INDIVIDUAL TAXATION

There are no income taxes in Bermuda but certain transactions are subject to stamp duties and fees.

RENTAL INCOME
The owner of a vacation rental property must pay 4.5% tax on the advertised nightly rate of their property.

CAPITAL GAINS
There is no capital gains tax in Bermuda.

STAMP DUTY

Stamp duties are payable when Bermudan properties are transferred or conveyed. The duty rate is levied on the property value at progressive rates.

STAMP DUTY FOR PROPERTY CONVEYANCE AND TRANSFER
PROPERTY VALUE, US$	STAMP DUTY
Up to US$100,000	2%
US$100,000 - US$500,000	3%
US$500,000 - US$1,000,000	4%
US$1,000,000 - US$1,500,000	6%
Over US$1,500,000	7%

PROPERTY TAX

Property Tax

Land tax is assessed on the annual rental value (ARV) of the property. Property owners are expected to pay this tax twice a year. The rates for residential units are:

PROPERTY TAX
ANNUAL RENTAL VALUE, US$	TAX RATE
Up - US$11,000	0.80%
US$11,001 - US$22,000	1.80%
US$22,001 - US$33,000	3.50%
US$33,001 - S$44,000	6.50%
US$44,001 - US$90,000	17.00%
US$90,001 - S$120,000	30.00%
Over US$120,001	50.00%

The rate for commercial properties is a fixed 9.5% of the annual rental value (ARV) as of 01 July 2019. Tourist properties are taxed at 8% ARV