Centuries after Bermuda was first populated, people from all over the world Continue to floCk to these islands in the hopes of making them their new home. You’ve marvelled at the pink beaches and savoured the fish chowder. Days and nights filled with nothing but relaxation and peace — but with all the modern conveniences and business opportunities of home — have piqued your curiosity as to how to make your extended vacation in Bermuda a permanent way of life. Yes, relocating to Bermuda would be bliss. This territory has become the home of thousands of expatriates and retirees, so why shouldn’t it become yours? Here’s a brief guide to making Bermuda your new residence. Relocating here will change your life! Working in Bermuda Most foreigners employed in Bermuda work for one of the many international companies established here, or are partners in a Bermudian business. This is the easiest way to be employed on the islands. Another option is for you to set up your own business. Since Bermuda charges no taxes on worldwide business activities, many companies incorporate here. However, non-Bermudians may set up a business only if they have a local partner who owns 60 percent of it. For the most part, no income, capital gains or corporate taxes are charged to citizens or companies, with the exception of a 16 percent payroll tax. If you don’t meet these conditions, finding a job on Bermuda could prove challenging, but not impossible. A few things to consider: • Non-Bermudians must secure a work permit to be employed. All permits are specific to the tenure of the position. • Most permits expire after six years, with no automatic renewals. A new application must be processed then. • A new permit is also required if you switch jobs — which is not recommended and allowed only once. • Seasonal or part-time work does not warrant a work permit, thus these jobs are generally off-limits to non-Bermudians. For more information, visit immigration.gov.bm. Living on the rock It’s possible to live well in Bermuda, but you need to research to find a great rental pad. For more information, call a local real estate agent or visit emoo.bm. To purchase a home, you must be either a citizen or very wealthy. Non-Bermudians can buy limited, expensive property, and only from other foreigners. The average home price for non-Bermudians soars well above $4 million. If you have such funds, you can apply for a Licence to Acquire Property, which costs 25 percent of the purchase price (6.5 percent for a condo). Add a stamp duty of 1 to 3 percent to that total. If you’re planning on house hunting, do yourself a favour and hire a good real estate Agent who can provide you with the most up-to-date listings and information on rules and regulations. From a to B The best way to get around Bermuda is to own a motorised bike or scooter. Forget having a car. It’s not the most efficient or most fun way to get from A to B, and the government has made sure that as few as possible can be brought to this island paradise — the import duties for each car brought in are at a rate of 150 percent! Also, the law allows only one car per household. Or you can hop on a world-class Bermuda Breeze bus. They’re punctual and run as frequently as every 15 minutes. With air conditioning, they are a clean and safe option for transport. Some routes don’t run on Sundays or holidays, so check the schedules. For daily bus travel, it’s best to purchase a booklet of 15 tickets for $7.50. Or you can buy passes that allow travel in all 14 of Bermuda’s bus zones. An unlimited one-day pass is just $12; two-day, $20; three-day, $28; four-day, $35; one-week, $45; and monthly, $55. Cash fares are $3 up to three zones, $4.50 up to 14 zones, and get cheaper by using tokens or tickets. To pay cash you must have exact change, as drivers do not make change or accept bills. Buy tokens at branch post offices or the Central Bus Terminal on Washington Street in Hamilton. All routes, except the 6, begin and end there. To check schedules or make any other inquiries about buses in Bermuda, please call or visit their website. (292-3851, bermudabuses.bm) Sea Express ferries also get you quickly from either end of the island to Hamilton, where the ferry terminal can be found at Front Street, between Queen Street and Par-la-Ville Road. Fares, tokens, tickets and passes are the same rates as for buses. If you get an unlimited pass, it can be used on buses or ferries. (295-4506, seaexpress.bm) the road to citizenShip So many rules apply to non-Bermudians that you may wish to drop the “non” part. This privilege, however, is nearly impossible for foreigners to attain