Bermuda

About Bermuda Citizenship and Residency

Bermuda is a British Overseas Territory that operates under UK Common Law.  The country benefits from a favorable tax regime. Individuals in Bermuda do not pay personal income tax. Instead, the Government of Bermuda levies a Payroll Tax.

Investment options available to acquire the citizenship and passport of Antigua and Barbuda. 

Once applicants have held a residency in Bermuda for ten years they may be eligible to apply for Bermuda Citizenship and therefore become British Overseas Territories citizens. Citizenship rules vary depending on the individual’s circumstances and connections with the country.

A. Economic Investment Certificate (EIC)

It provides you and your family the opportunity of living and work on the island for five years to see your investment prospects realized. After which, you are eligible to apply for the Residential Certificate for the right to reside in Bermuda indefinitely.

Requirements And Qualifications

To be eligible for an Economic Investment Certificate (EIC), an applicant must make a “Qualifying Investment” of at least BM$2.5 million in one or more of the following classes:

– Residential or commercial real estate in Bermuda;

– An existing Bermuda-based business;

– The development and launch of a new Bermuda-based business;

– Bermuda Government bonds;

– Bermuda Registered charity in the areas of sports development, youth, seniors, and health;

– The Bermuda Trust Fund or Sinking Fund; or

– Other social or useful venture that benefits Bermuda, Bermudians, and things Bermudian may be determined by the Minister responsible for Immigration.

Applicants must be at least 18 years old, have not been convicted of an indictable or dishonesty offense, be of good character, and be in compliance with the Bermuda Department of Health requirements and protocols. Persons already residing in Bermuda who satisfy the criteria can also apply. The same requirements also apply to the dependents as well.

An application fee of BM$2,625 is payable.

Ongoing requirements for successful EIC applicants include the obligation to maintain the “Qualifying Investment” for at least five years and that the applicant resides in Bermuda for at least 90 days in each of the five years following the grant of the EIC.

The EIC granted by the new policy is valid for five years, after which EIC holders are eligible to apply for a “Residential Certificate”. If successful, they will have the right to reside in Bermuda indefinitely.

Residential Certificates can however be revoked if the holder continuously resides outside of Bermuda for two years or more, without seeking prior leave from the Minister.

Once applicants have held a residency in Bermuda for ten years they may be eligible to apply for Bermuda Citizenship and therefore become British Overseas Territories citizens. Citizenship rules vary depending on the individual’s circumstances and connections with the country.

B. Permanent Resident’s Certificate

If you have a Permanent Resident’s Certificate (PRC), you have the right to live and work in Bermuda and to purchase Bermuda property with a lower Annual Rental Value (ARV).

The Bermuda Immigration and Protection Amendment Act 2021 will be brought into force on 1 December 2021. 

The Department of Immigration will begin accepting applications under the provisions of the amended legislation on January 1, 2022.

2021 Amendment 

 The 2021 amendment act enables certain long-term residents to apply for a permanent resident’s certificate.

Government’s proposal aims to address this issue by expanding the eligibility criteria for the granting of PRC under section 31A, to include any person who has been ordinarily resident in Bermuda for at least 20 years. While the policy paper states that this change is aimed at assisting “Persons who have continuously worked in Bermuda and seek to continue to make Bermuda their home“, it does not appear that having worked (as opposed to merely having resided) in Bermuda will be a condition of acceptance, although the amending legislation remains to be seen.

The cost of the PRC application under section 31A is also to be reduced, from $50,000 to $10,000.

This change will be beneficial for LRT work permit holders, as well as their employers, who would no longer need to renew their work permits and pay the related fees.

The policy paper also sets out proposed changes to assist mixed-status families, under which the following categories of people will now be eligible for PRC:

• Persons who were born or arrived in Bermuda at an early age and have been ordinarily resident in Bermuda;
• A divorced or unwed parent of a Bermudian child;
• Children of first- and second-generation PRC holders who have been ordinarily resident in Bermuda.

These changes will assist, amongst others, non-Bermudian parents of Bermudian children, who would otherwise have had to leave the island after their child’s 18th birthday, and second-generation PRC holders who are currently unable to pass PRC on to their children.

The current application fee for a PRC under section 31B will remain at $3,150.

