Cost of living on the Islands

We are often asked about the cost of living on the Islands and how much people can save on their salaries/bonuses living there. This page and associated links should help you get a handle on likely expenses you will encounter if you're fortunate enough to gain employment offshore.

Generally, since there is either no income tax (or low income tax), many of the jurisdictions raise revenue for government spending through imposing tariffs on goods imported from overseas (typically, the USA or Canada). This means that products are more expensive than you may be used to (although candidates from the UK will not find it much of an adjustment). However, this is more than offset by the fact that you will be making huge tax savings and, further, that your annual transport and travel costs (apart from discretionary holiday trips) will be negligible. It is quite possible, for instance, for a couple to save 50% or more of their joint incomes.

You will find that your most significant regular expense will be accommodation. In order to find out more about the costs of living and typical rental costs in various Islands, you can look under the respective Island pages of our site or simply use the links below:

Bermuda
Cayman Islands
The Bahamas

 

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