Premier Cox: ‘Bermuda Is Open For Business’
There have been five applications for concessions and exemptions under the Incentives for Job Makers Act and “tremendous interest” expressed by other companies, Premier Paula Cox said yesterday [May 23].
“The Incentives-for-Job Makers Act is the first in the menu of new offerings from the Government and outlined in the 2011 Throne Speech which demonstrates an openness and a willingness to forge meaningful partnerships and alliances with international business.”
The Premier said letters were sent to the CEOs saying: “We value your commitment to Bermuda. You will be aware of the Incentives for Job Makers Act 2011 which became effective 1st January 2012. This Act underscores the Government’s determination that Bermuda is welcoming to international business, and that Bermuda is open to and open for Business.”
The Premier’s full statement follows below:
Good afternoon,
I have reached out to the CEOs of Companies that continue to commit to Bermuda and Bermudians.
Letters sent to the CEOs include the following text:
“We value your commitment to Bermuda. You will be aware of the Incentives for Job Makers Act 2011 which became effective 1st January 2012. This Act underscores the Government’s determination that Bermuda is welcoming to international business, and that Bermuda is open to and open for Business.
“The Act achieves the right balance – it provides opportunities for Bermudians and rewards companies for sustaining their investment in Bermuda, especially in these economic times. I recognised those employers that have already demonstrated their long-term commitment to Bermuda by reducing the period of eligibility for a permanent resident’s certificate to three years as opposed to the ten years that would be required for any new investor.”
Minister Minors and I have made the decision to provide expedited work permit processing to those companies that have been provided the “gold seal” of Job Maker status to recognise that they have proven their commitment to Bermuda and Bermudians.
There have been a number of companies that have stated publicly that they are committed to Bermuda and keeping Bermudians employed and are consistently publicly defending Bermuda, including Lord Dupplin of Hiscox; David Cash of Endurance; Don Kramer of ILS Capital Management; Edward Stanley of Bacardi International; Tom Hulse of Ariel Re amongst many others.
There have been five applications for concessions and exemptions under the Incentives for Job Makers Act and tremendous interest expressed by other companies.
As a result of reviewing applications, I have been able to exercise tremendous flexibility in granting concessions and exemptions to those key staff that are responsible for keeping business in Bermuda and Bermudians employed.
I have also been encouraged by the evidence that these companies have provided demonstrating their commitment to employing and developing Bermudians and the investment made in developing Bermudians.
I must stress that all applications have been checked with the Departments of Immigration; Labour and Training; Registrar of Companies and Human Rights Commission to confirm that they are employers that promote fair employment practices.
The Incentives-for-Job Makers Act is the first in the menu of new offerings from the Government and outlined in the 2011 Throne Speech which demonstrates an openness and a willingness to forge meaningful partnerships and alliances with international business.
Thank you.
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Minister Patrice Minors full statement follows below:
Good afternoon,
I am ecstatic at the number of companies that have met with me to state their commitment to keep Bermudians employed. In particular, there have been companies that are looking to increase their presence in Bermuda by hiring more staff both Bermudian and key non-Bermudian staff.
As a result of their commitment to Bermuda and Bermudians, I have fast-tracked their requests. One company even informed me that they were considering leaving Bermuda and are now changing their mind and increasing their presence.
I am continuing to meet with the stakeholder groups and will continue to be open to their suggestions provided that those suggestions are linked to getting and keeping Bermudians employed.
CEOs and other key persons have an automatic exemption from term limits. This was approved by Cabinet last year and both the Premier and I had a press conference last year to announce this.
The categories of jobs include: Senior Executives, including Chief Executive Officer, Partner, Chairman through to the Executive level of Staff including: Treasurer, Chief Financial Officer, Chief Underwriter, Chief Broker and Chief Actuary amongst others; Persons with Executive responsibility and Heads of Departments, in cases where the continued employment and development of Bermudians is dependent on such persons being based in Bermuda; Senior catastrophe and finite insurance/reinsurance modelling analysts; Senior catastrophe and finite insurance/reinsurance modelling analyst; Experienced/specialised brokers actuaries and underwriters.
There also appears to be some misinformation that is prevalent in the business community. Such issues as:
- non-Bermudians who are resident cannot volunteer for charities;
- spouses of work permit holders do not have permission to seek employment;
- that the Government will not waive advertising for passporting; that is staff from other subsidiaries of international companies to come to Bermuda to work for a period of time.
All are untrue.
Bonafide residents do not need permission to volunteer for non-profit organisations; spouses have permission to seek employment and that is a condition added to their re-entry letters; I am already waiving advertising for cases of passporting.
There continues to be administrative processing and a 4-week turnaround for those job categories in the international community for key staff that are job makers and where no Bermudians apply.
However there continues to be aggressive vetting where there are Bermudian applications or where we have Bermudians unemployed and/ or are registered with the Department of Labour and Training.
I recognise that there has been some incorrect information that may have been given by the section.
As you can appreciate, there have been significant organizational changes in that section.
I will be meeting with the staff to clarify the policy and procedural issues that may be causing some angst in the international business community and may also be causing some concerns within the work permits section.
As stated previously, we will continue the dialogue with the business community. The priority that is first and foremost for this Government is the full employment of Bermudians.
Thank you.
