The sixth location on my retirement list is simply staying in Bermuda. While not technically “abroad”, it has been my home for the past 20 years, and I have developed a deep love and pride for the island. I am very proud to call it home.

Now, let’s be honest: Bermuda can be — and is — quite expensive. While writing this article, I found it challenging to apply the same detailed analysis across my six criteria. Bermuda presents many unique financial variables, such as property location, healthcare options, immigration status, and lifestyle choices, which complicate a uniform evaluation.

With this in mind, I kept the six overarching criteria but had to generalise the discussion points.

1, Cost of living and financial sustainability

As we all know, daily expenses in Bermuda are notably high, typically two to three times more than in many mainland countries. This is primarily due to the need to import nearly all groceries and household goods.

Prices are considerably above average compared to most countries, though they are in line with island nations that have minimal agricultural output. Electricity costs can be significant depending on usage, while internet and mobile phone packages are expensive compared to other countries and even Bermuda’s Caribbean counterparts.

Housing in Bermuda in 2025 is premium priced, whether renting or buying, due to scarcity and high demand. Depending on location, size, and title, three-bedroom homes in central parishes start at approximately $1.5 million and above, while rentals range from $5,000 to $6,500 per month for two-bedroom apartments.

Property taxes are levied on all properties based on their Annual Rental Value (ARV), which estimates yearly rental income. These rates are progressive, though still significantly lower than property taxes in many mainland countries.

Overall, the cost of living is considerably higher than in most countries. It is worth noting that Bermuda’s gross domestic product per capita is approximately $125,842 (2025 estimate), placing it fourth highest in the world.

2, Healthcare quality, accessibility, and affordability

Healthcare is one of the biggest concerns for retirees in Bermuda, driven by issues of affordability and access to specialists.

Bermuda is considered to have good primary care, with a modern acute care hospital and globally recognised for well trained physicians. However, due to economies of scale, there is a limited number of highly specialised doctors, so patients often must seek treatment overseas.

The cost of health insurance for a self-funded retiree can be particularly burdensome, especially if pre-existing conditions are involved. Bermuda operates a mandatory health insurance framework with basic coverage and various higher tier private plans. Premiums are generally regarded as high by international standards.

The Health Insurance Plan (HIP) is Bermuda's basic health insurance option that individuals — including retirees not covered through an employer — can buy directly. Eligible residents can enrol in HIP, with separate FutureCare coverage available from age 65. Both programmes offer community rated premiums and potential subsidies.

Long-term care facilities and nursing homes have limited capacity, and costs are significant, starting at around $75,000 annually. As a result, some residents relocate for long-term care overseas, where more facilities are available.

3, Climate, environment and general liveability

Climate

One thing I love about Bermuda is its subtropical climate, characterised by warm summers and mild winters. However, it is important to recognise that Bermuda does experience occasional hurricanes and tropical storms during the hurricane season.

Cleanliness of air and water

The air quality is excellent, and the tap water is drinkable, though many residents prefer bottled or filtered water.

Safety and crime levels

Bermuda is generally considered a safe place to live in 2025. Crime rates, especially violent crime, are relatively low due to effective law enforcement and community engagement. However, it is important to note that several recent articles have stated that some crimes — including burglaries, fraud, and assaults — are on the rise.

Gender equality

In 2025, Bermuda is making progress towards gender equality through legal, social, and economic efforts, though some disparities and challenges still remain.

Overall pace of life

The overall pace of life in Bermuda for retirees is typically relaxed and tranquil, characterised by a peaceful coastal environment, leisurely social activities, and a slower, laid-back lifestyle that emphasises enjoying nature and community.

4, Visa and legal residency requirements

Retirement visa

If you are Bermudian, the spouse of a Bermudian, a British Overseas Territory Citizen (BOTC), or a Permanent Residency Certificate Holder (PRC), you have the right to reside in Bermuda indefinitely (though PRC holders must meet additional criteria).

For those without such status, retiring in Bermuda requires applying under either the Economic Investment Certificate or the Residential Certificate, both of which have significant financial requirements that must be met and maintained annually.

Pathway to citizenship

Bermuda does not offer direct pathways to citizenship through investment, long‑term residency, or naturalisation. Bermudian status (citizenship) is primarily acquired by birth, descent, or specific family connections, with limited routes for spouses or those with qualifying ties. By comparison, there are currently 25 Caribbean islands that provide legal routes to acquire citizenship.

