“I am proud to advise that the Economic Investment and Residential Certificate (EIRC) Policy continues to benefit Bermuda’s Economy by helping to support continued economic activity,” said the Minister of Economy and Labour, Jason Hayward, regarding the latest updates on the policy’s success to date. “The objective of the EIRC is to fully harness Immigration as one of many tools for creating economic growth for Bermuda. So said, so done, as thus far, the EIRC program has brought about significant economic activity and helped market Bermuda as a place to reside and do business.”
The Ministry can advise that as of 20 June, the EIRC policy has resulted in total associated investments of $425.5 million, which include $164.8 million in real estate investment.
|
Investment Type |
Investment Amount |
Number of EIRC Residential Certificate Holders |
Number of Approved EIRC Applications |
|
Existing Business |
$49,114,923.94 |
3 |
2 |
|
New Business |
$211,611,537.48 |
8 |
4 |
|
Real Estate |
$164,826,909.19 |
78 |
31 |
|
Total |
$425,553,370.61 |
89 |
37 |
The Minister explained, “While EIRC recipients are only required to invest a minimum of $2.5 million into the Bermudian economy, we find they generally invest much more. Bermuda continues to appeal to affluent individuals worldwide. Affluent individuals often seek safety, stability, and sophisticated, connected areas with a temperate climate and a well-regulated business environment. Most importantly, the continued investment speaks to global confidence in our island home and this Government's ability to lead.”
For complete information on the Economic Investment and Residential Certificate Policy, visit https://www.bda.bm/post/bermuda-economic-investment-residential-certificate-faqs/.