favorable. Small and local companies face zero corporate tax, with no taxes on dividends, interest, or capital gains. Since 2025, only large multinationals with revenues exceeding EUR 750 million are subject to the new 15% corporate tax. Foreign ownership of businesses faces no restrictions, and incorporation procedures are streamlined. Tax Assurance Certificates are available through March 31, 2035, providing long-term fiscal certainty.

Bermuda may appeal to affluent retirees through favorable taxation and exceptional living environment. However, the absence of specific retirement residence programs, strict property ownership restrictions, and especially exorbitant living costs make it a destination reserved for financial elite. Here's what you need to know if considering retirement on this Atlantic archipelago.

Residence Options for Retirees

Unlike many popular retirement destinations, Bermuda offers no specific retirement visa or facilitated program for seniors. Obtaining a Residential Certificate remains possible for certain categories, but conditions are strict and the process complex. Non-resident property purchase options are extremely limited: only properties designated with very high Annual Rental Value (ARV) can be acquired by foreigners, and their number is restricted. No golden visa or citizenship-by-investment program exists in the traditional sense. Affluent retirees can explore special residential programs in consultation with immigration lawyers specializing in Bermuda, but the path remains administratively challenging.

Tax Advantages for Retirees

Bermuda's major fiscal advantage remains the complete absence of personal income tax. Retirement pensions from public or private schemes, along with all foreign-sourced income (investments, dividends, interest), face no local taxation. There's also no capital gains tax or estate tax at the Bermuda level. For retirees with substantial income, this zero taxation represents considerable financial advantage that can partially offset high living costs. However, understanding tax obligations in your home country is imperative, as many states maintain taxation based on citizenship or prior fiscal residence.

Quality of Life for Seniors

Regarding pure quality of life, Bermuda checks many boxes: pleasant subtropical climate year-round, high security, international-quality healthcare with King Edward VII Memorial Hospital and several private clinics, exceptional natural setting between beaches and green spaces, and English-speaking community facilitating integration. Geographic proximity to the US (90 minutes from the East Coast) allows easy maintenance of family ties in North America and quick access to US specialized medical centers when necessary.

The general atmosphere is peaceful and relaxed, infrastructure modern and well-maintained, and leisure activities abundant: golf on prestigious courses, water sports, active cultural life, varied gastronomy. The island pace suits retirement perfectly. However, the small territory (21 square miles) may generate isolation feelings for some after several years. Regular international flights to New York, Boston, Toronto, and London mitigate this insularity.

The Catch: Prohibitive Cost

The primary obstacle to Bermuda retirement remains undeniably the cost of living. With monthly rents of USD 2,500 to USD 6,000 depending on size and location, grocery bills representing USD 800 to USD 1,500 monthly, very high medical costs requiring robust private health insurance (monthly premiums of USD 400-600 for seniors), and daily costs 50-100% above North American or European standards, a minimum monthly budget of USD 5,000 to USD 7,000 is necessary for a single person, and USD 8,000 to USD 12,000 for a couple. Only retirees with very comfortable financial resources can seriously consider sustainable installation without risking rapid wealth erosion.

In conclusion, while fiscally attractive and offering undeniable quality of life, Bermuda retirement remains reserved for a minority of very wealthy retirees capable of sustaining monthly expenses comparable to senior executives actively working in major world capitals.

Bermuda maintains its reputation as a low-tax jurisdiction despite introducing corporate tax for large multinationals in 2025. The complete absence of personal income tax remains the territory's primary fiscal advantage, drawing high earners worldwide. The tax system relies primarily on indirect taxes and customs duties.

Personal Income Tax

Bermuda imposes zero personal income tax. Salaries, pensions, investment income, and foreign-sourced income face no direct taxation. This complete absence of income tax provides significant financial advantages, particularly for high earners.

Payroll Tax

While no income tax exists, salaries are subject to Payroll Tax levied on employers based on total payroll. Rates vary by company size and total remuneration. Employers can recover up to 50% of this tax from employees, typically amounting to around 5% of gross salary. Exemptions exist for individuals ordinarily employed outside Bermuda on temporary assignments.

Corporate Income Tax

A major reform took effect January 1, 2025, introducing a Corporate Income Tax (CIT) at 15%. This applies exclusively to large multinationals: groups with consolidated annual revenues of EUR 750 million or more over 2 of the past 4 fiscal years. This aligns with OECD Pillar Two minimum global taxation.

