Bermuda offering year-long 'residencies' to foreigners - WVLT

(WVLT/CBS) -- Looking to make a great escape? Bermuda announced that it’s offering year-long residences to foreigners in an effort to drive tourism during the pandemic.

CBS News reported that, while the pandemic has cut the travel and tourism industry across the world, it’s especially impacting island nations whose economies depend on annual visitors. Bermuda is trying to circumvent the problem by offering one-year residential certificates to non-Bermudians who want to make the island their home while they work or study.

"The COVID-19 health crisis had a significant impact on the local economy resulting in mass unemployment and decreased economic activity," Bermuda Minister of Labor Jason Hayward said in a statement last week.

The residency certificates cost $263, and the island hopes it will boost economic activity by drawing more people in and getting their money at restaurants, hotels and other businesses.

"These visitors can reside in Bermuda without seeking employment on the island and will promote economic activity for our country without displacing Bermudians in the workforce," Hayward said.

According to CBS, applicants must be older than 18 and show they are either employed or enrolled in a research, undergraduate, graduate or doctorate program. You can submit an application on the government’s website on or before August 1.

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