This information is derived from the State Department's Office of Investment Affairs' 2015 Investment Climate Statement. Any questions on the ICS can be directed to EB-ICS-DL@state.gov
Last Published: 10/14/2016

WTO/TRIMS
Not applicable.

Investment Incentives
Bermuda is a low tax jurisdiction.  It currently does not impose income, profits, withholding, capital gains, transfer, estate duty/inheritance, or sales tax.  The GOB imposes customs duty on an ad valorem basis, generally on the transaction value of imported goods and depending on whether it is for commercial or personal use.  The most common customs duty rate is 22.25 percent, although luxury items such as boats and cars can carry a much higher rate.

For a breakdown of payroll tax rates, see http://www.gov.bm/portal/erver.pt/portal/server.pt?open=512&objID=275&&PageID=231418&mode=2&in_hi_userid=2&cached=true.

Bermuda has no discriminatory or preferential import or export policies affecting foreign investors.  The GOB does not require investors to export a set percentage of output or to purchase goods from local suppliers, even though there are a number of preferential duty reliefs for certain local commercial activities (e.g., for the importation of energy efficient goods and renewable energy resources, hotel and restaurant renovations, etc.).

For information about the 60/40 Rule, please reference the section 1 on Laws/Regulations of Foreign Direct Investment. For information about labor requirements and work permits, reference section 15 on Labor. 

 

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