Ideal Professional Space in Bermuda: Tips and Tricks

Published on October 2, 2025 and written by Cyril Jarnias

Bermuda, a British archipelago in the North Atlantic Ocean, offers an attractive environment for international businesses due to its political stability, reliable legal system, and favorable tax regime. If you’re considering establishing your company there, finding the right premises to meet your needs is a crucial step. This article guides you through the various aspects of searching for commercial space in Bermuda, from prospecting methods to available support.

Winning Strategies for Finding the Perfect Space

Searching for commercial space in Bermuda requires a methodical and well-informed approach. Here are some effective strategies to find the space that best suits your business:

Utilize online resources: Websites specializing in Bermudian commercial real estate, such as Propertyskipper.com or Coldwellbankerbermuda.com, offer a wide range of properties for rent or purchase. These platforms allow you to filter results according to your specific criteria (size, location, property type) and often provide a detailed overview of available properties.

Engage a local real estate agent: Real estate professionals in Bermuda possess in-depth knowledge of the local market and can save you valuable time in your search. They have access to properties that aren’t necessarily listed online and can negotiate on your behalf with property owners.

Explore economic activity zones: Bermuda has several areas dedicated to businesses, particularly in Hamilton, the capital, and St. George’s. An on-site visit will allow you to assess the commercial environment and available infrastructure.

Network with the local business community: Participate in events organized by the Bermuda Chamber of Commerce or join local professional associations. These connections can open doors and inform you about unpublished real estate opportunities.

Key Players in the Bermudian Commercial Real Estate Market

To optimize your chances of finding the ideal space, it’s essential to know the main real estate agencies operating in Bermuda. Here’s a selection of reputable agencies specializing in commercial real estate:

Coldwell Banker Bermuda Realty: This renowned agency offers a complete range of commercial real estate services, from leasing to sales and property management. Their team of experts knows the local market perfectly and can effectively guide you in your search.

Rego Sotheby’s International Realty: Known for its portfolio of high-end properties, this agency also offers quality commercial spaces. Their international network can be an asset for businesses looking to establish themselves in Bermuda.

Bermuda Realty Company Limited: This independent local agency offers in-depth expertise in the Bermudian commercial real estate market. Their knowledge of local regulations can prove valuable for foreign companies.

Keller Williams Bermuda: A subsidiary of an international network, this agency combines a global approach with sharp local expertise. They offer a wide range of services tailored to business needs.

It’s recommended to contact several agencies to compare their offerings and get a comprehensive view of the market. Don’t hesitate to ask them questions about current trends, developing areas, and investment opportunities.

Prepare Your File: Essential Documents for Renting Space in Bermuda

Renting commercial space in Bermuda requires preparing a solid file. Property owners and real estate agencies typically require the following documents:

Proof of business registration: You’ll need to provide a copy of your company’s registration certificate in Bermuda. If your company isn’t yet registered locally, you’ll first need to complete this process with the Registrar of Companies.

Business plan: A detailed business plan demonstrating your company’s viability and ability to pay rent is often required, especially for long-term leases or high-value spaces.

Financial statements: Property owners may request financial statements from your company’s recent years to assess its financial stability. For new businesses, additional guarantees may be required.

Bank and commercial references: Letters of reference from your bank and business partners attesting to your solvency and reliability as a tenant are generally appreciated.

Permits and licenses: Depending on your industry, you may need to present specific permits or licenses issued by Bermudian authorities.

Identification of company directors: A copy of the passport and possibly proof of address for the company’s main directors will be requested.

Fit-out plan: If you plan renovation work, a detailed plan will need to be submitted to the property owner for approval.

It’s crucial to prepare these documents in advance to speed up the leasing process and demonstrate your seriousness to potential property owners.

Budget and Costs: What to Expect When Renting Commercial Space in Bermuda

Renting commercial space in Bermuda represents a significant investment. It’s essential to clearly understand the cost structure to establish a realistic budget:

Base rent: Commercial rents in Bermuda are generally expressed in Bermudian dollars (BMD) per square foot per year. In Hamilton, the main business center, rents for Class A offices can range from 50 to 70 BMD per square foot annually. Ground-floor commercial spaces in sought-after areas can command higher rates.

