By Alec Anderson, Helen E. Cooper, Davina Hargun

In Bermuda there is no income or profits tax, withholding tax, capital gains tax, capital transfer tax or inheritance tax. There is no exit or similar such tax based on a resident’s wealth when ceasing to be resident and there are no other consequences of leaving the jurisdiction.

Customs duties and stamp duty are major government revenue earners, with stamp duties charged at different rates and in different manners on a variety of legal documents, excluding wills.