Bermuda reaps US$23M from digital nomads – CARICOM Business

In its first 12 months, the work from home in Bermuda (WFB) certificate has had an estimated value-added of $23.3 million to the economy.

According to Labour Minister, Jason Hayward, 638 people took up the scheme and 206 families still lived on the island as a result. The initiative was launched on August 1, 2020 and allowed people from overseas to apply for a one-year residential certificate to work from home in Bermuda.

To date 1,081 applications have been received with 937 being approved. At least 1 recipient has invested over US$2.5M in Bermuda thereby being converted into an economic investment certificate holder.

Extract from CARICOM BUSINESS Vol 4 No. 44

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