354 ‘Work From Bermuda’ Certificates Approved
452 applications have been received thus far for the Work from Bermuda One Year Residential Certificate, with 354 of them being approved, Premier David Burt said.
Speaking at last night’s [Oct 13] press briefing, Premier Burt said, “I would like to provide an update on our ‘Work from Bermuda’ initiative. I am pleased to report that since the Initiative was launched on 1st August, we have received 452 applications. Of the 452 applicants, 354 were approved and we look forward to a high percentage of them working and residing in Bermuda.”
When the initiative was launched back in August, the Premier said, “This government invites individuals who are already working from home to work remotely from Bermuda instead. Covid-19 has impacted the world. Overnight, companies have had to solve the problem of employees being able to work outside of the office.
“There is now the opportunity for employees, who I refer to as digital nomads, and university students to work and study, remotely from Bermuda.
“Applicants for the One Year Certificate must have the means to support themselves while working remotely, and cannot seek work in Bermuda.
“Bermuda has successfully managed the Coronavirus pandemic,” the Premier said. “This has kept transmission of the virus to a minimum which allows our residents and visitors flexibility not seen on other jurisdictions. We look forward to welcoming these new long term visitors to our shores.”
and we look forward to a high percentage of them working and residing in Bermuda … so how many are here Mr Premier?
Exactly! I don’t care how many were approved. “Approved” does not equal “arrived with suitcases”. Many of these approved have no intention of ever moving here unless things go really wrong where they are now. This is the cheapest insurance policy around: less than $300 you can go stay in Bermuda if all else fails. Very cheap. But until we see suitcases unpacked and rental agreements signed, this only means a measly $300 a pop added to our sad economy.
I just dont understand how these people can afford living here without employment. The cost of living in Bermuda is very high.
They are not living here without working. They are working online and not having to pay taxes also.
All this is doing is keeping the rents in orbit as landlords will be looking to cash in on these people.
This might actually keep some people from losing their homes.
Many people in Bermuda depend on rents to meet their monthly mortgage payments. With the way people have been fleeing our shores for the last 10 or 12 years, this initiative should be welcomed by all.
Wasn’t there a promise to approve these Residential Certificates within 5 days??? More broken promises?
354 people? For a whole year? Wow. Didn’t the America’s Cup keep 3 times as many people as that for the better part of 3 years?
Gee. Way to go, PLP.
So now that I am approved as a Bermuda resident fort the next year. I can save on my income tax even if I don’t have a Bermuda address?
Is this how it works????
I have three questions:
1. Exactly how much money is needed to be shown as proof of monthly income to be eligible for this certificate?
2. If I am in the process of transition from my current employer to a new employer, ie, on a short break, will I be eligible for this certificate?
3. Should I need to have regular monthly income for this or can I show money in my savings as the proof of income?
Don’t worry about any of this – just come as a tourist for 6 months. Leave the island for a day then come back for another 6 months. (the length of time a visitor can stay has increased from 90 days to 6 months.)
Is it possible to come back again in the same year? Also, can I work with a tourist visa in Bermuda for the period? I will soon be joining a US based company from India as a remote worker. The company don’t have a branch in India and hence technically I will be a remote worker.
What i dont understand is what is a benefit of living in Bermuda unless there are some tax breaks or other incentives like free medical coverage etc.
For example, someone who lives and works in Toronto, Caanada lets say moves to to Bwrmuda for one year as they can work rmotely what is the benefit they have besides better weather? They will end up spending more money than living in Toronto, will still have to pay taxes in Canada etc.
Can someone help me understand please.
covid
They also get unreliable, expensive, slow internet access, and unreliable, expensive electricity. The two things they need to “work remotely”.
I would like for you to ask
what is the breakdown for those persons coming here?
Students
Where are staying with
Adults
Number of males
Number of females
Where are they residing
Staying with Family
Staying with Boyfriend / Girlfriend
Renting
Most of what I read here are the negatives of this 1 year Residency Certificates by the commenters. This is being done elsewhere too.
May the positives of this new system keep helping Bermuda & any slackness or negatives of it be stopped or controlled.
I was approved on this scheme and arrived here some months ago. This government seems to display more common sense than the government that was in power a decade ago.
Jay – the attractiveness of this scheme lies in the ease with which you can apply and be approved and you are treated as a long term resident so provided the laws of your home country do not continue to treat you as a tax resident you may not have to pay income or company taxes. The catch is that you need to be earning enough money (and therefore save enough tax) to justify the exorbitant cost of living in Bermuda – and/or simply love this gorgeous island enough! I have rented an Airbnb long term (despite the tax on Airbnb’s it is still better than having to negotiate rental contracts!) and it’s nice to have a Bermudian host that lives on the premises. I have just spent almost $10,000 incorporating an exempted company here and all the money I spend here on rent, groceries, health insurance, taxis etc is earned overseas so it goes straight into Bermudian’s pockets (we are not allowed to seek work here, which is the way it should be for this type of permit).
I hope the government retains this scheme, which has the potential to offset a loss of tourism revenue due to COVID and provide an introduction to Bermuda for those people like me who can’t be bothered with chest X-rays, medical examinations and mountains of forms! Thank you Bermuda
An interesting comment especially as the Government today is the same as a decade ago. More so are your comments regarding your status here and that you formed an exempt company but have avoided much of the bureaucracy. I would think there will be many companies here wondering why they go through all the headaches of getting work permits and paying payroll tax etc. Good luck to you, but this has just opened up a pandora’s box, which may result in an overall loss of jobs.