Purpose and Specifications
A New Business Work Permit allows an exempted company (per the definition in the Companies Act 1981 (“the Companies Act”)) that is new to Bermuda to receive automatic approval of work permits within the first nine (9) months of obtaining the first new business permit. The first New Business Work Permit must be applied for within the first 12 months of the business registration or incorporation. There is no need to advertise the positions (which is normally the requirement of the Standard Work Permit). New 114B companies to Bermuda (per the definition in the Companies Act) will automatically be granted New Business Work Permits – however these will be limited to five (5) New Business Work Permits within the first nine (9) months of obtaining the first New Business Work Permit. New Business Work Permit holders may be employed in any job category provided that their position is not an entry level position, a graduate position or a trainee position or specified in a closed or restricted category (see sections below). However, if the New Business Work Permit holder falls within a job category where a statutory council must be consulted that must still be done (see section 3.12).
Although the number of permits that can be issued under this Policy is not capped, new businesses that anticipate requiring more than five (5) work permits within the first nine (9) months of operation (e.g. due to relocating an existing business from another jurisdiction) will be required to present additional information to the Minister. Such information includes their Bermuda office staffing plan, including their projections for hiring and developing Bermudians, as well as plans for engaging local service providers to support their organization. When considering 114B New Business Work Permits the Minister shall consider such plans as aforementioned.
New Business Work Permits will be issued for one (1), two (2), three (3), four (4) or five
(5) years. At the end of the New Business Work Permit term, if the employer wishes the incumbent to remain in Bermuda, they must apply for a Standard Work Permit.
Eligibility
To qualify for a New Business Work Permit, employers must provide a certificate of incorporation of a Bermuda exempted company or section 114B certificate and, in cases where the first day of operation is not the same as the date of incorporation, state the date that the company has or will commence operating in Bermuda.
Application Process
To apply for a New Business Work Permit employers must complete the New Business Work Permit Application Form. It is for the Minister to determine what constitutes a new business.