Inheritance tax and inheritance law in Bermuda

Taxation Researcher | March 11, 2020

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
0%
US$100,000 - US$200,000
5%
US$200,000 - US$1 million
10%
US$1 million - US$2 million
15%
Over US$2 million
20%
 

Comments

Merianna | April 03, 2010

This information not up to date. New top layer added in 2010 - 20% tax rate. Lower (Tax free) layer increased from $50K to $100 K .

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