thanks to very strict immigration laws that differ greatly from those of most nations. You could reside on Bermuda for years and never obtain citizenship! Obviously, the clearest path to citizenship is to be lucky enough to be born on the islands of Bermudian parents. If either Mum or Dad were born Bermudians, then theoretically you could qualify for citizenship, although legal roadblocks have been known to exist even in this scenario. For a path through marriage, foreigners must be married to the same Bermudian for at least 10 continuous years to be eligible for citizenship. Also, during that marriage they must reside in Bermuda for at least seven years. In addition, the couple must be living together during the two years immediately before the application for citizenship. If you’ve overcome the hurdle of eligibility, you’ll still have to cross the last step: approval of your peers. The news of your application for citizenship will be published in a local newspaper, and neighbours and peers will be invited to share with the Department of Immigration their written opinions of you to verify that you are “of good character and conduct.” Staying in touch Visitors can buy SIM cards and pre-paid telephone minutes or rent mobile phones to keep in touch with those back home. Many overseas GSM phones work in Bermuda. Check with your service provider. Hamilton is in every sense a modern business venue. Wi-Fi hot spots abound here and at the airport, whilst banks trade global currencies with much greater ease than in the U.S. or U.K. You’ll also be fully connected whilst in the West End’s commercial hub, Royal Naval Dockyard, where TeleBermuda International has implemented a Wi-Fi network. Auction De Mitra The Stables 91 Reid St. Ext., Hamilton Tel: 292-5354 / 705-3738 E-mail:firstname.lastname@example.org Website: auctiondemitra.com Since 2004, Auction De Mitra has developed a well-earned reputation for offering a wide variety of quality furnishings, all at affordable prices. They have a selection of beautiful hand-knotted Persian rugs, unique Bermuda cedar items, antiques, art and artefacts, office furniture, white goods, living, bedroom and dining furniture, and accessories. You will find the selection and service you demand at a price you deserve. It is easy to see why Auction De Mitra has something for everyone — and all at the most reasonable prices. Delivery always available. Bermuda CableVision 19 Laffan St., Hamilton Tel: 292-5544 E-mail: email@example.com Website: cablevision.bm For the best in home entertainment and communications, choose Bermuda CableVision. They offer you better value starting with a $30 basic TV package that includes a FREE SD Box. You will never feel far from home with regional channels from the U.S., Canada, U. K., Caribbean and more. Also, you can enhance your viewing with a variety of channels like Style, TNT, HBO, Fox Sports and even Pay-Per- View! Plus, you can keep in touch with friends and family over one connection by turning on their Internet access and get the best download experience over your iPad, laptop or smartphone in Bermuda. Bermuda Stock Exchange (BSX) Washington Mall, Church Street, Hamilton Tel: 292-7212 E-mail: firstname.lastname@example.org Website: bsx.com Established in 1971, the Bermuda Stock Exchange (BSX) is now the world’s leading fully electronic offshore securities market, with a current market capitalisation (excluding mutual funds) in excess of $200 billion. There are more than 700 securities listed on the BSX, of which over 350 are offshore funds and alternative investment structures. Trading occurs daily, and settlement is on a rolling T+3 basis using BEST, the BSX’s central-limit-orderbook trading mechanism, which is integrated tightly with the exchange’s clearing, settlement and depository platforms. The success of the BSX lies in its innovative approach to new products and markets and its ability to offer a commercially sensible regulatory environment. The exchange specialises in the listing and trading of capital market instruments such as equities, debt issues, funds (including hedge-fund structures), derivative warrant programmes and insurance- linked securities, including catastrophe bonds. The BSX, recognised by the U. S. Securities and Exchange Commission as a designated offshore securities market, is a full member of the World Federation of Exchanges and is located in an OECD member nation. In recent developments, the BSX was granted Approved Stock Exchange Status under Australia’s Foreign Investment Fund taxation rules; Designated Investment Exchange status by the U.K.’s Financial Services