Bermuda

Bermuda is an archipelago of some 138 islands situated in the North Atlantic Ocean (and not the Caribbean as is sometimes thought), approximately 650 miles east of South Carolina in the US and 960 miles north of the British Virgin Islands. It has a population of circa 65,000.

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Bermuda is the UK’s oldest British Overseas Territory and is self-governing with its own parliamentary government (dating from 1620) and constitution.

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Bermuda's four main islands are Main Island (Grand Bermuda), St. George's Island, St. David's Island, and Somerset Island, which are connected by small bridges and which create a single landmass for practical purposes. The capital Hamilton, which is based on Main Island, is the financial and administrative hub.

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English is the main language.

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The expat community is substantial, representing approximately 20% of the population (around 13,000 people), primarily from the UK, US, Canada, and Portugal.

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Bermuda has a sub-tropical climate with warm, humid weather and a wetter/windier season in late fall. Average daily high temperatures range from 21C – 30C and average daily low temperatures range from 15C to 25C.

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There are regular direct flights to several major North American cities including New York (2hrs 15 mins), Boston (2 hrs 15 mins), Miami (2hrs 45 mins), Toronto (2hrs 50 mins) and Montreal (2hrs 35 mins), as well as to London (7 hrs 50 mins).

Bermuda has the third highest GDP per capita in the world (USD 138,935) and is a highly reputable and sophisticated offshore financial centre, with a stable political environment and effective regulation. The largest contributor to Bermuda’s GDP is international business, followed by tourism.

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Bermuda is a global reinsurance hub, being the third largest reinsurance market in the world, with over 1,100 operators and total assets in excess of $1.6 trillion. It is also a leading captive insurer market and the largest insurance-linked securities market globally. In addition to (re)insurance, a number of investment funds and investment businesses operate in Bermuda.

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Bermuda has developed a regulatory framework to regulate and encourage the growth of digital assets businesses and it operates the largest offshore aircraft registry globally and a highly regarded ship registry.

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The currency is the Bermuda Dollar (BMD), which maintains 1:1 parity with the US dollar.

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Bermuda is a tax-neutral jurisdiction and there are no taxes imposed on profits, income (with the exception of large multinationals with consolidated annual revenues of EUR 750M+) or capital gains, nor is there any withholding tax, estate tax or death duty.

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Payroll tax is charged on a progressive basis up to a maximum of 12.5% for income of $500k-$1m. Someone on a salary of $200K will pay circa 7.5% tax.

Bermuda is a high-end tourist destination with a relaxed community-focused lifestyle and a strong emphasis on family and local heritage.

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Bermuda boasts stunning pink sand beaches with abundant water activities: scuba diving on pristine coral reefs and historic wrecks, snorkelling, kayaking, paddleboarding, sailing, jet skiing, and deep-sea fishing.

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Bermuda has a vibrant culture of sport, with numerous options for both fans and players alike. Football and cricket are the two most popular sports on the island, with multiple clubs of varying skill levels representing each. In addition to football and cricket, there are active communities built around rugby, running, hockey and several other sports. Every year, Bermuda is home to the World Rugby Classic, attracting teams from all over the globe to participate. Other popular sports in Bermuda include tennis, swimming, cycling and triathlon.

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Bermuda has seven golf courses including Port Royal Golf Course, which hosts an annual US PGA tour event and Mid Ocean Club, which is regularly ranked in the world’s top 100 courses.Despite its small size, the island offers excellent hiking opportunities. The Railway Trail follows the former railway route for approximately 18 miles, crossing all nine parishes and offering varied views of coastlines, residential areas, and natural spaces. Shorter sections allow for 1-3 hour walks.

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Bermuda's calendar features festivities reflecting island identity. Bermuda Day in late May celebrates local heritage with parades, boat races, and fireworks. Cup Match in late July/early August transcends cricket to become a true national celebration. The Bermuda Music Festival in October welcomes international artists. The Newport Bermuda Race, a legendary sailing race, occurs in June of odd-numbered years. Year-end holidays are celebrated with flair, mixing British traditions and tropical ambience.

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Restaurants range from casual local spots to high-end fine dining. Front Street in Hamilton concentrates numerous restaurants and bars with waterfront terraces.

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Nightlife, while quieter than major cities, offers several options including traditional British pubs, lounge bars, beach clubs and regular live music events. Robin Hood Pub and Hog Penny Pub draw loyal crowds.

King Edward VII Memorial Hospital in Paget is the main hospital, providing comprehensive services including 24/7 emergency care, surgery, maternity, and intensive care. For complex conditions requiring specialised treatment unavailable locally, patients are typically transferred to US medical centres, particularly in Boston, New York, or Florida. Many residents therefore opt for insurance covering medical transfers. Several private clinics and medical practices operate across the island. Appointments with general practitioners are usually available within days, though specialist consultations may require longer waits.

Bermuda's housing stock primarily consists of traditional white limestone houses with stepped roofs for rainwater collection, condominium apartments, and cottages. Single-family homes or townhouses are most common, while modern apartment buildings are less prevalent. Most properties have 2-4 bedrooms. Expats typically rent spacious apartments, cottages, or houses depending on budget and family size.

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There are strict restrictions on foreign property ownership to protect the local market. Only properties designated with an annual rental value above a high threshold can be purchased by non-Bermudians, and these are very limited.

Bermuda has excellent public transport as a result of limited private car ownership (one car per household rule) and tourists not being allowed to drive, thus keeping traffic low. Scooters and mopeds are a popular alternative. Ferries are also a popular method of commuting to work in Hamilton.