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relocating

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newbie
5/23/2006 04:30 EST

Hello,
thank you for taking the time to read and if possible to reply to this request for infomration.
i am considering relocating to bermuda from Saudi arabia. with this possible move I will selling many of the items whcih I have accquired over the years I have been here but some items I would like to bring with me and I was wondering about this "import" tax I have seen and read so much about, would I be taxed on my home theatre system purchased over 12 months ago here in the middle east? And what about my DVD's? I have heard somewhere that new comers are also taxed on their personal computers?
thank you in advance for answering these few questions.

cheerio

dzurbo
5/26/2006 11:20 EST

Hi.
You must pay import duty on all you bring into Bermuda, including "used" items. It is up to you to estimate or prove the price paid for the items imported. Obviously, it is not possible to provide receipts for everything purchased over your lifetime; that said, the Customs officers decide if the price you have put one your Customs declaration is "reasonable" in their opinion.

A few questions for you: Do you already have a job secured here in Bermuda? If so, the company will most likely pay or help pay for the duty on your things brought into Bermuda. That is a standard benefit in most employment contracts for ex-pats, at least here in Bermuda. If you do not have a job here already set up with Immigration approval, you should be forewarned that Bermuda Immigration is really limiting the permits they are releasing. Another consideration about moving here is the high cost of living. I don't know the cost of living in Saudi Arabia, nor do I know your country of origin; I do know that the cost of living in Bermuda is about double-triple the cost of living in the States. The cost of rent for a small cottage or apartment, one bedroom, is at least $2,500. Our home, which is not fabulous by any means, is a 3 bedroom with a pool; our rent is $9,000/month. Most companies do include a rent stipend/housing allowance in their employment contract. I would caution you to really take a look at that because it can make or break your life here. Many people who do not have an adequate housing allowance from their employer are priced out of the housing market and are leaving the island.

I hope I don't scare you off here. It is a wonderful place to live for the most part: safe, beautiful, friendly and great for families. It is however, very political for expats and also very expensive. Feel free to post any other questions and I'll do my best to answer them. Good luck.

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