Inheritance tax and inheritance law in Bermuda
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INHERITANCE
Technically, there are no applicable estate duties or inheritance taxes on property.
Stamp duties are however payable for the ´Affidavit of Value of Deceased Estate´. This duty is levied on the value of the net assets (estate). A family home transferred upon death may be exempted from stamp duty.
STAMP DUTIES ON ESTATE VALUE |
|
| TAX BASE, US$ | TAX RATE |
| Up to US$100,000 | |
| US$100,000 - US$200,000 | |
| US$200,000 - US$1 million | |
| US$1 million - US$2 million | |
| Over US$2 million | |