Cayman Islands vs Bermuda tax rates at a glance
| Tax | 🇰🇾 Cayman Islands | 🇧🇲 Bermuda |
|---|---|---|
| Income tax |
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| Corporate tax |
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| Capital gains tax |
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| Dividend tax |
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| Wealth tax |
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| Inheritance / estate tax |
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| VAT / GST / sales tax |
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Who wins on each tax
Personal income taxTie
Neither jurisdiction levies a personal income tax.
Corporate taxCayman Islands
Cayman has no general corporate income tax, while Bermuda has a 15% CIT for in-scope MNE groups.
Capital gains taxTie
Neither jurisdiction levies a general capital gains tax.
Other leviesCayman Islands
Cayman is lighter on recurring tax layers than Bermuda's payroll tax and social insurance stack.
Offshore simplicityCayman Islands
Cayman is usually the simpler no-direct-tax jurisdiction to explain and maintain.
The verdict
Cayman is the cleaner tax-neutral answer. It has no personal income tax, no corporate income tax, no capital gains tax and no wealth tax for ordinary people or most operating companies.
Bermuda is also low-tax, but it now has more moving parts: payroll tax, social insurance, land tax and a 15% corporate income tax for in-scope multinational enterprise groups. That makes it less "blank slate" than Cayman.
The practical rule is simple: choose Cayman for the lightest direct-tax setup; choose Bermuda when the regulatory or commercial profile matters more than shaving the last tax layer.
How to read this comparison
The Cayman Islands and Bermuda are both offshore-friendly, but Cayman is the cleaner zero-direct-tax option. Bermuda is still attractive, just with a few more tax and payroll layers to manage.
Frequently asked questions
Is Cayman or Bermuda better for tax?
Cayman is usually better for pure tax neutrality because it has no direct tax regime for individuals or most companies. Bermuda is still low-tax, but it has more payroll and corporate layers.
Does Bermuda have corporate tax now?
Yes, Bermuda applies a 15% corporate income tax to in-scope multinational enterprise groups, while most other Bermuda companies remain outside it.