The Bermuda government is proposing new guidelines for permanent residency certificates (PRC) in the British Overseas Territory, the Barbados-based Caribbean Media Corporation (CMC) reported Saturday.
The Hon. Jason Hayward, Bermuda’s Economy and Labour minister, said a government paper on the issue has already been published online and members of the public will be able to provide feedback until April 15.
“Many high-income countries around the world are facing the same problem. But in a small country like Bermuda, it can have a severe impact on our economic performance and the cost of living for ordinary working people,” Hayward told Parliament.
He said action needed to be taken to address the demographic challenges of a falling birth rate and aging populations.
Under the proposals, those who have been ordinary residents for more than 10 years and have an annual income of U.S. $83,000 would be eligible, halving the minimum time period.
Non-Bermudian parents of Bermudian children would also be able to apply for PRC status after 10 years of ordinary residency, down from 15 years, and PRC eligibility requirements for job creators would be reduced from ten years to five.
PRC eligibility requirements would also be reduced to five years for those working in certain professions, including registered nurses, chartered financial analysts, certified actuaries, computer engineers, software developers and certified accountants.
Hayward said while Bermuda needed to consider both Bermudians and guest workers, the proposals included in the position paper do not include a pathway to Bermudian status.
“We want Bermudian workers to have a real chance to thrive,” Hayward said. “And for guest workers, we want to give stability and certainty, in addition to fairness and a chance to feel at home in the place where many are raising families and contributing to our community economically and socially.”
