Minimum qualifying investment of $2.5 million BMD in the Bermuda economy, maintained for at least 5 years. Investment may be spread across real estate, equity in existing businesses, new ventures, or charitable donations. Most investors significantly exceed the minimum (the programme average is around $7.5 million per applicant).
⏱️ Duration
Indefinite residency from date of issuance. No expiry. Qualifying investment must be maintained at the $2.5 million minimum for at least 5 years. Certificate may be revoked if holder resides continuously outside Bermuda for 2+ years without ministerial leave.
👪 Dependants
Yes
Spouse or partner and dependent children aged 18 or younger (or up to 25 if enrolled full-time in higher education) are included. Dependants receive resident status from the date of issuance but do not receive automatic work rights and must apply separately for work permits.
🛂 Citizenship Path
Yes — after 5 years
The EIRC grants indefinite residential status from the date of issuance. After 5 years of legal residence (with total absences of no more than 450 days and continuous residence for the 12 months prior to application), holders may be eligible to apply for British Overseas Territories Citizenship (BOTC).
The Economic Investment Residential Certificate (EIRC) is Bermuda's residence-by-investment programme, granting immediate and indefinite residency rights to individuals who invest a minimum of $2.5 million BMD in the Bermuda economy. Administered by the Ministry of Economy and Labour and the Department of Immigration under section 32(5) of the Bermuda Immigration and Protection Act 1956, the programme was revised in March 2023 to replace the earlier Economic Investment Certificate (EIC), eliminating the previous five-year waiting period and granting residency from the date of issuance. By its five-year anniversary in 2026, the programme had surpassed $600 million in investment from nearly 100 international investors and their families, with real estate the most popular category and an average actual investment of around $7.5 million per applicant.
Investment Options
The $2.5 million qualifying investment may be spread across one or more eligible categories:
Real estate — purchase of property in Bermuda (non-Bermudians must obtain a government land license)
Equity in existing businesses — genuine business investment (excluding pure limited securities holdings in exempted undertakings)
New business ventures — incorporation of a new company in Bermuda
Charitable donations — to registered Bermudian charities
Government bonds were removed from the qualifying list in June 2024. The investment must be maintained at the $2.5 million minimum for at least 5 years, with verification required at the end of the fifth year.
Requirements
Non-Bermudian national aged 18 or older
Good character; no criminal convictions for indictable or dishonesty offences
Qualifying investment of at least $2.5 million BMD (or equivalent in another currency)
Minimum 90 days of physical residence in Bermuda per calendar year during the first 5 years
Compliance with Bermuda Department of Health requirements
Required Documents
Cover letter and personal data sheet
Due diligence and security vetting documentation (prepared by a law firm, financial adviser, or third party)
Two professional and two personal references
Valid passport copy
Birth certificate
Marriage certificate (if applicable)
Proof of qualifying investment (category-specific — e.g., purchase agreements, shareholding certificates, incorporation documents)
Evidence of good character
Duration & Renewal
The EIRC does not expire and does not require renewal. It grants indefinite residency from the date of issuance. However, the certificate may be revoked if:
The holder is convicted of a criminal offence
The certificate was obtained by fraud
The holder continuously resides outside Bermuda for 2 or more years without prior ministerial leave
Failure to comply with notification requirements (fines of up to $25,000 may also apply)
After 5 years of legal residence (with total absences of no more than 450 days and continuous residence for the 12 months prior to application), holders may be eligible to apply for British Overseas Territories Citizenship (BOTC).
Family Members
The EIRC covers the applicant's spouse or partner and dependent children aged 18 or younger (or up to 25 if enrolled full-time in a higher education institution). Dependants receive resident status from the date of issuance. They do not receive automatic work rights and must apply separately for work permits under standard Bermuda Immigration and Protection Act work permit policy. If the EIRC holder and their spouse or partner separate, the surviving or former spouse may reapply independently within 3 months.
Tax Implications
Bermuda has no personal income tax, no capital gains tax, and no inheritance tax, making it one of the most tax-efficient jurisdictions in the world. Residents are subject to:
Payroll tax — on remuneration for services provided in Bermuda (applies if operating a local business or drawing a salary)
Land tax — payable on owned or rented property twice yearly based on annual rental value
Customs duties — approximately 25% on most imported goods
Application Process
Submit an expression of interest through the Bermuda Business Development Agency (BDA) website at bda.bm. A dedicated concierge team member is assigned to guide the applicant.
Complete due diligence, background vetting, and make the qualifying investment.
Once the investment is in place and all documents are prepared, submit the formal EIRC application to the Department of Immigration.
The Minister provides a decision within 5 days. Approved applicants receive acknowledgement by email.
The application fee is $2,755 BMD (covering the applicant and spouse). The process is confidential. The EIRC holder receives automatic work permit approval for their invested business and any other sector.
Note: New business investments are subject to Bermuda's 60/40 rule requiring 60% Bermudian ownership or control, though the Minister may grant discretionary exceptions.