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its all talk…reverse term limits stupid idiots! Burchs dumb ideas
I totally agree!!! I can talk I’ve reached out for help directly to the ministry and all I kept getting was things will get better. It’s now 4 years later and it has gotton worst. I know they say it get s worst before it gets better but as long as our own are in power over us it will be bad raceist beacuse our own are acting for themselves and the ones they choose to if your are not in their click to H311 with you.
both these woman are FOS
The PLP have sold out. In 2007, they derided the UBP by saying the UBP want to create thousands of status Bermudians. Now we have the great “protector of Bermudians” proudly announcing Term Limits don’t apply to many positions, and PRC elegilibility is being made easier so more can be created. Upward mobility for a great many Bermudians has just been halted. So much for Term Limits that the PLP were trumpeting to protect Bermudians.
According to the PLP term limits were not put in place to protect jobs for Bermudians. The entire purpose was to prevent the creation of another group of long term residents (who would have to be granted citizenship in the event the island becomes independent).
Depends on who was saying what at what time! Either way, they have just overturned both reasons, and they are creating hundreds of new long term residents with the abolition of Term Limits and grants of PRC.
hardly
I JUST WANT TO LOL PLP YOU ARE FULL OF IT!!!!!!!!!!!!!THE HOSPITALITY INDUSTRY IS SUFFERING BUT YOU ARE EXTENDING WORK PERMITS FOR JOBS THAT CAN AND SHOULD BE FILLED BY BERMUDIANS. I AM JUST WAITING PATIENTLY YOU WILL HEAR FROM ME IN PERSON SOON!!!!!!IT’S UNFAIR TO PEOPLE LIKE MYSELF. WE AS LOCALS IN THE WINTER GET AS MUCH AS 28 HOURS BUT THE GUEST WORKER STILL GETS THEIR 40HRS PLUS THEIR RENT PAID.
But is the Cog ready for business??? According to the Bermuda Sun EWB is ready to ‘help out’ the PLP in any way he can…. if the PLP win the next election are we going to see another appointed (but not elected) minister or even premier??? What surprises are pending from the We Had to Deceive You Party? Will Cog Cox be premier AFTER the election?????
Ewart, commisiong ,desilva walton dereck, wilson and minors,have their own plans for the up coming election !!! and it does not include cox.
I had some respect for Kim Wilson but she is all about herself and not the people of bda…
I think Cox will be ousted….Burch, brown and commisiong and desilva, are the ones to watch..
These men all have an agenda.
for the life of me I dont know what people want, short of letting every and any international person come to bermuda and have whatever they want. The government has made it very clear that they are enabling an environment where foreign business, foreign capital and foreign investment is welcomed and wanted. However, is the government supposed to open the floodgates and just let these companies have every single thing they want, just for the revenue, but then we have a society where Bermudians have no opportunity and it becomes a tale of two worlds. The government has to protect the Bermudian people culturally and socially, not just be a sole advocate for foreign investment. In my opinion that is what Premier Cox, Minister Minors, and Min Wilson before her were attempting to do.
I also wonder what the OBA position is – as Bob Richards said on tv, that they will get rid of term limits, and then figure it out later.
The government has not made it clear that they are enabling an environment where foreign business etc is welcome. They’ve said they are but that’s not the same thing.
Cog says she’s ” open for business”, (a phrase she’s over- used over the past 7 or 8 years) and at the same time Ewart says he is thinking of making a comeback.
So which is it? Will there be some attempt to retain what IB is left, or is Ewart going to take back to 2008 so that we lose what remains?
They should let us know. If we have to start looking for new careers and lives somewhere else in the world, let us know.
EB,the Colonel, Rolffe, Derrick – things are taking shape.
jt, you forgor Desilva and wilson..
What a load of political spin. How disconnected is this woman from reality ?
One of the very companies she names just axed 18% of it’s local workforce and every single one of them was Bermudian .
And further to that , the 2nd last CEO of that company said that of all the places he had worked in the world (over 28 countries) the government here was the WORST he had ever had to bear.
So believe what you wish that ever comes from this lot . These companies are not committed to staying here forever. For the most part they’re just holding out for a change in government.
You are in the know, these companies are just waiting to see what will happen in the upcoming election,because they are fed up with P.L.P. and their policies.
Paula is lala land and her own ministers will tell you that she is…they have lost all respect for her….. so where does that leave we Bermudians ? no leadership once again !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
We must not allow Ewart to make a comeback of any sort. He needs to stay away; he has already done enough damage, no? We need to band together as a people and ensure that this same person is not allowed anywhere near Bermuda, the political arena, etc. His puppet, Paula, is just sitting idly by awaiting the return of her puppet master, and unfortunately, if she has anything to do with it, he will be back wreaking even more havoc on our already screwed up island.. Take the “horse blinders” off people. Ewart, go away!
Carla , how can we stop ewart ? and I agree with you Paula is a puppet. remember Brown had a score to settle,God please have some mercy on this isle of devils and politicians……the thought of Ewart making a comeback will scare the exempt companies that are here away and to think that Burch might also be invoved in some way !!!!!!!!!!!!! right thinking Bermudians you all need plans to vacate this Island…
Ewart Brown will be Premier again within the next 5 years. Just wait and see Bermuda!
People we need to stop the madness,do not let these people ruin our lives, all they want is to better their lives and to hell with us lot.
Wouldn’t Ewart only become Premier if “we the people” vote him in? Don’t we have a say in the matter? I thought that we were a part of the western world. We are not Cuba. We must not lay down and take it. We all have a right to be heard.. Why would he want to come back here, anyway? To finish what he started? God help us!