Bermuda is the place for up-and-coming young business professionals, according to Forbes magazine.

The publication claims that if the Island was a US city instead of a British territory, it would have challenged the list's leading cities by finishing at the top of several of Forbes' metrics.

But one of the main attractions is its tax status, with the lure of tax-free salaries and minimal corporation tax on offer.

"Of course, if Bermuda had joined the US, it's unlikely the small island nation would have its tax haven status; it levies no income tax," the report read.

"This allows its economy to thrive by attracting international investment groups, resulting in its citizens possessing the world's highest per-capita income."

Meanwhile it is also home to some of the world's top businesses, while it also boasts a highly skilled workforce.

"By our measures, it has the highest concentration of Forbes' 400 best big companies and 200 best small companies, as judged by revenue, corporate practices, and long and short-term sales and earnings growth, as well as stock market performance," the report continued.

"In fact, Bermuda has one top-rated company for every 11,000 citizens. The best concentration stateside? Minneapolis, which has one top company for every 130,000 people.

"The number of elite graduates per capita isn't too shabby either, and Bermuda would have just made it into the top 10 by that regard. Salaries are high enough, and taxes low enough, that well-paid jobs leave their earners more than comfortable.

"Of course, this argument is disingenuous. Many companies that operate out of Bermuda are little more than a small office to facilitate off-shore finance and to protect assets from tax-happy governments. Bermuda's status as the richest nation per capita may be statistically true, but it's because there are only 66,000 people there and heaps of multinational companies, which operate out of Bermuda on paper only."

The report surmised, however, that to emigrate, or own property in Bermuda required connections and cost fees that make "even the richest wince", while the six companies on its list that call the Island home employ very few people there itself, with most of those employees being very senior.

"Because of this, it's not a place with a great deal of opportunities to rise up through the ranks to the C-suite, even though it is, on paper, a great place to begin a professional career," it concluded.