Purpose and Specifications
A Family Office Work Permit allows a Family company that is new to Bermuda to receive automatic approval of five (5) work permits within the first six (6) months of obtaining the first Family Office Work Permit. For this purpose, a “Family Office” means a company, limited liability company, partnership or other legal entity incorporated, registered or established on behalf of, or for the benefit of, a single family (the family clients) for the purpose of managing the affairs of that family. Employers cannot apply for Family Office Work Permits for jobs which are deemed to be closed or restricted positions (see section 3.12), such as a front office receptionist, or which are entry level, graduate or trainee positions. A Family Office Work Permit may be issued for one (1), two (2), three (3), four (4) or five (5) years..
Once the initial term of the Family Office Work Permit expires, and if an employer wishes for the employee to remain in Bermuda, the position must first be advertised and if no suitably qualified Bermudians, Spouses of Bermudians or PRC holders are available, may apply for a Standard Work Permit of one (1), two (2), three (3), four (4) or five (5) years..
Eligibility
To qualify for a Family Office Work Permit, employers must provide evidence of the incorporation, registration or establishment of the new Family Office legal entity. Where the first day of operation is not the same as the date of incorporation, employers must state the date the company expects to commence operating in Bermuda.
Application Process
To apply for a Family Office Work Permit employers must complete the Family Office Work Permit Application Form. The Minister may apply the provisions of this section to multi-family offices.