Bermuda Offers Economic Investment and Residential Certificates Under New Policy
Under Bermuda’s new Economic Investment Certificate and Residential Certificate Policy, non-Bermudian individuals who invest at least $2.5 million in the island receive the right to live in Bermuda along with a path to long-term residency after a period of five years. Unlike previous policies, successful applicants also receive automatic approval to work. The new policy came into effect on 1 March 2021.
The Economic Investment Certificate is valid for five years, after which holders are eligible to apply for the Residential Certificate. If successful, they will have the right to reside in Bermuda indefinitely with their dependents. The certificates are likely to appeal to high-net-worth individuals interested in relocating to Bermuda, as they will be able immediately to work in the businesses in which they invest.
Eligibility and Application Process
To be eligible for an Economic Investment Certificate (EIC), the applicant must make a “Qualifying Investment”, which is an investment of at least BM$2.5 million – or the equivalent in another currency or asset – in one or more of the following:
- Residential or commercial real estate in Bermuda
- Bermuda Government bonds
- The Bermuda Sinking Fund
- The Bermuda Trust Fund
- A Bermuda-registered charity in the areas of sports development, youth, seniors and health
- An existing Bermuda-based business
- The development and launch of a new Bermuda-based business
- Such other social or useful ventures that benefit Bermuda, Bermudians and things Bermudian as may be determined by the Minister responsible for immigration
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Bermuda Offers Economic Investment and Residential Certificates Under New Policy
