Bermuda
Bermuda levies no direct taxes. A payroll tax at rates of up to 13½% is applied. IBCs are permitted under Bermudan company law.
Non-residents have to pay a property acquisition licence, and this costs between 15% and 22% of the purchase price, depending on the type of property. Stamp duty of between 2½% and 6%, split equally between buyer and seller, is also payable.
Property taxes are charged at up to 18.43% per year based on the annual rental value of the property.
Bermuda is not a signatory to any tax treaty, although it has signed tax information exchange agreements with a number of countries, including the UK, France and Australia.
