Bill: Exempt Senior Execs From Work Permits

Premier Paula Cox tabled the Incentives for Job Makers Act 2011 this afternoon [Nov.18] in the House of Assembly, which introduces the option of a permanent resident’s certificate for job makers, and would provide some senior executives with an exemption from requiring a work permit.

The Incentives for Job Makers Act 2011 recognises companies that have demonstrated that they believe in Bermuda by exempting senior executives from requiring a work permit for as long as the executive continues to be employed with the company and the company continues to invest in Bermuda.

The Premier said, “The Government appreciates that in order to encourage job makers to commit to Bermuda in the long-term; we must give them the opportunity to consider Bermuda as their permanent home for themselves and their families.”

In order for a company to be eligible for these incentives, they must have at least 25 Bermudians on staff at all levels of the company, provide entry level positions to Bermudians and have programmes in place for developing and promoting Bermudians.

The Premier’s full statement is below:

I am pleased to announce that I have, today, tabled the Incentives for Job Makers bill in the Honourable House of Parliament.

This bill represents my commitment to demonstrate that Bermuda is open and welcoming to business. I have consistently espoused the view, from March in the National Budget statement all the way through to the recent Throne Speech that the Government will provide an enabling environment for the private sector that will create new jobs and maintain existing ones.

The Incentives for Job Makers Act 2011 recognises and rewards those companies that have demonstrated that they believe in Bermuda and Bermudians by providing their senior executives with an exemption from requiring a work permit for as long as the executive continues to be employed with the company and the company continues to invest in Bermuda.

In order for a company to be eligible for these incentives, they must:

• (1) have at least 25 Bermudians on its staff;
• (2) have Bermudians at all levels of the company;
• (3) provide entry level positions to Bermudians graduating from high school or college;
• (4) have programmes in place for developing and promoting Bermudians; and exercises fair employment practices.

The Government appreciates that in order to encourage job makers to commit to Bermuda in the long-term; we must give them the opportunity to consider Bermuda as their permanent home for themselves and their families. As such, the bill also introduces the option of a permanent resident’s certificate for job makers.

We have also recognised the accomplishments of those employers that have already demonstrated their long-term commitment to invest in Bermuda and Bermudians by reducing the period of eligibility for a permanent resident’s certificate to five years as opposed to the ten years that would be required for any new investor.

The initiatives that were outlined in the Throne Speech signal the Government’s commitment to provide enhancements and a willingness to partner with the Private Sector.

This bill demonstrates that these were not empty promises that will sit on a shelf gathering dust. It is only the first of many bold new measures that will be introduced to add economic value and drive further development.

Thank you

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Category: All, Business, Politics