<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-09-30</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001160497</issuerCik>
        <issuerName>INGERSOLL RAND CO LTD</issuerName>
        <issuerTradingSymbol>IR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001229413</rptOwnerCik>
            <rptOwnerName>GAULD WILLIAM B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O INGERSOLL-RAND COMPANY</rptOwnerStreet1>
            <rptOwnerStreet2>155 CHESTNUT RIDGE ROAD</rptOwnerStreet2>
            <rptOwnerCity>MONTVALE</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07645</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Senior Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <remarks>No securities are beneficially owned.</remarks>

    <ownerSignature>
        <signatureName>By:/s/Francis A. Fuselier - Attorney-in-Fact</signatureName>
        <signatureDate>2006-10-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
