The couple are relocating to New York for work and personal reasons. 64-year old Douglas is set to play Liberace in Scott Soderbergh’s biography of the flamboyant pianist, and also star in the sequel to the 1987 blockbuster Wall Street.

The celebrity couple have rented out their home in Warwick Parish and taken their children out of Warwick Academy.

Michael Douglas has strong ties to Bermuda. He is a shareholder in the Ariel Sands hotel and his mother, Diana Dill, was born in Bermuda in 1923.

They moved to the island in 2002 and supported local organisations such as the Bermuda Musical and Dramatic Society, Bermuda Underwater Exploration Institute, Masterworks Foundation, National Dance Foundation of Bermuda, and the Bermuda International Film Festival. Douglas is a keen golfer and is a member of the Mid Ocean Club and Riddell’s Bay Golf & Country Club.

In March of this year, Fairmont revealed plans to replace the existing 18-hole course with a 9-hole version and build vacation villas and golf residences on the freed land.