If you’re looking to relocate or purchase a home away from home, Bermuda could be the perfect location. The island’s relaxed culture and stunning surroundings make it one of the world’s most sought-after destinations.
But how easy is it to gain a residency permit on the island? And what steps do you need to take to acquire your own? In March 2021, Bermuda launched its own residence permit by investment programme.
In this blog, we’ll explain how this programme works, the different investment opportunities on offer and why Bermuda is such an attractive destination for people looking to relocate.
- How Does Bermuda’s Residency By Investment Programme Work?
- What Investment Opportunities Are Available?
- What Does Life In Bermuda Look Like?
How Does Bermuda’s Residency By Investment Programme Work?
Bermuda recently launched a new investor visa programme — the Economic Investment Certificate (EIC). The programme has been created to allow applicants, their spouse and any dependent children the right to reside in Bermuda for five years.
To qualify for an EIC, a minimum investment of $2.5 million must be made in one of seven areas. There’s also an initial cost of $2,265 to acquire the certificate.
Once the investor has acquired their certificate, they must meet two conditions to keep their certificate and residency status on the island. Firstly, they must own the investment object for a minimum of five years and spend at least 90 days a year in Bermuda.
Once the five years have passed, the EIC holder will be eligible to apply for a Residential Certificate. This provides them with the opportunity to reside in Bermuda indefinitely.
Read on to discover the investment opportunities available to qualify for an EIC.
What Investment Opportunities Are Available?
There are several areas where someone could choose to invest their money to receive an EIC. These include:
Residential or Commercial Real Estate in Bermuda
You might want to purchase the second home you’ve always dreamed of. If so, the investment of $2.5 million can be spent on residential or commercial property. Learn more about how to purchase property in Bermuda as a non-Bermudian here.
An Existing Bermuda-Based Business
There are over 15,000 Bermuda-based businesses. Another way to acquire an EIC is to invest the $2.5 million into an existing business that operates on the island.
The Development and Launch of a New Bermuda-Based Business
Did you know that around 75% of the Fortune 500 companies have some presence in Bermuda? With so many new businesses established on the island, there are many opportunities to invest in new Bermuda-based businesses.
Bermuda Government Bonds
There’s also an opportunity to invest in government bonds. Find out more about Bermudian government bonds and the potential yield they can generate here.
A Bermudian Registered Charity
You may also consider investing in a registered charity on the island. Discover the full list of registered charities in Bermuda here.
So, now you know a little more about Bermuda’s residence permit by investment programme and the areas where you could invest your money — but what would life look like once you’ve become a resident on the island? Keep reading to get a clear picture of what life in Bermuda looks like.
What Does Life In Bermuda Look Like
Nowhere in the world compares to Bermuda. The island is unique in so many ways. Of course, this includes the beaches — miles upon miles of pink, soft sand.
Bermuda is a sub-tropical island. The weather is generally pleasant all year round, freeing up plenty of time to get involved in a range of activities, both on land and in the water.
Snorkeling, scuba diving, golfing, hiking, cycling — whichever takes your fancy, Bermuda can offer. The island is only 21 square miles long too, so you’ll never have to travel too far to enjoy your activity of choice.
When you need time to relax, Bermuda is home to many exceptional restaurants and bars. There are pockets of culture in every corner of the island. Take St. George, for example. Located on the east of the island, you can wander the cobblestone streets and relish Bermuda’s rich history and heritage.
Getting around the island is easy too. If you aren’t considering purchasing a second car, cycle rentals and a ferry can help you get from A to B. The reasons to buy a property and spend more time in Bermuda are clear. But what’s the best avenue to go down in terms of investing?
That’s where Bermudiana Beach Resort, Tapestry Collection by Hilton comes into the equation. A place that’s home to 94 luxury condominiums overlooking the turquoise ocean.
We've created a new guide to give you a better idea of what Bermudiana Beach Resort offers and why it could be the perfect place to purchase your dream vacation home.
Your Gateway to Paradise Starts Here
So, you know Bermuda is the place you want to own your second home, but what is it about Bermudiana Beach Resort that makes it so unique? Our condominium and ownership structure makes owning a property in Bermuda affordable.
There’s also an excellent opportunity to achieve a return on investment when you aren’t here. To find out more about the opportunity and what life as a Bermudiana Beach Owners Club member could look like, download our guide.
