The government lauds increased inward investment in the territory as a success
Bermuda’s Minister for Economy and Labour Jason Hayward has announced that the total number of Economic Investment Certificate (EIC) holders has exceeded the government’s expectations and the amount invested since the programme launched in March 1, 2021 amounts to approximately $349.6 million. EIC recipients are required to invest a minimum of $2.5 million into the Bermudian economy but actual figures tend to exceed this amount.
The amounts contributed can be further subdivided into approximately $94 million spent on real estate purchases and more than $255 million invested into new and existing businesses.
The government has approved 19 applications which cover 48 persons, including dependents, and more than 41 persons have registered their expressions of interest in the programme.
Under the EIC and Residential Certificate policy, EIC holders who seek to reside in Bermuda indefinitely may apply for a Residential Certificate after five years. An EIC’s or Residential Certificate holder’s spouse or dependent will be subject to Bermuda’s work permit policy should they wish to work.
