From The Royal Gazette

Economy, Trade and Industry Minister Patrice Minors said Government is focused on retaining and attracting senior executives to Bermuda as it goes through the process of modernising work permit rules.

She was speaking after the Cayman Islands last week unveiled its terms for 10-year work permits, which will be available to employees holding a broad range of senior positions.

Ms Minors said: “Our Ministry continues to work in consultation with stakeholders to modernise Bermuda’s work permit polices as we indicated a couple of weeks ago. It is anticipated that the revised policies will be implemented in the coming months.

“The aim is to remove any perceived barriers to business development to ensure ongoing job creation and to make Bermuda an even more attractive business jurisdiction. The 10-year work permit implemented roughly a year ago together with the Job Incentives Act 2011 has been favourably received by our international business sector, and in fact has already helped to boost the Island’s attractiveness.

“The Government’s overall goal is to foster the right environment for international business to grow, and stimulating economic growth and greater foreign direct investment is instrumental to increasing job opportunities for Bermudians.

“Ultimately with all of these multiple elements being introduced, we are demonstrating that we are clearly focused on making it more attractive for executives to remain in Bermuda or relocate to Bermuda.”

For more on this story go to:

http://www.royalgazette.com/article/20121029/BUSINESS02/710299979

See iNews Cayman story “10 Year Work Permit categories”