Bermuda: all programs

Bermuda at a glance

Bermuda is a British Overseas Territory in the North Atlantic, about 1,000 kilometres east of the US coast. It has about 64,000 residents, the capital is Hamilton, the language is English and the law is English. The Bermudian dollar is pegged one to one to the US dollar, and US dollars are accepted everywhere.

The economy rests on international insurance and reinsurance, finance and tourism: hundreds of insurers operate here, and by income per person Bermuda is among the richest places in the world. In return it is also one of the most expensive places to live.

Who the move suits

• insurance, finance, legal and accounting professionals hired by a company on the island;
• wealthy people with foreign income from $75,000 a year who want to live on the island without working in the local market;
• investors ready to put in $2,500,000 for the right to live in Bermuda;
• owners of insurance, reinsurance and holding companies of international groups.

Bermuda does not suit an average budget or remote work on a modest income.

Entry rules and visas

Russia is on the list of visa-controlled nationalities, and Bermuda does not issue its own tourist visas. You can enter with a valid multiple-entry visa for the US, UK or Canada: the visa and passport must remain valid for 45 days after you leave the island. There are no direct flights from Russia, and people fly via London, New York, Boston, Miami or Toronto.

How to stay long term

• Work permit. Arranged by the employer, who must first look for a Bermudian candidate.
• Annual residence permit. For people with foreign income from $75,000 a year and private health insurance, a $275 fee for up to a year, with no work on the island.
• Economic investment certificate. An investment from $2,500,000 in property, a local business, government bonds or social projects, with the option to apply for residence after 5 years.
• Remote work programme. Closed on 28 February 2025, with no new applications accepted.

We choose the basis, prepare the documents and handle the application and the bank account.

Jobs and salaries

The main employers of foreigners are insurance and reinsurance companies, banks, and law and accounting firms. The employer first advertises the vacancy to Bermudians and applies for a permit for a foreigner only if no suitable candidate is found. The permit is tied to the employer and the role, a new one is needed when changing jobs, and a spouse needs their own permit to work. Salaries are high, but rent can take a third of income or more, so a job offer should be weighed together with housing and health insurance.

Taxes

Bermuda has no income tax, capital gains tax or VAT. Workers pay the employee share of payroll tax and a social insurance contribution of about 71.84 Bermudian dollars a week. Customs duty on most imported goods is 25%, which is why everything is expensive. A 1.25% tax applies to buying foreign currency. Since 2025 large international groups with revenue from €750 million pay 15% corporate income tax, which does not affect other companies. More in taxes in Bermuda.

Cost of living

The Bermudian dollar equals the US dollar. Groceries, electricity and healthcare cost noticeably more than in the US, and private health insurance is mandatory for everyone living on the island.

Property for foreigners

The law protects housing for Bermudians, so foreigners can buy only the top segment: houses and flats with an assessed annual rental value above the threshold, plus flats in approved hotel projects. Every purchase needs a government licence, a foreigner pays a licence fee as a percentage of the price and can usually own only one residential property. Foreigners most often buy in Tucker's Town, Paget, Warwick and condominiums near Hamilton. We find the property, check that it meets the threshold and obtain the licence.

Companies and banks

A foreign owner fits an exempted company: it cannot trade on the domestic market but does not have to be 60% Bermudian-owned. The minimum is $2,595 in government fees a year. Since November 2025 details of owners of 25% or more are filed with the registry at incorporation, and nominee directors are banned. There are few banks on the island, and non-residents with no link to Bermuda rarely get an account. We register the company and help with the business account.

Climate and daily life

The climate is subtropical and mild: 27-30°C and humid in summer, 17-21°C in winter. Hurricane season runs from June to November. Visitors cannot rent cars and residents are limited to one car per household, so people use scooters, buses, taxis and ferries. Healthcare is good, and complex surgery is done in the US. Schools are mostly private and expensive.