Incentives For Job Makers Act 2013 Now Operative

Bermuda's Incentives for Job Makers Act 2013 is effective today, making it simpler and more affordable for non-Bermudian senior executives to be granted permanent residency and be exempt from requiring work permits.

Key highlights of the legislation include:

• Reduces the number of Bermudian employees required in order for companies to qualify for the programme from 25 to 10 
• Reduces the fee for Permanent Residence Certificate applications - from $120,000 to $25,000
• Eliminates the delay until 2015 in which applications can be made - applications can be made immediately on meeting the criteria
• Eliminates the cap of only five applicants for exemption per company
• Potentially enables individuals who have worked for more than one employer in Bermuda to meet the ten year requirement