Pink sandy beaches and a strong international business sector are among the attractions of the British overseas territory as a place to live and work.
Bermuda’s isolated location in the north Atlantic, 1,000km from the US east coast, helps explain a relatively high cost of living, as almost all manufactured goods and foodstuffs are imported. The cost of living here is nearly a third higher than London, according to comparison site Expatistan.
On the other hand, Bermuda has a low-tax regime, with residents paying no income tax (a payroll tax is levied on employers, which may deduct a 6 per cent withholding amount from employees’ salary). There are also no capital gains or sales taxes.
Plenty of fish in the sea
Rainbow runner, white and blue marlin, wahoo, blackfin and yellowfin tuna — the variety of big fish in Bermuda’s waters means fans of deep-sea fishing have something to catch all year round.
For those who prefer to stay closer to the coastline, the colourful Challenger Bank reef is an easy 12-mile boat ride to the south-west and offers ideal waters for freediving and spear-fishing. Captain Michael Baxter and his sons run reef-fishing trips from Mangrove Bay public wharf in Somerset Village, at the tip of the archipelago’s dog-leg to the west.
Living in Bermuda means inevitably encountering its pretty beaches. The sand giving the beaches their natural pink tinge is formed from finely ground shells and red coral. Horseshoe Bay is perhaps the most famous stretch, but there are quieter spots at Jobson’s Cove or in the nature reserve on Cooper’s Island.
The boat race
Bermuda’s beaches and lapping shores might be peaceful, but the biennial Newport Bermuda boat race raises some heart rates. The 635 nautical mile (1,175km) yachting contest, which starts in the US at Newport, Rhode Island, and ends at Bermuda’s St David’s Head, usually lasts between three and six days. The winner’s cup is seriously coveted in the sailing world.
Established business base
Bermuda is known as the “world’s risk capital” thanks to the strong presence of insurance and reinsurance firms. All “big four” accountancy firms also have bases on the island. There are regular direct flights to other financial hubs in the US (New York is less than two and a half hours away), Canada and the UK — which makes for a large and dynamic expat community.
Photographs: Getty Images/iStockphoto; Andrew F Kazmierski; Dreamstime; Alamy