The Incentives for Job Makers Act 2013
Operative 17 December 2013, the Incentives for Job Makers Act 2013 makes it simpler and more affordable for senior non-Bermudian executive employees (executives) to be granted a permanent resident certificate (PRC) under Bermuda law.
In particular, it makes substantive modifications to the threshold Bermuda-based companies must meet in order to be eligible for designation as companies that can apply for PRCs for their executives. These reforms form part of the wider policy of the Bermuda government aimed at making Bermuda a more attractive and competitive jurisdiction for the establishment and maintenance of business critical to the Bermuda economy.
This brief provides a condensed summary of the key changes brought about by the Job Makers Act 2013…
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