‘Work From Bermuda’: 900 Residents & $23M
According to the recently released Ministry of Labour Year End Review 2021, the one-year Work from Bermuda policy “yielded over 900 residents and generated over $23m into the economy.”
The policy was launched back in August 2020, and allows people who have “the means to support themselves while working remotely” to apply to live in Bermuda for one year.
In listing off policies which they said “established sustainable frameworks which promote economic growth and engagement,” the 2021 Year End report said, “The Ministry of Labour has:
- “1. Implemented the Economic Investment Certificate and Residential Certificate policy entitling a person to reside in Bermuda. As of the creation of this document, this has generated over $45 million through direct investment in the Bermuda economy.
- “2. Implemented the One-year Work from Bermuda policy which yielded over 900 residents and generated over $23m into the economy. Also referred to as “Permission to Reside on an Annual Basis”, permission can be granted for periods of up to five [5] years. As of November 2021, two hundred and six [206] Work from Bermuda Certificate holders remain on the island.
- “3. Increased visitor stays, permitting them to remain in Bermuda for an additional 90 days for a total of 180 days.”
The idea started in Barbados. We just copied it.
Real who cares. People like you are the reason we’re so divided. Stop being a idiot.
A lot of people would care. They like to know how things work, why things happen, and where things come from.
Don’t be afraid of the truth. Face the facts . It was not a new bda thought out policy.
I think these policies are amazing! With the tourism product dwindling, even before Covid, this is an amazing injection of cash and energy into Bermuda!
It is said that when something looks too good to be true, it probably is.
The Government has a long history of being an alien to the truth & any good news figures produced by it should be thoroughly questioned.
How many previously long term tax paying residents were relocated to cheaper locations? Even Government had outsourced jobs overseas. $23m sounds fine but not if Bermuda lost say $50m from former residents, which is very likely in view of decline in the resident population.
23Million by 900 is 25,555.55 by 12 month is only2129 a month. Guess they aren’t eating and paying next to 0 rent. A worthy attempt but we need much much more imo
Agree, the govt numbers are nonsense. Makes no sense whatsoever.
Very little information from Government makes any sense because there is never any detail or facts behind the numbers. They get away with it because no one challenges them.
they are the best BS artist in the world, so much so they can’t follow their own lies or deceit.
In an era where the goal of everyone seems to be to just criticize and bash, i think we can see that the implementation of this policy was beneficial to Bermuda’s economy. Well done.
Picking around the edges of a fiscal hole created by the inept PLP
So now you realize the benefits of immigration? Typical.
You didn’t say anything like that during AC35.
How’s your privy council appeal going? Are you able to legally discriminate against a very small section of Bermudian society yet?
Just think how much better the economy would have been had the idiots not been chasing people away since 2000.
The PLP. Bad for business, bad for the economy, bad for Bermuda.
Each time we have these sort of information, A huge $68m income being published I expect more acounting details meaning, how much was Income via Govt Fees, So the 23m from 900 persons means each person spent $25,555.00, how many direct investors were there for the $45m? Approximates of private sector income that is, spent on Rental/groceries etc… One may ask what does it matter?? I believe it is important to create True Data for proof of the policy being successful. If this is just short-term due to Covid or could it be enhanced to be the Implementation of a New Sector..mind you, Bermuda’s Cost of Living status is the Determining Factor if this being longterm/sustainable.