Common area charges: In addition to base rent, expect to pay common area charges covering maintenance of common areas, security, and sometimes utilities. These charges can represent 15 to 25% of the base rent.

Security deposit: A deposit equivalent to 3 to 6 months’ rent is typically required upon lease signing.

Agency fees: If you go through a real estate agency, fees may apply, typically equivalent to one month’s rent.

Insurance: Liability insurance and property insurance are mandatory and must be budgeted for.

Fit-out costs: Fit-out costs can be significant, especially if the space requires major work to adapt it to your business.

Taxes: Although Bermuda has no corporate income tax, certain taxes may apply depending on your activity, such as payroll tax.

It’s important to note that commercial leases in Bermuda are often concluded for terms of 3 to 5 years, with renewal options. Rent increases are generally stipulated in the contract and may be indexed to inflation.

Cities and Strategic Areas for Business Establishment in Bermuda

Choosing the right location for your business in Bermuda can significantly impact your success. Here’s an overview of the main establishment areas to consider:

Hamilton: The capital and economic center of Bermuda, Hamilton offers a wide range of commercial spaces, from modern offices to waterfront premises. It’s the preferred choice for businesses in the financial and insurance sectors. Although rents are the highest on the island, proximity to financial and government institutions may justify the investment.

St. George’s: This historic town, located in the east of the island, is experiencing renewed interest from businesses seeking more affordable rents while remaining in an attractive setting. It’s particularly interesting for businesses related to tourism or heritage.

Pembroke: Adjacent to Hamilton, Pembroke offers commercial spaces at slightly lower rates while benefiting from proximity to downtown. It’s an option to consider for businesses seeking a balance between cost and centrality.

Paget: Located in the center of the island, Paget offers developing commercial areas with more competitive rents. It may be attractive for businesses that don’t require daily presence in the financial center.

Warwick: This parish offers opportunities for businesses seeking larger spaces at reduced costs, particularly for logistics or light industrial activities.

Southampton: With its tourism development, Southampton may be interesting for businesses related to the hospitality and leisure sector, offering opportunities at more affordable rates than Hamilton.

It’s crucial to consider not only the rental cost but also accessibility for your employees and clients, proximity to essential services, and alignment with your brand image.

Support and Incentives: Available Assistance for Business Establishment in Bermuda

Although Bermuda doesn’t offer direct commercial leasing assistance programs like those found in some countries, the government and various organizations provide indirect support that can facilitate your business establishment:

• Navigating registration and compliance procedures
• Connecting with local service providers (lawyers, accountants, real estate agents)
• Providing information on sectoral opportunities and tax incentives

• Information technology companies may benefit from customs duty exemptions on equipment imports
• Film and media production industry companies can obtain rebates on certain local expenses

Accelerated work permit program: For businesses needing to bring in foreign employees, the government has implemented an accelerated process for certain priority sectors, thus facilitating the quick setup of your team.

Training support: The Department of Workforce Development offers training programs and can help subsidize training for local employees, thus reducing recruitment and skills development costs.

Public-private partnerships: For certain large-scale projects, particularly in infrastructure or sustainable development sectors, public-private partnerships may be considered, potentially offering favorable conditions for establishment.

Start-up support network: Organizations like Ignite Bermuda offer acceleration programs, mentoring, and sometimes even reduced-rate workspaces for innovative young companies.

Although these supports don’t directly reduce rental costs, they can significantly lighten the overall financial burden of establishing and operating your business in Bermuda.

Conclusion: Succeeding in Your Commercial Establishment in Bermuda

Finding the ideal commercial space in Bermuda requires a strategic and well-informed approach. By combining thorough research, the expertise of local real estate agents, and a clear understanding of costs and procedures, you can optimize your chances of success. Bermuda offers a stable and attractive business environment, with opportunities in various sectors, from finance to technology and tourism.

The key to success lies in meticulous preparation, a good understanding of the local market, and the ability to leverage available resources and support. Remember that establishing a business in Bermuda goes beyond simply renting space: it’s integration into a dynamic and international economic ecosystem.

Whether you choose the financial heart of Hamilton or a more affordable area like St. George’s, ensure your choice aligns with your long-term objectives and growth strategy. With the right approach and local partners, your business can thrive in this tax and commercial haven in the heart of the Atlantic.