The aforementioned changes are to be read in conjunction with the requirements given below.

Requirements And Qualifications

You can apply for a Permanent Resident Certificate from January 1, 2022, if:

• You have been ordinarily resident in Bermuda for at least 20 years, including the two immediately preceding his application;
• You have been ordinarily resident in Bermuda for at least 15 years, including the two immediately preceding his application if he is a non-Bermudian parent of a son or daughter who possesses Bermudian status;
• You are the son, daughter, or spouse of a person who was granted a PRC.

Under Section 31A, you may apply to the Minister of Immigration for a PRC if:

• You have been exempted from Part V of the Bermuda Immigration and Protection Act 1956, under section 5 of the Economic Development Act 1968 for at least 10 years;
• You have been ordinarily resident in Bermuda for at least 10 years; and
• You have been ordinarily resident in Bermuda during the 2 years immediately preceding this application. 

Under Section 31B, you may also apply to the Minister for a PRC if you are:

• You are the son or daughter of a person who has been granted a PRC under Section 31A, and you are above the upper limit of compulsory school age; or
• You are the spouse of a person who has been granted a PRC under Section 31A, but you do not qualify for the grant of a PRC or Status.

(For further information see http://www.bermudalaws.bm/ for the Bermuda Immigration and Protection  Act, 1956 and the PRC application form.)

• Be 18 years of age or older;
• Have been ordinarily resident in Bermuda for a period of at least 15 or 20 years;
• Be of good conduct and character.

Naturalization:

Any person who is not a Commonwealth citizen must be naturalized as a British Overseas Territories Citizen to acquire Bermudian status which requires a legal residence of 5 to 10 years depending on the section you apply for.

Benefits Of The Bermuda Residency By Investment Program

1. The certificate holder may live, work and do business on the islands.
2. After five years, it is allowed to apply for permanent residence.
3. Citizenship after 10 years of continuous residency.
4. Safety and stability.
5. Ease of doing business.
6. Top tier education and healthcare systems.
7. Competitive tax regime.
8. English is a primary language.  Open, accessible and business-friendly

Bermuda Residency Requirements And Qualifications

The requirements and qualifications required to obtain Bermuda residency or citizenship are listed above in the “About Bermuda Citizenship and Residency” section.

Steps And Timeline

• STEP #1: Visiting the department of immigration website
• STEP #2: Identifying the application of interest
• STEP #3: Download the Application Form
• STEP #4: Printing the application form and obtaining all required documents based on the notes checklist.
• STEP #5: Making an online payment
• STEP #6: Submitting the application and all required documents in the Immigration Drop Box
• STEP #7: Waiting for communication from immigration team

Firstly, you should visit the department of immigration website: https://www.gov.bm/department/immigration.  There you need to Identify the application of interest and then select from a list of processes. The next step is to Download the Application Form. After that, one should print the application form and complete application form with black (for passport applications single-sided paper and black ink only) or blue ink. Obtain all required documents based on the notes checklist After that, one should make an online payment to the HSBC bank Account to include a description

• • eg FULL NAME DOB Type of Application i.e. JOHN MOE 27 MAY 1978 Passport (View all Immigration Fees and online payment guidance)
  • Make a copy of the online payment receipt and include it with your application submission

After completing the previous step, submit the application and all required documents in the Immigration Drop Box on the First Floor of the Government Administration Building with a copy of the online payment Confirmation. After that, a member of the Immigration Team will contact each applicant to advise if items are missing via email. Once all items are submitted and the Application is deemed complete the applicant will be duly advised along with the expected timelines.

Our Services

Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:

• Find the best solution for your needs.
• Identify and deploy a strategy to help you accomplish your goals.
• Activate our network of people in the country where you need help without having you search for the best solution or lawyer. We only work with licensed people in every country whom we carefully vet and pass our guidelines and principles of privacy we stand for.
• Focus on cutting through the red tape and expedite your process.
• Provide proper communication with you about your case.
  …. and above all: Offer you legal strategies to provide additional layers of privacy for your identity, while obtaining your residency or citizenship!

Privacy World can also help you with incorporating your company in Bermuda, assisting in getting you settled in the country and coordinating with you so that this experience will be less of a hassle.

Want Privacy World to handle your case? Have any questions? Contact us!

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