Setting up a business in Bermuda
 

Hi All :D

I would like to know if anyone has any information on expats setting up their own business in Bermuda.

My partner and I are planning to moving out to Bermuda in the new year; I work in accounting so work is slightly easier for me to find however my partner currently runs a bar in London. Ideally he would like to set up his own business and I would continue with my career.

I don't know how easy this would be and if we would only be able to be partners in a business with a Bermudian rather than a start up business of our own?

I am aware there are hospitality opportunities for expats if this is not an option, however they seem to be few and far between?

As we are not married trying to get jobs at the same time so that we can get work permits together is proving very difficult however I had read that you can get a permit if you are an entrepreneur which would suit my partner far better than working in one of the hotels?

Thanks

Rachel.

Re: Setting up a business in Bermuda
 

Hi Rachel
All local business in Bermuda must be 60% owned by a Bermudian and any non Bermudians must have a work permit even if they are an owner of a company. I have never heard of a entrepreneur permit and do not think the government would allow it.
This comes from the Bermuda immigration web site:
Self - Employment
Non-Bermudians will not normally be permitted to be self-employed. As self-employment is difficult to define precisely, there are numerous possibilities for businesses to run afoul of the spirit of the policy. In general terms, the Department of Immigration sees self-employment as the running of a business and the ability to make final decisions on its operation. The self-employed person is likely to be the principal beneficiary of the business. The Department of Immigration is, however, trying to avoid allowing non-Bermudians to set up and run businesses with Bermudian partners where the Bermudian's involvement with the business is negligible and in name only and where there is no obvious, direct benefit to Bermuda or Bermudians, e.g. jobs, physical presence.
Some examples of self-employment might be:
• a non-Bermudian who is the general manager of a business in which the Bermudian owner does not participate;
• a non-Bermudian manager who is a shareholder in the business and upon whose expertise the business depends.
Where there are local service providers, a work permit will not be granted to an employer who is not already providing that service, e.g. a hotel applying for work permits for masons; a lawyer applying for work permits for gardeners to be hired out.
Policies governing self-employment apply only to local businesses. Exempt companies may be owned and managed by non-Bermudians.
Here is the link
http://www.wastemanagement.gov.bm/po....html#DA_85143

http://www.wastemanagement.gov.bm/po...2&cached=true#

Hope this helps

Nigel

Re: Setting up a business in Bermuda
 

Hi Nigel,

Thanks so much for coming back to me.

I did think it was a little too good to be true when I read about the permits!

Do you currently live in Bermuda?

If so would you know how easy / hard it is to get a bar management role out there? I am not sure if most of these are taken by locals or are they available for expats too?

Thanks again

Rachel :)