For SMEs, local companies, and entities below this threshold, the traditional 0% rate continues. The first CIT filings occurred in October 2025 for fiscal year 2025. This structure preserves Bermuda's tax advantages for the vast majority of businesses.

Social Security Contributions

Contributions are mandatory for employees working more than 4 hours weekly. Both employee and employer contribute, funding Bermuda's social insurance system.

Sales Tax/VAT

Bermuda has no sales tax or VAT on goods and services.

Customs Duties

Conversely, Bermuda applies high customs duties averaging 36% on virtually all imported products. Along with Payroll Tax, these duties constitute the government's primary revenue source. This partially explains the extremely high cost of living, as nearly all consumer goods are imported.

Significant reductions took effect July 1, 2025: customs duties on automotive parts were completely eliminated, while duties on construction materials were reduced to 10%. These measures aim to ease living costs for residents.

US Tax Obligations

US citizens living in Bermuda must continue filing US tax returns and remain subject to US taxation on worldwide income under citizenship-based taxation. The Foreign Earned Income Exclusion (FEIE) and Foreign Tax Credit may provide relief, but consulting a US tax specialist familiar with expatriate taxation is essential. FATCA reporting requirements also apply to US persons with foreign financial accounts.

Bermuda operates a mandatory private health insurance system that delivers high-quality care at correspondingly high costs. The system differs significantly from public healthcare models common in other countries. Understanding insurance requirements and costs is crucial before relocating.

Health Insurance Plan (HIP)

All residents must enroll in the Health Insurance Plan (HIP), a standardized mandatory health insurance scheme covering basic medical care, hospitalizations, specialist consultations, and prescription medications. Monthly premiums for adults under 65 typically range from USD 400-500. Employers generally cover all or a substantial portion of premiums for employees.

HIP includes annual deductibles and copayments varying by medical service. Standard annual deductibles are around USD 250, with copayments required for certain consultations or procedures. Routine dental and vision care are generally not included in standard HIP coverage.

FutureCare for Seniors

Residents aged 65 and older are covered under FutureCare, designed specifically for seniors. Monthly premiums vary by coverage level selected. In May 2025, the government announced a USD 56.25 million healthcare investment to improve access and modernize infrastructure.

Supplementary Private Insurance

Many residents purchase supplementary private insurance for broader coverage. These policies can include dental, vision, specialized treatments not covered by HIP, or medical evacuation to the US when needed. Primary health insurers are BF&M and Argus.

Medical Facilities

King Edward VII Memorial Hospital in Paget is the main hospital, providing comprehensive services including 24/7 emergency care, surgery, maternity, and intensive care. For complex conditions requiring specialized treatment unavailable locally, patients are typically transferred to US medical centers, particularly in Boston, New York, or Florida. Many residents therefore opt for insurance covering medical evacuations.

Several private clinics and medical practices operate across the island. Appointments with general practitioners are usually available within days, though specialist consultations may require longer waits.

Medical Costs

Healthcare costs in Bermuda are very high. GP consultations cost USD 150-200, and a hospital day can reach USD 1,500 or more. Maintaining adequate health insurance coverage is therefore essential. New arrivals should verify their employer's HIP coverage and consider supplementary insurance based on specific needs and family circumstances.

Bermuda's education system offers choices between public schools following the British curriculum and prestigious private international schools. Education quality is generally high, but private school tuition represents a significant expense for families. Here's a comprehensive overview of educational options.

Public School System

Bermuda's public school system follows the British model, delivered in English. It divides into Primary School (ages 5-11), Middle School (11-13), and Senior School (13-18). Students take the Bermuda School Certificate upon completing secondary education. Expat children can attend public schools, though admission may be subject to conditions and availability. Public schools are free for residents holding work permits.

Private and International Schools

Expat families typically choose private schools offering high academic standards and internationally recognized curricula. Key institutions include:

Bermuda High School (BHS) is among the most prestigious private schools, accepting students aged 4-18 (Reception through Year 13). It follows the British curriculum with IGCSE and A-Level preparation. Annual tuition ranges from USD 26,000 to USD 31,000 depending on grade level. The school is known for academic excellence and modern facilities in Pembroke.

