Digital nomads have invested an estimated $28m in the economy – The Royal Gazette
Updated: August 09, 2022 22:29
Jason Hayward, Minister for Labor and the Economy (File photo by Akil Simmons)
The Work from Bermuda program launched two years ago today has raised more than $28 million for the island, the Department of Economy and Labor announced.
A spokesperson said the government had accepted 1,315 applications, of which 1,127 were approved.
There are 234 WFB certificate holders living in Bermuda.
As well as boosting economic activity on the island, the program has been credited with enhancing Bermuda’s brand and reputation as a travel destination and place to live.
The spokesperson said the department had been “encouraged” by the volume of new applications each week, as well as digital nomads choosing to renew their stay for another year.
Only companies off the island can employ certificate holders in order to protect local jobs.
Applicants must demonstrate that they have the means to support themselves financially while working in a legal entity or partnership not based in Bermuda or not registered in Bermuda.
Holders can also complete their post-secondary education in Bermuda.
Promotion of the program continues through the Bermuda Business Development Agency and the Bermuda Tourism Authority.
Certificate requests can be done online via the government portal forms.gov.bm.
Eligible persons from abroad are also able to apply online for residence permit on an annual basis, which can be granted for a maximum of five years.
The program has proven attractive to retirees, dependents of work permit holders, and hotel and tourist accommodation owners.