🇧🇲BMD Economy
Bermuda Salary & Tax Guide
Zero-tax reinsurance hub
Average Gross Salary
$85,000 / yr
Average Net Take-Home
$85,000 / yr
Top Marginal Tax Bracket
0%
Cost of Living Index
120 (US=100)
Economic & Employment Overview
Zero-tax reinsurance hub. Hiring concentrates in Reinsurance, Finance and Tourism, with the largest talent hubs in Hamilton and St. George’s. Average gross pay is $85,000, leaving about $85,000 after statutory deductions.
Leading Industries & Tech Sectors
ReinsuranceFinanceTourism
Immigration & Expat Work Permits
Most foreign hires base themselves in Hamilton, the country’s main hub for Reinsurance roles. Work permits required for non-status holders
Major Economic Centers: Hamilton, St. George’s, Somerset Village
Tax System Breakdown
Single Filer ModelNo personal income tax. The top marginal statutory rate is 0%.
Sample Benchmark at Average Gross ($85,000 USD):
| Gross Salary | $85,000 |
| Total Income Tax Paid | $21,250 |
| Social Contributions / Payroll | $6,800 |
| Net Annual Take-Home | $56,950 |
| Effective Tax Rate | 33.0% |