Saltus Grammar School accepts students from Primary through Secondary (ages 4-18) and also offers the British curriculum with IGCSE and A-Levels. Annual fees range from USD 24,000 to USD 29,000. This historic school, founded in 1888, enjoys an excellent academic reputation and is located in Hamilton.

Somersfield Academy takes a different pedagogical approach, inspired by Montessori methods for younger students, accepting children from Preschool through Year 12 (ages 3-17). It follows the International Baccalaureate (IB) for secondary education. Tuition ranges from USD 22,000 to USD 28,000 annually. The school emphasizes individualized learning and is located in Devonshire.

Mount Saint Agnes Academy is a Catholic private school accepting students aged 3-18, from Preschool through Grade 12. It follows an American curriculum preparing for the High School Diploma. Annual fees range from USD 18,000 to USD 23,000. Located in Hamilton, it offers education grounded in Christian values.

Warwick Academy is Bermuda's oldest school, founded in 1662. It accepts students aged 4-18 and follows the British curriculum with IGCSE and A-Levels. Tuition ranges from USD 25,000 to USD 30,000. The school is located in Warwick and maintains a long tradition of excellence.

Enrollment Considerations

Places at top private schools are highly sought after. Begin enrollment procedures several months before arrival, ideally 6-12 months in advance. Admission typically involves assessment testing, interviews, and submission of previous school records. Some schools maintain waiting lists for popular grade levels. Contact schools directly via their websites for detailed admission information and exact fees. Many employers in Bermuda include education allowances in expat compensation packages given the high cost of private schooling.

Finding accommodation in Bermuda is one of relocation's biggest challenges. The rental market is extremely tight due to limited land area and restrictions on non-resident property ownership. Rents rank among the world's highest, and demand far exceeds supply. Thorough preparation and a substantial budget are essential.

Housing Types

Bermuda's housing stock primarily consists of traditional white limestone houses with stepped roofs for rainwater collection, condominium apartments, and cottages. Single-family homes or townhouses are most common, while modern apartment buildings are less prevalent. Most properties have 2-4 bedrooms. Expats typically rent spacious apartments, cottages, or houses depending on budget and family size.

Average Monthly Rents

Rental prices are exceptionally high. A one-bedroom apartment in the city center averages USD 3,700 monthly. Outside the center, this drops to approximately USD 2,800. A three-bedroom apartment in the city center costs around USD 6,000 monthly, and about USD 4,500 outside the center. Larger houses with 4+ bedrooms can reach USD 8,000 to USD 12,000 monthly, or more for premium waterfront properties.

Additional charges typically apply: electricity, water, internet, and sometimes pool or garden maintenance. Budget USD 300-600 monthly for utilities depending on property size and energy consumption. Most properties come unfurnished, requiring substantial initial furnishing costs.

Ownership Restrictions

Bermuda imposes strict restrictions on foreign property ownership to protect the local market. Only properties designated with Annual Rental Value (ARV) above a high threshold can be purchased by non-Bermudians, and these are very limited. Renting remains the only realistic option for the vast majority of expats. Work permit holders face no legal barriers to renting, but availability remains the primary challenge.

Popular Residential Areas

Expats primarily settle in central and southern parishes. Paget and Warwick are particularly popular for their proximity to Hamilton, the capital, and beaches. Devonshire offers a quieter residential setting. Smith's and Hamilton Parish attract those seeking more tranquility while remaining accessible. Southampton and Sandys in the west appeal with relaxed atmosphere and magnificent beaches, though farther from business centers.

Rental Process

Housing searches typically begin several weeks before arrival through local real estate agents or specialized online platforms. Landlords usually require first month's rent, last month's rent, and a security deposit equal to one month - totaling three months' rent upon lease signing. Leases typically run for minimum one year. Professional references and proof of Bermuda employment (Work Permit) are always required. Given the highly competitive market, good properties rent quickly, sometimes within days. Starting your search before arrival and being ready to view and sign quickly upon landing is strongly advised.

Relocating to Bermuda requires meticulous organization given the distance, specific customs procedures, and high shipping costs. Advance planning is key to a smooth transition. Here's a detailed checklist covering all essential steps.

