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A cross-border guide to Bermudian ecommerce, shipping, and importing goods 

If you are looking to grow your ecommerce business into Bermuda, you’ve come to the right place. In our guide, created by Zonos' cross-border experts, you will find the following:

Zonos grade for Bermuda’s ease of importing goods: A 

Ease of doing business 5/5

  • Bermuda’s economy relies on foreign direct investment (FDI), so the government of Bermuda welcomes ecommerce technology, and The Electronic Transactions Act of 1999 recognizes the importance of e-business.

  • International business plays a major role in Bermuda’s expanding economy.

  • Bermuda has thriving political, economic, and social stability, strong transparency, excellent transport links and communications infrastructure, and a favorable geographical position.

Landed cost Fairness 3/5

  • Burmuda does not operate a de minimis, so duty and tax would always be charged on imports; but Bermuda has no import tax.
  • Due to no the lack of a de minimis, duty will always be charged.
  • Bermuda has one of the highest average duty rates in the world, which is unfavorable for landed cost.

Flexibility of legal regulations 5/5

  • Bermuda’s import regulations are reasonable and pose no limitations for trade.

Availability and accessibility of shipping 5/5

  • Leading carriers like UPS, DHL, USPS, and FedEx ship internationally to Bermuda.

Accessibility and variety of payment methods 5/5

  • Debit card, credit card, online payment gateways (Paypal, Stripe, WorldPay, etc.)

Market opportunity 5/5

-Bermuda’s sophisticated market and high percentage of internet users provide a potentially successful economy for retailers.

Key stats for Bermuda 

Population64,184 (2022)
GDP7.484 billion USD (2021)
GDP per capita117,089.29 USD (2021)
Internet penetration98.4% of the population use the internet (2022)
Ecommerce usersUnknown
Leading product categoriesElectronics, fuels, furniture, and vehicles
Preferred online payment method(s)Cards and online payment gateways
LanguagesEnglish
CurrencyBermudian dollar/BMD/BD$

Landed Cost for Bermuda 

The landed cost for a cross-border transaction includes all duties, taxes, and fees associated with the purchase. This includes:

  • Product price
  • Shipping
  • Duties
  • Taxes

Bermuda de minimis, tax, and duty

Further explanation of de minimis, tax, and duty provided below

Duty and tax de minimis

  • Tax de minimis: 0 BMD
  • Duty de minimis: 0 BMD
  • Based on the CIF value of the goods

De minimis

Duty and tax will be charged only on imports into Bermuda where the total CIF value of the import exceeds Bermuda's minimum value threshold (de minimis). Bermuda does not have a de minimis, which means duty and tax fees are charged on all imports. The only time goods are exempt from duty and tax is when they receive preferential treatment through trade agreements.

Import tax

  • Bermuda does not charge import tax.

Average duty rate

  • Average duty rate: 22.5%
  • Applied to the CIF value of the order

Import duty

The average duty charged on imports into Bermuda is 22.5%, and it is applied based on the CIF value of the order. Many common goods are charged a lower duty rate, such as clothing, which has a duty rate of 6.5%. Medicines and reading materials receive a duty charge of zero. Automobiles are generally charged a duty rate of 75% on the first 10,000 BMD and 150% on any value exceeding 10,000 BMD.

Landed cost example

Below is a sample landed cost breakdown for Bermuda calculated using Zonos Quoter. Since there is no de minimis, duty will always apply.

Landed cost for a shipment to Bermuda:

Trade agreements

Bermuda has at least 41 bilateral Tax Information Exchange Agreements (TIEAs) that promote international co-operation in tax matters through the exchange of information between the participating countries.

Customs resources 

Bermuda's Customs authority

Government of Bermuda | Customs

Customs refund in Bermuda

Government of Bermuda | Apply for a refund

Shipping and compliance 

Top courier services:

  • DHL Express
  • FedEx
  • UPS
  • USPS
  • My Bermuda Post

Depending on the courier, additional shipping fees may include:

  • Tracking
  • Insurance
  • Fuel surcharge
  • Remote delivery charge
  • Chain of signature fee
  • Overweight or oversized fee
  • Special handling fee
  • Dangerous goods fee
  • etc.

Documentation and paperwork

Always needed:

Sometimes needed:

  • Packing list
  • Proforma invoice
  • Order confirmation

Prohibited, restricted, and controlled imports into Bangladesh

Government agencies regulate imports.

Prohibited items:

  • Illegal drugs (eg. heroin, LSD, cannabis, etc.)
  • Offensive weapons (eg. push daggers, gravity knives, throwing stars, etc.)
  • Self-defense sprays containing harmful gas or liquids.
  • Stun guns or any weapons that temporarily disable or stun a person with an electric shock or directed energy.
  • Indecent or obscene materials (eg. books, magazines, DVDs, software) featuring children, extreme violence, or any content that cannot be legally bought in Bermuda.
  • Medical marijuana

Restricted items:

  • Firearms, explosives, and ammunition
  • Live animals
  • Plants, fruit, vegetables, and plant products
  • Endangered animals or plants
  • Certain meat and dairy products
  • Certain radio transmitters
  • Methadone

Legal regulations for businesses

Declare imports to customs

When importing goods into Bermuda, you must make a customs declaration. There are different forms, times, and procedures for making customs declarations. The type of goods, their transportation, and how they are processed at customs determine the customs declaration you make.

Next steps

  • Argentina- If you’re looking to expand your sales into international markets, Argentina may be a good place to consider. Learn all about Argentinean import regulations in our country guide.
  • Australia - Graded an A by Zonos cross-border experts, Australia may be a favorable market to expand your sales. Learn all about importing goods and Australia's regulations in this guide.
  • Bangladesh - Branching out into new markets can be scary, but fret not; Zonos provides information on trade barriers, import regulations, and more for many countries, including Bangladesh.

FAQ

What is the currency conversion from the Bermuda dollar (BMD) to USD?

1 BMD = 1 USD. In fact, USD can be used as currency in Bermuda and almost all Caribbean countries.

References