Bermuda

Bermuda levies no personal income tax, no VAT, no capital gains tax, and no wealth, inheritance, or exit taxes, which makes after-tax income very high for a self-employed person. The main burdens are an employer-collected payroll tax (with an employee marginal portion topping out at 12.5 percent), mandatory social insurance contributions of about 75 BMD per week for the self-employed, and a 25 percent customs duty on most imports. A 15 percent corporate income tax now applies only to large multinational groups with at least 750 million euros in revenue, so smaller local companies still pay 0 percent, but the cost of living is among the highest in the world and the Work From Bermuda remote-worker certificate closed to new applicants in early 2025.