Bermuda Logistics: Setting Up Your Life in 2026
From opening a bank account to passing the island's notoriously tricky driving test, setting up your life in Bermuda requires a specific sequence of steps. Use this checklist to navigate the local systems without the standard "new arrival" delays.
Banking & The USD/BMD Exchange Rate
The Bermuda Dollar is pegged 1:1 to the US Dollar and you'll find that both currencies are used interchangeably. However, local banks treat them differently. Also, in general, employers prefer to pay salaries into a local account.
Be aware of the Foreign Currency Purchase Tax (FCPT). Whenever you use BMD to buy products online (including Amazon shopping), the bank applies a mandatory 1.25% fee to convert your BMD to USD
You generally cannot open an account until your Work Permit is in hand. Expect the onboarding process to take between 3 and 10 business days.
Healthcare & Insurance Rights
Bermuda's healthcare is very expensive. The good news is that, by law, your employer must cover at least 50% of the cost of the Standard Health Benefit (SHB) for all full-time employees and their unemployed spouses.
The 50/50 Split: Employers can deduct up to 50% of the premium from your pay, but must cover the rest.
Major Medical: Most expats choose to purchase a private additional coverage for themselves and their families.
Private Schooling in Bermuda
If you are moving to the island with children, the education landscape requires immediate attention.
The Good News
Unlike the public system's strict November window, private schools offer rolling admissions. They can theoretically accept your child at any point during the 2026 academic year if a seat is available.
The Bad News
Seats are extremely limited and costs are very high. Due to ongoing public school restructuring and high expat numbers, mid-term vacancies are rare. In many year groups, there simply might not be enough space for your child, regardless of their academic standing.
Pro tip: Do not wait for your work permit to start the application process. Many families begin "screening" and "wait pooling" 6 months before their arrival date.
Bermuda Private School Tuition Costs in 2026
| School | Parish | Est. Tuition |
|---|---|---|
| Saltus Grammar | Pembroke | $28,000 |
| Warwick Academy | Warwick | $24,000 |
| BHS | Pembroke | $27,000 |
For a full breakdown of private school tuition costs, see our Bermuda Relocation Guide.
Driving & TCD
Your foreign license is not valid as a long-term resident. You must pass a written and practical driving test at the Transport Control Department (TCD).
The "One Car" Rule: Every household is limited to one four-wheeled vehicle. This is strictly enforced through your home's unique "Assessment Number." Before buying a car, you must confirm your landlord hasn't already used the number for their own vehicle.
Master the "Bermuda Maneuver"
The TCD road test is notoriously difficult, with immediate failure for minor errors like rolling back on a hill or missing a handbrake stop. Our 2026 toolkit ensures you're prepared for Day 1.
Driving test secrets
The road test breakdown and how to hire a 'fast-track' instructor to skip the 6-week wait.
Tax-free shipping
How to apply for the transfer of residence allowance (TRA) to avoid paying 25% customs duty on your personal belongings.
Utility setup guide
Instantly know which companies provide internet, mobile and electricity so you don't waste time.
Bermuda's unique water system
Understand how to order a load of water and why your lease might include a 'Watlington Water' top-up.
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