Bermuda's Economic Investment Residential Certificate

The EIRC is issued by the Minister responsible for immigration under section 32(5) of the Bermuda Immigration and Protection Act 1956 (BIPA). It began in 2021 as a two-stage Economic Investment Certificate followed, five years later, by a Residential Certificate; from 31 March 2023 the Residential Certificate can be granted immediately. The June 2024 revision, effective 7 June 2024, removed Bermuda Government bonds from the list of qualifying investments and kept the BD$2.5 million minimum unchanged. The Bermuda Business Development Agency (BDA) runs a concierge service that receives expressions of interest and guides investors through the process. In April 2026 the BDA reported that the programme had attracted more than US$600 million of associated investment from nearly 100 international investors and their families since launch.

Once granted, the certificate entitles the holder to reside in Bermuda indefinitely and to seek employment there, with automatic work permit approval for any business in which the holder has invested. For the first five years the holder must live in Bermuda for at least 90 days in each calendar year and keep qualifying investments of at least BD$2.5 million, verified by the end of year five. Material changes must be notified to the Department of Immigration. The Minister may revoke a certificate obtained by misrepresentation, after a serious criminal conviction, or where the holder lives outside Bermuda for two continuous years without prior leave. The certificate does not expire, so there is no renewal cycle, and the one-time application fee is listed by the Government at US$2,755.

Bermuda levies no personal income tax, capital gains tax, wealth tax or inheritance tax, which makes it attractive for internationally mobile families. Payroll tax applies to employment and self-employment income in Bermuda, and there are customs duties on imports, an annual land tax on property and stamp duties, including on a deceased person's Bermuda estate. Since 1 January 2025 a 15% corporate income tax applies to Bermuda entities in multinational groups with annual revenue of EUR 750 million or more; it does not tax individuals. Living in Bermuda does not by itself end tax obligations elsewhere, and United States citizens remain taxable on worldwide income, so the departure from the former tax residence needs careful planning.

The certificate covers the spouse or legal equivalent and children aged 18 or younger, or between 18 and 25 while in full-time tertiary education. Dependants must meet the same character, criminal record and health standards and need a work permit to take employment. If the holder dies or the marriage ends, family members may remain at the Minister's discretion and the spouse may apply for a certificate in their own right. The EIRC does not confer Bermudian status or a Permanent Resident's Certificate, both of which are tightly restricted under BIPA. After a qualifying period of residence a holder may seek naturalisation as a British Overseas Territories citizen, but this is discretionary and does not of itself give Bermudian status.