Administrative Preparation (3-6 months before)

1. Secure your Work Permit: Ensure your employer has initiated and completed the work permit application, which is mandatory for legal residence.
2. Gather essential documents: Valid passport, birth certificate, marriage certificate if applicable, educational credentials, police certificates, medical records, and vaccination records for the whole family.
3. Arrange health insurance: Verify your employer's Health Insurance Plan coverage and consider supplementary international insurance during the transition period.
4. Organize children's schooling: Contact chosen schools, complete application forms, and confirm admission before departure.
5. Arrange accommodation: Begin searches through local real estate agents, plan a reconnaissance trip if possible, or arrange temporary housing for initial weeks.

Financial Matters (2-3 months before)

1. Open a bank account: Contact Butterfield Bank, HSBC Bermuda, or Clarien Bank about opening procedures from abroad.
2. Plan your budget: Factor in security deposits (3 months' rent), moving costs, furniture and vehicle purchases, and reserves for initial months.
3. Notify your current bank: Report address change and maintain an account in your home country for international transactions.
4. Review tax obligations: Consult a tax specialist to understand obligations in both your home country and Bermuda, particularly regarding wealth reporting.

Moving Organization (2-3 months before)

1. Select international movers: Compare multiple quotes for sea freight of personal belongings; expect 6-8 weeks between loading and delivery.
2. Sort and pack: Given high customs duties and restrictions, carefully select what to bring. Prioritize personal essentials and limit everyday consumer goods that can be purchased locally.
3. Review customs restrictions: Consult the Bermuda government website for lists of prohibited or restricted items (plants, animals, certain foods).
4. Plan separate priority shipment: Send essentials by air freight in a suitcase or box to cover initial weeks while awaiting the main container.

Final Weeks Before Departure

1. Book flights: Direct flights operate from New York, Boston, Miami, Toronto, and London to L.F. Wade International Airport.
2. Arrange arrival logistics: Organize airport transport and confirm temporary or permanent accommodation.
3. Complete Bermuda Arrival Card: Fill out this mandatory form online before departure via the official site.
4. Prepare emergency contacts: Note your employer's details, real estate agent, embassy or consulate, and Bermuda emergency services.

First Weeks After Arrival

1. Collect your Work Permit Card: Finalize administrative procedures with the Department of Immigration.
2. Activate health insurance: Confirm your Health Insurance Plan enrollment and obtain your insurance card.
3. Purchase or rent a vehicle: Bermuda limits households to one vehicle. Choose a scooter (preferred local transport) or small car based on needs.
4. Obtain a Bermuda driver's license: Take the local theory and practical exams, even with an international license.
5. Set up utilities: Electricity (BELCO), water, internet, and mobile phone (Digicel, One Communications).
6. Explore your neighborhood: Locate nearby shops, supermarkets, pharmacies, banks, and essential services.

Following this checklist systematically and anticipating each step will maximize your chances of a smooth relocation and successful integration into island life.

Bermuda offers exceptional quality of life blending British heritage with relaxed island atmosphere. The territory abounds with outdoor activities, historic sites, and year-round cultural events. Whether you enjoy water sports, history, or fine dining, you'll find plenty to discover and enjoy.

Beaches and Water Activities

Bermuda's beaches rank among the world's finest, recognizable by unique pink sand created by coral and shell particles. Horseshoe Bay Beach in Southampton is the most famous and frequented, featuring turquoise waters, dramatic rock formations, and complete facilities. Elbow Beach in Paget attracts families with its calmer setting and shallow waters. Warwick Long Bay stretches nearly a kilometer and remains less crowded, ideal for long walks. Tobacco Bay in St. George's offers excellent snorkeling in a sheltered cove.

Water activities are abundant: scuba diving on pristine coral reefs and historic wrecks, snorkeling, kayaking, paddleboarding, sailing, jet skiing, and deep-sea fishing. Crystal-clear waters allow observation of rich, colorful marine life. Several dive shops offer guided trips to premier sites, particularly the numerous wrecks surrounding the island.

Golf and Land Sports

Bermuda is a premier golf destination with several championship courses. Mid Ocean Club in Tucker's Town ranks among the world's top 100 courses. Port Royal Golf Course, a renowned public course, has hosted the PGA Grand Slam of Golf. Enthusiasts can also play at Belmont Hills Golf Club and Riddell's Bay Golf Club. Tennis is also popular, with public and private courts across the island.

Cricket holds special cultural significance. Cup Match, played in late July or early August, is the year's major sporting event, with two public holidays and thousands of spectators in a uniquely festive atmosphere. This tournament between Somerset and St. George's teams dates back to 1902.

