Inheritance tax and inheritance law in Bermuda

Taxation Researcher | August 10, 2021

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%