Property ownership

Your eligibility to purchase property, as well as the types of property available to you, depend on your immigration status. Permanent Resident Certificate (PRC) holders must obtain a licence to buy real estate, while this requirement is waived for British Overseas Territory Citizens (BOTC) and Bermudian Status holders. As this article focuses on retirees, the recent legislation pertaining to work permit holders will not be addressed.

Estate laws

Bermuda’s system is based on English common law and local statutes, primarily the Succession Act 1974. To create a valid will, an individual must be at least 18 years old and of sound mind. The will must be in writing, signed by the testator in the presence of two independent witnesses who also sign.

If a person dies without a valid will, they die intestate. In this case, the estate is distributed according to a strict formula under the Succession Act. A surviving spouse and children have primary rights, but a common-law partner has no automatic right to inherit. If no eligible relatives can be found, the entire estate passes to the Bermuda Government, known as the Crown.

5, Infrastructure, amenities, and ease of integration

Transportation — public and private

• Public transport (buses and ferries) is reliable, but most residents still find life easier with access to a scooter or car, especially at night and on Sundays and public holidays when public transportation schedules are limited.

• Private cars are the preferred choice for retirees for efficiency and reliability. Both the new and second-hand car markets are excellent in Bermuda.

Amenities

• Supermarkets: Bermuda has full‑service supermarkets such as Lindo’s and Market Place, smaller high‑end speciality grocery stores like Supermart and Miles, plus pharmacies, gyms, restaurants, bars, and a few cinemas.

• Shopping and malls: shopping options are limited, with a few department stores but mainly independent boutiques ranging from tourist shops to high‑end clothing stores. Washington Mall is the main shopping centre, housing around 50 stores.

•Social clubs: social clubs are central to life in Bermuda and fall into several categories: sporting clubs (eg, sailing, golf) and interest‑specific clubs (eg, horticulture, art).

• Banking: Bermuda offers a modern and accessible banking system for retirees, providing essential retail services such as current and savings accounts in Bermudian dollars and US dollars, mortgages for local property, foreign exchange, debit/credit cards, and international transfers, which meets residents’ cross‑border needs.

6, Proximity to family, friends, and travel links

Relocating abroad often means starting with a small social circle, which can be isolating, especially for first-time movers. Since connections are often made through work, retirees must actively “retrain” their approach and make a conscious effort to build a new social network.

Air travel

Bermuda is accessible by air through LF Wade International Airport (BDA), which provides regular year‑round connections to major US cities, Canada, and the UK. A unique and very convenient feature is the US pre‑clearance facility for flights to the United States.

7, Conclusion

The ideal retiree for Bermuda is a wealthy, self-funded individual with passive income from offshore sources (eg, pensions, investments) who is financially independent. Furthermore, it would suit someone who has spent a significant amount of time living in Bermuda, is accustomed to the high cost of living, and has developed long term friendships and an overall love for the island.

For a couple to live and retire comfortably in Bermuda in 2025 while renting, a minimum annual income of between $120,000 and $150,000 is a prudent benchmark, though this can vary significantly depending on where you live on the island, your lifestyle and healthcare needs.

References

Barrett, W. (2025). Forbes — Available from: https://www.forbes.com/sites/williampbarrett/2025/07/19/the-best-places-to-retire-abroad-in-2025/

Hollas, A. (2025). Available from: https://titanwealthinternational.com/learn/bermuda-pension-expats/

Sun and Settle (2024) Available from: https://sunandsettle.com/guide/living-in-bermuda-pros-and-cons/

The Property Group (2025). Available from: https: https://www.property-group.com/what-to-expect-from-the-retiree-lifestyle-in-bermuda-in-2025

Wood, J. (2025). Expat Exchange. Available from: https://www.expatexchange.com/gdc/7/21/4087/Bermuda/Retire-Hamilton

Unbiased (2025) Unbiased. Available from: https://www.unbiased.com/discover/retirement/retire-in-bermuda

• Carla Seely has 25 years of experience in international financial services, wealth management, and insurance. She holds an MSc in Business and Management and multiple professional designations, including ACSI, QAFP, and AINS, along with several investment licences

• For further inquiries or suggested topics, e-mail justaskcarla@outlook.com