Although the bulk of our business here on the Trust, Admin and Support Services Team comes from our local Caymanian companies, we do also recruit for many firms in Bermuda. For example we are currently recruiting for various legal secretary posts in there.
So I thought for my blog today I would give you a little background on both of our destinations, both the similarities and the differences!
Many people make the mistake of thinking that Bermuda is a part of the Caribbean, I know I did before I relocated to this side of the globe. However it is in fact hundreds of miles north of the Bahamas based out in the Atlantic. Bermuda sits 650miles east of North Carolina; direct flights are available from New York and other eastern US cities and reach Bermuda in less than two hours.
The temperature in Bermuda is slightly more variable than in Cayman, it seems to have more obvious seasons. The hottest part of the year is summer (obviously) and from May through to October you can expect temperatures to range between 75 and 85 degrees. However during the winter months it’s hardly cold, with temperatures around 70 degrees… Hurricanes are perhaps less common than in the Caribbean but still something to consider.
Bermuda is an archipelago, a string of some 180 islands and islets. Some of these islands are so tiny that they are fit only for birds’ nests. The total area including all these tiny islands is little over 21 square miles spans almost 54km and is surrounded picture perfect blue sea. One of the most obvious differences between Bermuda and Cayman is the aesthetics, with Bermuda’s rolling hills, greenery and pink sand beaches it has been described as more beautiful than Cayman – although let’s not forget Cayman has the world famous 7 mile beach!
So now for the nitty gritty – Bermuda is known as having a high cost of living and this is certainly the case, I mean there aren’t many places in the world where a loaf of bread costs over $5! However having said that salaries are generally higher in order to align with the higher cost of living, and let’s not forget the low tax rate set at 4.75%. In terms of accommodation costs, the average 1 bed apartment costs between $US1, 500 – 2,000 per month and for a 2 bed that would be anything upwards of US$2500. Cars are a luxury in Bermuda, with only one allowed per household, so most people get around on scooters or motorbikes.
The low down on Cayman:
Cayman is situated in the North West Caribbean, and with Miami, Cuba and Jamaica being roughly a one hour flight away it’s very easy to connect to the rest of the world from Cayman. It’s also easy to hop across to Miami or Panama for the much needed shopping trips!
The temperature here in Cayman is generally hot, hot, hot year round. The ‘cooler’ months tend to be January through to March with daytime temperatures ranging from the upper 70’s to lower 80’s whereas in the summer months the daytime temperature is likely to be in the 90’s. Hurricane season runs from the beginning of June through to the end of November and during this time it can be wet but major hurricanes are not frequent. The last major hurricane in Cayman was Hurricane Ivan in 2004, however you have to be prepared for any eventuality.
Whilst the cost of living in Cayman is also high, it’s not quite as high as Bermuda and of course there is 0% tax here which tends to equal out the high cost of living. In terms of accommodation, it is possibly to find a one bedroom condo here from upwards of CI$1200 per month and a 2 bedroom house upwards of CI$1500. Cars are quite expensive here in Cayman I find, however saying that, they do not tend to depreciate in value as quickly as most places and so you can usually sell your car for not too much less than you bought it.
So that was just a few of the basics when it comes Bermuda vs. Cayman but please feel free to contact myself or any of the consultants here at CML for more information on relocating or any of the jurisdictions we cover.