Tax Haven Bermuda

About Tax Haven Bermuda

Bermuda has no corporate income tax, no capital gains tax, and no withholding tax. This makes it one of the worlds most pure tax havens. Bermuda is particularly important for the insurance and reinsurance industry. Companies establish Bermuda subsidiaries to hold intellectual property and book profits tax free. Google, for example, moved billions in profits to Bermuda through the Double Irish Dutch Sandwich. OECD initiatives against base erosion and profit shifting have targeted structures like the Bermuda arrangement. Bermuda has been pressured to increase transparency and exchange tax information. Despite this, Bermuda remains a major offshore financial center with over 15,000 registered companies for a population of 64,000.