Minister Minors: 10 Year Work Permit
Minister Minors spoke today [Nov.18] in the House of Assembly on the 10 year Work Permit, which was officially launched on 1st November 2011. Available to some key employees of companies which meet certain criteria, the permit costs $20,000.
To qualify for a long-term Work Permit, the company must have a significant presence in Bermuda, at least 20 staff of which 50% should be Bermudian, provide entry level positions to young Bermudians, and provide equal payment/benefits to Bermudians and non-Bermudians.
Minister Minors said, “The Government acknowledges and appreciates that there are many experienced non-Bermudian executives in companies who do much to contribute to the Bermudian economy and have done so for years.
“Our aim is to keep these individuals thoroughly involved in investing in the Bermudian economy by taking the necessary steps to help maintain business continuity for these organizations.
“Simultaneously, Mr. Speaker, it is our responsibility to make certain that qualified Bermudians are protected and assisted in the process. It is therefore our hope that the ‘balanced’ criteria associated with the 10-year work permit is viewed as fair and equitable by all parties and reinforces that Bermuda is indeed “Open for Business and to Business”.
The Minister’s full statement follows below:
Mr. Speaker on 1st, November 2011 the Ministry of Economy, Trade and Industry officially launched the 10-year Work Permit.
These long-term Work Permits are for positions in job categories designated as positions that are critical to the continued success of the company and to Bermuda.
Mr. Speaker, the ten-year work permit policy is an important step towards gaining the balance we need to strike with regard to work permit holders. The policy is holistic in nature as it is linked to meeting specific criteria to make certain that those holding the permits are in positions that will help build the Bermudian economy.
Therefore, to qualify for a Long-term Work Permit, the employer must demonstrate that they meet certain requirements.
That is, the company must have a significant presence in Bermuda and must have a staff of at least twenty; 50% of whom should be Bermudian.
Also, the company must provide entry level positions to young Bermudians and must provide equal payment and benefits to both Bermudians and non-Bermudians.
You will recall Mr. Speaker, that the work permit policies are designed to enable Bermudians to realize their full employment potential, to this end it is not unreasonable that the company will be required to demonstrate that it has programmes in place for developing and promoting Bermudians.
Mr. Speaker, the cost of a 10-year work permit is $20,000 and positions eligible for this long-term work permit must be responsible for making decisions that are critical to the continuity of the company in Bermuda and, be one where either the company’s presence in Bermuda is contingent on that person remaining in Bermuda such as the Chief Executive Officer, Chief Operating Officer or Chief Financial Officer; or where it can be demonstrated that Bermudians are unlikely to have the qualifications to fill the position and, historically, no Bermudians have applied for the position.
Mr. Speaker, the presence of non-Bermudian workers in our workforce is directly related to globalization and our economic success. There are insufficient Bermudian workers with the appropriate skill sets to fill all the available jobs. We are quickly working to establish programmes that will help those in transition to acquire new skills.
With this in mind, I trust that it is clear that the Government is indeed evolving how we strike the balance between work permit holders and the Bermudian workforce.
Mr. Speaker, the Government acknowledges and appreciates that there are many experienced non-Bermudian executives in companies who do much to contribute to the Bermudian economy and have done so for years. Our aim is to keep these individuals thoroughly involved in investing in the Bermudian economy by taking the necessary steps to help maintain business continuity for these organizations.
Simultaneously, Mr. Speaker, it is our responsibility to make certain that qualified Bermudians are protected and assisted in the process. It is therefore our hope that the “balanced” criteria associated with the 10-year work permit is viewed as fair and equitable by all parties and reinforces that Bermuda is indeed “Open for Business and to Business”.
Thank you Mr. Speaker.
The kicker for IB will be equal pay and benefits for non bermudians and bermudians….too expensive for them….many already have 80+% Bermudians and could not afford to pay them the same and give housing etc that they give to ex pats….I wish they would but know they wont….keep trying though….
Too late.
Seems like PLP are trying to out-OBA the OBA.
Too late.
so what if IB says screw the regs of hoops and loops…this will still increase our cost of doing business in BDA…why not put up a wide screen monitor, a few well placed IP cameras and remote operate from anywhere in the world…beach, mountain, where-ever, and if you need to move from the office have an entry level IT guy do a remote hookup on a laptop and visually see and been seen anywhere a body can be…meetings by proxy, yea i know, not the same as sitting at the big over price boardroom table, but what can be done in person that can not be done with this remotely used equipment other than physically slap the guy next to you? Wake up BDA, these guys don’t have to be here….they want to be here…
Why don’t these politicians realize that we are not the only place on earth to do business? Do they do any research at all? What is it going to take for them to get PROactive instead of REactive? Bolting the door after the horses have left the stable only leaves us with empty stalls and the retreating sound of galloping hooves.
PLP YOUR WAY TO LATE LOTS HAVE LEFT AND PEOPLE OUT OF WORK!!!!!!
40 in 2009, 45 in 2010 and more business are incorporating this year than 2010! Your reply OBA people stunk! Like many markets around the world Bermuda is facing economic difficulty…however jobs are on the way!
This policy is a dead duck and will not stop the haemorrhaging of the international business communities exit. You can’t stipulate you have to have this many bermudians to quality and that many dark skinned van drivers etc etc. You can’t dictate to the excempt firms. when you do they leave and you get this progression towards a banana republic with a low standard of living. It’s just a matter of time before the government capitulates.
Unfortunately much of IB will not invest in Bermuda until PLP is gone. Hopefully IB will not have a long wait.
More money has been coming into this country under a PLP government than any other!
As demonstrated yesterday, OBA will sell Bermuda quickly to the international community than caring about the long term well being of Bermudians!
What, no support for this initiative from the ardent supporters of the current regime?
plp caterin 2 the rich now lmao
tell one thing de day we ALL bermudians get fedup
TRUTH BE TOLD folks thety need 2 be exposed serioulsyu
Minors failed at delivering a Tourism plan and now fails Bermudians and International business in one move.
I have visions of ranch hands dressed in PLP green chasing after the horse with the IB blanket on as it gallops through the paddok gate.
Too little too late. Too many hoops to jump through for any real benefit.
Y’all were warned by many but you ignored them all. You did not think IB would abandon Bermuda.
Think again then thank the PLP for ‘making it happen’.
it will have too many what ifs and howevers that it will be dead before launch….all electioneering by people who have no clue as to how to write logical legislation..the only thing that will wake up IB in Bermuda is a large catastrophic event of epic proportions that will cause rates to rise and capital to come in….so far this year is one of the worst ever and there have been a few companies set up but no where near enough to fill the gap caused by the Ewart Brown/David Burch regime….The PLP must be given credit for the way they give the illusion that they are doing something in the lead in to an election….The OBA have much to learn as they appear to be sitting on their hands thinking they have it won when I see it slipping away from them…..
As is typical with PLP policies … rather than make something straight-forward and easy to follow they consistently screw it up by introducing verbiage, complexity and unrealistic targets which the civil servants and Ministers charged with the overseeing its implementation will find impossible to do.
PLP – saying more and more and doing less and less since 1998