International Investors Can Now Apply for Bermuda’s New Residency Certificate
Applications for the Bermuda government’s new Economic Investment Certificate (EIC) opened on March 1, 2021. Recipients are required to invest a minimum of $2.5 million in certain Bermuda industries, sectors, charities, or government programs to receive residency rights for five years. After five years, certificate holders can apply for a Residential Certificate.
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Prospective EIC recipients who meet the eligibility criteria can invest via several different ways, including: buying real estate (residential or commercial); purchasing Bermuda government bonds (minimum of five years); contributing to Bermuda’s Sinking Fund; donating to a Bermuda registered charity; making an equity investment in an existing Bermuda-based business, excluding exempted undertakings; launching a new Bermuda-based business; or investing in a social or other venture benefiting Bermuda, as approved by the Minister.
To ease the process for prospective EIC applicants, the Bermuda Business Development Agency (BDA) offers a dedicated and personalized business concierge to act as a single point of contact. Interested parties can schedule a confidential conversation to learn more about the certificate itself and the wider opportunities Bermuda provides.
“This policy has been designed not only to attract new investors to the island, but to provide a clear option for those who have already made significant contributions to Bermuda. We have already started having conversations with individuals who have expressed a keen interest in applying for the program and will now work with them, together with the Bermuda government, on the details of their application,” said Roland Andy Burrows, CEO of the Bermuda Business Development Agency. “Choosing where to call home is a significant decision, and we look forward to building relationships based on a real understanding of individual and family needs and demonstrating how Bermuda can meet, and exceed, those needs — not only now but for the future.”
In Bermuda, EIC recipients will find a welcoming and vibrant community that benefits from one of the highest standards of living in the world. The island offers a safe and sophisticated lifestyle supported by a world-class legal and regulatory environment with experienced professional advisors, access to excellent schools, and a top-tier health care system. As a stable, long established, and entrepreneurial destination, international investors can be confident Bermuda is the right place for them and their family to call home.
Stunning beaches — including Horseshoe Bay, recently named one of the top 25 island beaches in the world by Condé Nast Traveler — phenomenal golf courses, yachting tournaments, restaurants, bars, museums, and festivals all add to the experience. And for those who need easy travel access to prominent markets and gateways, Bermuda is just 90 minutes from New York and a direct flight to Toronto and London (with British Airways operating from Heathrow Airport as of March 28).
Significantly, throughout the COVID-19 pandemic, Bermuda has demonstrated its ability to respond swiftly and decisively to remain a safe destination. The country currently ranks fifth in the world for testing and seventh in the world for vaccinations per capita.
To express interest or to complete an application for the Economic Investment Certificate, please visit https://www.bda.bm/economic-investment-certificate/ .
The BDA encourages direct investment and helps companies start up, re-locate or expand their operations in our premier jurisdiction. An independent, public-private partnership, we connect you to industry professionals, regulatory officials, and key contacts in the Bermuda government to assist domicile decisions. Our goal? To make doing business in Bermuda smooth and beneficial.
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