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Part-Owner of a Local Bermuda Business

BermudaStarting a business

Explore the five recorded questions, answers and sources for this pathway.

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Get your free results Read the five questions ↓

Is this for a founder, startup entrepreneur, self-employed person, freelancer, company owner or another business profile?

Part ownership of a local Bermuda business confers no right to work: the part owner must apply for permission in the normal way using the Standard permit application form.

See recorded sources
  • chars 118336-118563
    Part ownership in a local business does not confer any right to work. For part owners to obtain permission, the applicant must apply for permission in the normal way using the Standard permit application form.

What must actually exist or be demonstrated: business plan, company, innovation, clients, contracts, economic activity, job creation or other substance?

Permission is likely to be granted on the strength of the application, considering the character of the applicant and where relevant of their spouse, the existing and likely economic situation in Bermuda, the availability of the services of local companies and persons already residing in Bermuda, the protection of local interests, and the requirements of the community.

See recorded sources
  • chars 118564-119068
    Permission is likely to be granted based on the strength of the application and considering: ▶ the character of the applicant and where relevant, of his or her spouse, ▶ the existing and likely economic situation in Bermuda, ▶ the availability of the services of local companies and persons already residing in Bermuda, ▶ the protection of local interests, and ▶ the requirements of the community.

What investment, capital, income, revenue, funding or viability evidence is central to this pathway?

The policy sets no investment amount, minimum salary or fee figure for a part owner. Where the industry is new, part owners are more likely to be encouraged, especially where the enterprise creates a new source of quality employment for Bermudians, Spouses of Bermudians, Belongers, Spouses of Belongers and PRC holders and there is a clear and demonstrable benefit to Bermuda and the local workforce; if there is no obvious benefit to Bermuda the part owner is unlikely to obtain permission to work.

See recorded sources
Limits of the record
  • The fee amount is not stated in this policy; section 1.5 says all fees in relation to the policy are available on the Immigration website.
  • No capital or investment threshold is stated for a part owner.
  • chars 119078-119718
    Where the industry is new, part owners are more likely to be encouraged, especially where the enterprise creates a new source of quality employment for Bermudians, Spouses of Bermudians, Belongers, Spouses of Belongers and PRC holders and there is a clear and demonstrable benefit to Bermuda and the local workforce. If there is no obvious benefit to Bermuda, the part owner is unlikely to obtain permission to work, particularly in cases where there are Bermudians , Belongers and Spouses of Belongers whose involvement or employment with the business is not bona fide and significant.

What business/self-employed activity may the holder conduct? Are there important restrictions? What is the family position where clearly stated?

Part ownership itself gives no right to work and self-employment is not permitted; the part-owner rules do not apply to exempted companies, which may be owned and managed by foreign nationals. The official source does not state the family position.

See recorded sources
  • chars 119728-119872
    This Policy does not apply to exempted companies which may be owned and managed by foreign nationals. Self-employment is not permitted.

What approval/application sequence applies, how long is the status granted, how is it renewed, and what longer-term residence direction is officially stated?

The part owner must apply for permission in the normal way using the Standard permit application form. Renewals of permits for part owners are not automatic: such persons must ensure that they have provided qualified employment to Bermudians. The official source does not state the permit term or a longer-term residence direction.

See recorded sources
Limits of the record
  • Section 7.11 states no permit term; the application is made on the Standard permit application form and Standard Work Permits are applied for in terms of one to five years (section 3.3).
  • The policy describes no onward route from a part owner's permit to residence or status.
  • chars 119882-120033
    Renewals of permits for part owners are not automatic and such persons must ensure that they have provided qualified employment to Bermudians.
  • chars 118336-118563
    Part ownership in a local business does not confer any right to work. For part owners to obtain permission, the applicant must apply for permission in the normal way using the Standard permit application form.

These are the answers currently recorded in the catalogue. A missing or partial answer is not an eligibility decision.

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