Historical and Cultural Heritage

St. George's, founded in 1612, is one of the oldest continuously inhabited towns in the New World and a UNESCO World Heritage Site. Stroll its cobbled streets, visit St. Peter's Church (the oldest Anglican church in continuous use in the Western Hemisphere), Fort St. Catherine, and the Bermuda National Trust Museum. The town regularly hosts historical reenactments and traditional ceremonies.

In Hamilton, the Bermuda National Gallery showcases local and international art, while the Masterworks Museum of Bermuda Art focuses on works inspired by the island. The Bermuda Underwater Exploration Institute offers fascinating insights into maritime and oceanographic history. The Royal Naval Dockyard, a former British naval facility in Sandys, has been transformed into a tourism complex housing shops, restaurants, the National Museum of Bermuda, and Dolphin Quest.

Cuisine and Nightlife

Bermudian cuisine blends British, American, and Caribbean influences. Try fish chowder spiked with black rum and spices, codfish breakfast (cod with potatoes, bananas, and avocado), grilled Bermuda rockfish, and the famous rum cake. Restaurants range from casual local spots to high-end fine dining. Front Street in Hamilton concentrates numerous restaurants and bars with waterfront terraces.

Nightlife, while quieter than major cities, offers several options: traditional British pubs, lounge bars, beach clubs, and regular live music events. Robin Hood Pub and Hog Penny Pub draw loyal crowds. The overall atmosphere remains relaxed and friendly.

Annual Events

Bermuda's calendar features festivities reflecting island identity. Bermuda Day in late May celebrates local heritage with parades, boat races, and fireworks. Cup Match in late July/early August transcends cricket to become a true national celebration. The Bermuda Music Festival in October welcomes international artists. The Newport Bermuda Race, a legendary sailing race, occurs in June of odd-numbered years. Year-end holidays are celebrated with flair, mixing British traditions and tropical ambiance.

Nature and Hiking

Despite its small size, the island offers excellent hiking opportunities. The Railway Trail follows the former railway route for approximately 18 miles, crossing all nine parishes and offering varied views of coastlines, residential areas, and natural spaces. Shorter sections allow 1-3 hour walks. Spittal Pond Nature Reserve, South Shore Park, and Cooper's Island Nature Reserve harbor endemic flora and fauna. Migratory bird watching is particularly rewarding in spring and fall.

With such diverse activities and discoveries, Bermuda offers far more than just professional and fiscal advantages.

Bermuda consistently ranks as the world's most expensive place to live, surpassing even New York, London, or Zurich. This stems from the need to import virtually all consumer goods, high customs duties (averaging 36%), limited land area, and minimal local production. Preparing a realistic budget is absolutely crucial before committing to relocation. Here's a detailed breakdown of average monthly expenses.

Monthly Budget for a Single Person

Below is a realistic estimate of monthly expenses for a single person living in Bermuda with a standard lifestyle offering reasonable comfort without excess.

Source: Numbeo (October 2025)

Monthly Budget for Family of 4

For a family of two adults and two children, expenses increase substantially, particularly due to larger accommodation needs and private school tuition.

Source: Numbeo (October 2025)

Common Retail Prices

To better understand daily living costs, here are indicative prices for common products and services: a liter of milk costs approximately USD 3.50, a dozen eggs USD 6, a kilogram of chicken USD 15, bread USD 5. A meal at an inexpensive restaurant runs USD 25-35, while dinner for two at a mid-range establishment easily reaches USD 150-200 with drinks. A local beer at a bar costs USD 10-12, coffee USD 5-6.

Gasoline is relatively expensive at approximately USD 2 per liter. A monthly public transport pass (bus and ferry) costs USD 69 for adults. Clothing, footwear, and electronics are 20-40% more expensive than in North America or Europe due to customs duties.

Budget Management Strategies

Several strategies can help control expenses. Shop at local supermarkets like Lindo's, MarketPlace, or Supermart rather than convenience stores. Buy fresh produce at the Farmer's Market on Saturdays. Avoid frequent restaurant meals by cooking at home. Take advantage of numerous free or low-cost activities: beaches, hiking, community events. Use efficient public transportation rather than a private vehicle to reduce fuel and maintenance costs. Finally, negotiate with your employer for a package including housing, education, and relocation allowances - common practice in Bermuda to offset the exorbitant cost of living.