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Services · Personal accounts

Personal accounts: Bermuda

An honest assessment before work starts, the quote is fixed in writing.

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, so no one can guarantee an opening - careful preparation simply improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Fees

ServicePrice
Personal account - opening assistanceon request

Prices are indicative and cover our work on a typical case. We confirm the exact quote in writing after a short call - you know the final number before we start. Government fees and bank tariffs are billed separately unless explicitly included.

See also

Business account · Investment property · Country taxes · All country programs

FAQ

Can a non-resident open a personal account in Bermuda?
Realistically no. The banks serve residents, work permit holders and property owners on the island, and will not open for someone with no Bermuda connection. It is one of the hardest jurisdictions for a walk-in foreign client.
Does a work permit or residency help?
A lot. A work permit, residential status or property on Bermuda gives the bank the connection it needs and your application is treated as ordinary. Without one, it usually does not get considered at all. Running costs stay high either way.
What is the minimum balance?
There is no single published figure, but thresholds in Bermuda run above the regional average and terms are tougher for clients with no local ties. Banks quote the actual numbers individually after a preliminary review.
Are there taxes in Bermuda?
There is no personal income tax in Bermuda; the government funds itself mainly through payroll tax and duties. That does not cancel your obligations where you are tax resident, and Bermuda participates in the automatic exchange of financial account information.

Don’t want to figure this out alone?

We handle the whole process end to end: we assess your chances with specific banks, prepare your documents and give you honest timelines. Leave your details and a personal banking expert will get back to you. The first consultation is free.

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