Authority; and, in December 2007, was granted Recognised Stock Exchange status by the U. K.’s HM Revenue and Customs. In February 2008, the BSX was admitted to membership in the Americas’ Central Securities Depositories Association. Department of E-Commerce – Ministry of Business Development and Tourism Tel: 294-2774 E-mail: email@example.com Website: gov.bm Digital progress and economic progress go hand in hand. The Department of E-Commerce’s mandate focuses on promoting the key role that technology plays as a powerful driver in helping to achieve many of the economic, social and environmental objectives of the country. Leveraging the benefits of technology and remaining current in the areas of technology-related policies and legislation will help to move Bermuda’s society forward and provide benefits and opportunities for all stakeholders. Elbow Beach Cycles Ltd. At Elbow Beach Bermuda Resort & Spa 60 South Shore Road, Paget Tel: 296-2300 E-mail:firstname.lastname@example.org Website: elbowbeachcycles.com Why follow the crowd when you can discover Bermuda’s hidden coves and dazzling pink-sand beaches for yourself? And in high style. Pick from the island’s newest and most advanced rental fleet, and then put yourself in the laidback island mood with their industry leading YouDrive™ tuition. For the widest choice of gas scooters, electric scooters, hybrid electric bikes, and mountain bikes, and the most Reassuring safety record on the island, book online or call today at Elbow Beach Cycles. Electronic Services Limited 26 Harvey Road, Paget Tel: 236-3885 E-mail:email@example.com Website: electronicservices.bm Electronic Services Ltd. Is an audiovisual company with more than 30 years of experience. The firm provides technical support and equipment to major hotels, small properties and corporate offices in Bermuda. Electronic Services Ltd. Has worked with many large overseas production companies and meeting planners to provide custom services for clients with conventions and video conferences in Bermuda. Oleander Cycles Oleander Sales and Service Tel: 236-2453 (Main Office) E-mail: firstname.lastname@example.org Website: oleandercycles.bm Oleander Cycles has built its reputation on quality and service.They have been providing the island with sales and service since 1964. They are proud to represent Kawasaki, PGO and TGB motorcycles and scooters. They have four retail locations across the island and are open seven days a week. Their service centre, located in the centre of the island in Paget, is open every day to service your cycle or provide spare parts or accessories when needed. They pride themselves on being the only automotive company open seven days a week. Stop by their showrooms today and take a test ride on one of their cycles. TeleBermuda International Limited Victoria Place, 1st Floor 31 Victoria St., Hamilton Tel: 296-9000 E-mail:email@example.com Website: telebermuda.com In today’s demanding business environment, continuity of business and disaster resource planning are critical to minimising operational risk. At Tbi, a recently SSAE16-certified Tier 3 Data Centre provides the secure, environmentally controlled facilities for customers to operate and maintain primary or backup network servers, partnered with a fully managed remote backup and storage platform designed to meet today’s IT challenges, says Gregory Swan, President and COO. “We have created what we believe is a full-service commercial offering for local and international businesses that are domiciled in, or considering relocating to, Bermuda and the Cayman Islands.” Wheels Cycles Moped and Scooter Sales 13 Dundonald St. West, Hamilton Tel: 295-0112 E-mail: firstname.lastname@example.org Website: wheels.bm Servicing Bermuda since 1970, Wheels Cycles sales and service department offers brand-name accessories, spare parts, pedal cycles and Peugeot scooters at competitive prices. With the widest selection islandwide, all pedal cycles are fully assembled with the option of layaway for up to 3 months. Peugeot scooters range from 50cc to 125cc with numerous colours and styles available. Test rides are accessible to all who possess a Bermuda driver’s licence for the perspective class cycle. Possessing an excellent spare parts department with knowledgeable staff, they are confident that they can meet all your requirements. Committed to meeting every customer’s requests, they realise that their customers are the only reason that they are in business. Wheels Cycles’ goal is to supply Bermuda with the best products and services at the fairest possible prices.
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