10/06/2019
Bermuda is a state formation located on the Bermuda archipelago to the east of the United States and is in the possession of the United Kingdom.
7 large and more than 150 small islands are parts of the archipelago. 20 of them are inhabited. The Main Island is the formation consisting of ten islands connected by bridges and overpasses.
Bermuda is the islands of volcanic origin, which causes rather dissected coastline of large islands with bays, lagoons, and a lot of sandy beaches.
The Constitution of Bermuda provides for the internal self-government of the state. At the same time, the Queen of Great Britain appoints the governor whose powers include the issues of defense, foreign policy, and police matters.
The population of Bermuda is approximately 66.5 thousand people. Most of the locals are dark-skinned (almost 55%).
The currency of the state is the Bermuda dollar that is worthily equal to the American dollar.
The mild subtropical climate of Bermuda and the proximity of the warm current of the Gulf Stream predetermined the main orientation of the local economy that is tourism.
Taxes in Bermuda
The following categories of taxes are not levied:
- Income tax;
- Tax on dividends;
- Capital gains tax;
- Tax on real estate;
- Inheritance tax and gift tax (on the basis of special certificate).
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