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Cayman Islands vs Bermuda Tax Comparison
Side-by-side comparison of tax rates and systems
Tax Rate Comparison
Rate Comparison
Top Income Tax
Cayman Islands0%
Bermuda0%
Corporate Tax
Cayman Islands0%Lower
Bermuda15%
Capital Gains
Cayman Islands0%
Bermuda0%
VAT / Sales Tax
Cayman Islands0%
Bermuda0%
| Category | Cayman Islands | Bermuda |
|---|---|---|
| Tax System | No direct taxation | No income tax (CIT being introduced for large MNEs) |
| Top Income Tax | 0% | 0% |
| Corporate Tax | 0% | 15% |
| Capital Gains | 0% | 0% |
| VAT / Sales Tax | 0% | 0% |
| Crypto Tax | No | No |
| Wealth Tax | No | No |
| Tax Treaties | 0 | 1 |
| Currency | KYD | BMD |
The bottom line: Cayman Islands vs Bermuda
Cayman Islands has the lower headline rate on 1 of the four main taxes (income, corporate, capital gains and VAT), making it the lighter-taxed of the two on paper. Cayman Islands runs a no direct taxation tax system, while Bermuda uses a no income tax (cit being introduced for large mnes) one. Bermuda has the wider tax-treaty network (1 agreements), which can reduce withholding tax on cross-border income.
- Income tax: identical in both (0%)
- Corporate tax: Cayman Islands is lower (0% vs 15%)
- Capital gains tax: identical in both (0%)
- VAT / sales tax: identical in both (0%)