“Estimated Value-Added Of $23.3 Million’

November 4, 2021 | 8 Comments

[Updated] Minister of Labour Jason Hayward is holding a press conference this morning [Nov 4] to provide an update on “immigration initiatives in support of Bermuda’s economy.” We will have additional coverage later on and in the meantime the live video is below.

Update: The Minister said that since the launch of the ‘Work from Bermuda’ [WFB] initiative on August 1st, 2020, the Government has received 1081 WFB applications, of which 937 have been approved.

“Thus far, 638 of the 937 WFB certificate holders moved to Bermuda. Currently, 206 families continue to reside here, and as of October 28th 2021, 74 WFB certificate holders were approved for a further one-year extension,” he said. “In the first year of implementation, the WFB certificate has had an estimated value-added of $23.3 million in Bermuda’s economy.”

Update: The live broadcast has concluded and the 11-minute replay is below

Update 12.00pm: Minister Hayward’s remarks:

Good day to members of the media and the listening public.

One Year Work from Bermuda Certificate

I am pleased to report that since the launch of the ‘Work from Bermuda’ [WFB] initiative on August 1st, 2020, The Government of Bermuda have received 1081 WFB applications, of which 937 have been approved. Thus far, 638 of the 937 WFB certificate holders moved to Bermuda. Currently, 206 families continue to reside here, and as of October 28th 2021, 74 WFB certificate holders were approved for a further one-year extension. I am encouraged that new applications are submitted on a weekly basis, and persons on WFB certificates continue to expand their families on the island.

In the first year of implementation, the WFB certificate has had an estimated value-added of $23.3 million in Bermuda’s economy. Overall, the benefits of this policy include: boosting economic activity, enhancing Bermuda’s brand and reputation as an attractive travel destination and/or a place to live, boosting the local real estate market, and it presents an opportunity for a short term stay to blossom into a long-term investment.

As a result of the WFB certificate, various local business opportunities have arisen, creating needed economic activity and jobs. Additionally, one WFB certificate holder has been converted into an Economic Investment Certificate holder, meaning the non-Bermudian has invested over $2.5 million into the Bermuda economy and has decided to make Bermuda their home.

Through the work of the Bermuda Development Agency and the Bermuda Tourism Authority, the promotion of the WFB initiatives continue. Non-Bermudians are invited to work or study remotely in Bermuda, where life is tranquil, the weather is perfect, and the people are super friendly.

This certificate presents a win-win for both the visitor and Bermuda. Attracting people to reside in Bermuda for durations of one year assists in boosting Bermuda’s economic activity. Additionally, the requirement that they can only be employed by businesses outside our country ensures they do not compete with Bermudians for jobs.

This policy targets individuals who:

  • have the financial means to fully sustain themselves;
  • would like to work in Bermuda in a non- Bermuda-based or a non-Bermuda registered legal entity or partnership; or
  • would like to complete their post-secondary studies from Bermuda.

Individuals can apply for a WFB certificate through the Governments forms portal at forms.gov.bm. The WFB program remains open to potential residents who meet the eligibility criteria.

Permission to Reside on an Annual Basis

Non-Bermudians should also be aware the WFB certificate is not the only program that allows individuals to reside in Bermuda. Those who meet the eligibility requirements may apply for Permission to Reside on an Annual Basis. While referred to as “Permission to Reside on an Annual Basis”, permission can be obtained for periods of up to five [5] years.

This program is particularly attractive to globally retired individuals, dependents of work permit holders and owners of hotel and tourist accommodations.

Anyone interested in residing in Bermuda for a year or more should go to: www.gov.bm and complete the application For Residence Form.

The Ministry of Labour remains entrenched in establishing effective policies that will foster the expansion of jobs and economic growth. The WFB initiative is in direct alignment with Bermuda’s Economic Recovery Plan. Through our National Economic Recovery Plan, the Government will take decisive action to restore consumer and business confidence and stimulate our economy, creating a clear path to growth and employment. The policies highlighted today aid Bermuda in minimising the adverse effects of the global pandemic.

Thank You.

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Comments (8)

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  1. Joe Bloggs says:

    No! No! No! This must not be allowed!

    Surround Sessions House! Do not let Parliament sit!

    Rev. Genevieve, where are you?

  2. Guy Carri says:

    Well done! Now how can we entice the ones that were approved but didn’t come to come?

    Looks like PLP is forgetting the amount of vilification they spewed towards attracting foreigners. Now it’s at the top of their agenda and their greatest hope…..since sugar tax of course….

    • iyiyi says:

      In the last several years it seems that anyone can be voted in to lead this country doesn’t matter if they are qualified or not so why would it be any different in the workplace .
      It would be great if we had qualified Bermudians to fill both !

  3. Ringmaster says:

    “boosting the local real estate market” is code for taking renting and buying out of the price range of many hopeful young Bermudians with families. Those in public administration and sheltered from the economic fallout from Covid and the Government restrictions are OK but many in the private sector are hurting badly, competing with people (CS) paid with debt and nomads who pay no tax. Not a peep from the PLP faithful aided and abetted by the likes Hayward who a few years ago were marching and shouting down any proposals from the OBA to increase immigration, the benefits of which are now boasted about by the likes of Hayward.
    Not a word to thank expats who have been here years and raised families and paid millions into the economy. No, they are still the enemy.

  4. frustrated says:

    I spent almost 20 years working in Bermuda, before coming to the conclusion that whatever I did I would never be allowed to stay permanently, so I quit. I know for a fact that the job I was doing is now being done by an unqualified Bermudian, even though the job description sets out minimum criteria which are nowhere near being met.

    PLP are paying lip service, they do not really have a clue.

    • Mixitup says:

      As a Bermudian, I state the same with once change (In caps) and I quote ” I spent almost 20 years working in Bermuda, before coming to the conclusion that whatever I did I would never AFFORD to stay permanently, so I quit, along with 3000+ other Bermudians. You can have my spot, as Sandgrownan is all to ok with, as I have not once heard him speak up for Bermudians being forced out of their land.

      • SandgrownAn says:

        Why do you think I’m so angry at the PLP and the muppets that continually vote for them?

        Think about it.

  5. sandgrownan says:

    638 generated $23.3m ? Well done.

    Imagine what 5000 expats would have generated over 20 years if you hadn’t chased them away. Idiots.

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