Property

Home Help

Moving house combined with moving to another country can be stressful. Here’s a few tips to ease the pain

Renting a home when you first come to live in Bermuda is not only wise, it is also the only option for most new residents. Many houses here have separate rental units, which can range from studio apartments to garden cottages. Condominiums come in all shapes and sizes, and there is always a wide range of executive homes available at any given time.

The best way to start looking for a rental property—and you should see quite a few before making your final choice—is with the help of a local real estate agent. It is also well worth searching online. Alternatively you or your future employer could hire a relocation service. This is almost a necessity if you’re trying to secure housing before arriving on the island.

Some employers may pay for you to stay at a hotel or guesthouse for a few weeks, to give you time to look for accommodation.

Your housing needs will be dictated by your family requirements as well as your interests and work schedule. If, for example, you have the kind of job which requires shift work or the need to be called in at odd hours, you will want to live relatively near to your place of employment.

If you have children, schools will be a consideration in your choice of location. Places at government primary and middle schools are allocated on the basis of zoning, which you may want to bear in mind when selecting your new home.

Rental units in the central parishes of Devonshire, Paget, Warwick, Pembroke and Smith’s tend to be pricier. However, as you will quickly learn, nowhere in Bermuda is very far from anywhere else and Hamilton can be reached by road from either end of the island in not much more than 30 minutes. There’s also a good ferry service for commuters from the west end. There is lower demand in east and west ends of the island, which means you will find lower rents, or get more square foot for the dollar.

The best time of year to look for housing is in the late summer, as students prepare to leave Bermuda for college and seasonal tourist workers leave the island.

Monthly rental for a studio apartment starts at no less than $1,000. One-bedroom apartments are priced from just under $2,000 to $3,000, with those in the City of Hamilton commanding the highest rent. For a two-bedroom apartment or condominium you’re looking at $3,000 to $4,000 a month. Twobedroom units are the most broadly in demand and are therefore the hardest to find. Waterviews, rural settings, proximity to golf courses and other desirable features such as a swimming pool and tennis court, can push the price to the top of the range, with some well-appointed units going for more than $7,000.

For an executive three or four bedroom family home with nanny quarters, a pool and ocean views, the sky is the limit. Properties in this range usually start at $10,000 and it would not be unusual to see a luxury property at the very top end of the market being advertised for $20,000 a month.

The most sought-after properties are stand-alone cottages either on the water or with water views. They are also the most expensive per square foot. If you have your heart set on something like this, consider renting a lesser property to give you time to search for your ‘dream home’, and until something becomes available.

When it comes to the ‘added extras’ for your rental home, be careful to check the lease carefully. The maintenance of the garden or pool is not always included in the rent, so be sure to ask. Similarly, establish whether you or the landlord will be responsible for the payment of annual property taxes. As a general rule, if the lease is for less than three years, the landlord pays. If you are renting a condominium, establish whether you will be responsible for the condo association maintenance fees. Generally speaking, the landlord takes care of the exterior of the property and the tenant the interior.

Renting furnished accommodation is often the simplest solution. But if you do choose to bring your

furniture with you, remember that you will pay import duty to land it in Bermuda. Most unfurnished properties include major appliances. There is also a vibrant secondhand market for furniture and household furnishings, in which you may choose to participate as a buyer at the start of your stay in Bermuda or as a seller at the end.

The majority of properties are leased on a monthly basis with rent payable one month in advance, and with usually a month deposit at the start of the lease against breakages. Such a deposit is not always repayable. You may also be responsible for repainting the walls and ceiling of your rental property before you vacate. Be sure to ask.

Finally, two important points. You need a work permit before a formal lease can be signed. And only one car per household is allowed in Bermuda. So if you plan to buy a car, make sure your rental unit has what is known as an ‘assessment number’ for that property. Azura - Breakers Garden

LIVE AND WORK IN BERMUDA

This property is ideal for work permit holders and non-Bermudians who would like the flexibility of owning a luxurious home and creating additional revenue options through the hotel services offered at Azura.

The Property Group Ltd specializes in finding the perfect home for our clients. We bring passion and dedication to every aspect of our business.

Contact Sallyann Stratton (441) 535-4521 (441) 234-6900 Email: sallyann@tpg.bm www.property-group.com

HAMMA GALLERIES

Bermuda’s oldest and most comprehensive design house

INTERIOR DESIGN FURNITURE FABRICS LAMPS PILLOWS CLOSET, KITCHEN & BATH SUPPLY AND DESIGN

www.hammagalleries.com | One Lane Hill, Hamilton | 292-8500

Looking to rent or buy? Call +1 (441) 535-2769 today!

Cesa Edwards Real Estate Broker

Bermuda Longtail Real Estate Ltd

SALES & RENTALS

Email: cesa@bermudalongtail.bm www.bermudalongtailrealestate.com Your Piece Of The Rock

Hundreds of people from all over the world have bought homes in Bermuda — some because they chose to retire here, some due to work commitments on the Island, still more for vacation purposes and others for any combination of the above.

Over the decades, property has grown steadily in value while remaining secure due to Bermuda’s history of political and social stability.

There are opportunities for people from abroad to buy grand local houses from about $4 million up to $25 million. There are also some condominiums available to overseas buyers, and these range from roughly $1 million to upwards of $3 million.

Buying here involves a bit of red tape but nothing too onerous. And there is a one-off Government fee for foreign acquisition of a local property of 8% for houses and 6% for condos. The purpose is an honourable one — to negate the risk of international speculation in the local property market. These figures are likely to rise in the near future, so now is the time to buy.

If a year-round home is more than you need, there are several first-class fractional ownership properties to contemplate.

Whichever option you eventually choose, the current buyer’s market will make the apparently hefty initial investment seem positively shrewd in a few years time.

However, it is the lifestyle rather than the investment opportunity that motivates most buyers of luxury Bermuda homes. And that — the Bermudian way of life — is truly priceless.

Remote Work From Bermuda

As the COVID-19 pandemic continues to impact the way you work and enjoy life on a day-to-day basis, especially if you live in a densely populated town or city, consider improving your quality of life, and view, by applying for a Work From Bermuda Certificate.

Who is Eligible?

The certificate is designed for professionals, investors, entrepreneurs, digital nomads and post-secondary students who are working or learning remotely.

You must be over the age of 18 with no criminal record and possess valid health insurance. In the case of a remote worker you must be able to prove employment with a legitimate firm or your own company registered and operating outside of Bermuda; in the case of a student you must provide evidence of enrolment in a research, undergraduate, graduate or doctorate programme.

How to Apply

It couldn’t be easier. Fill out the form online at forms.gov.bm/ work-from-bermuda/apply. You will need proof of employment or school enrolment and a colour scan of your passport photo page including, where relevant, your visa information. If you have all the documentation ready, it should only take 15 minutes.

Pay the $263 application fee.

Wait no more than five business days for an answer. Once issued, the certificate is valid for one year, and if you don’t want to leave, you can renew it.

What is the COVID-19 Risk in Bermuda?

At the time of writing, Bermuda is classified as “very low risk” for COVID-19 by the United States Centres for Disease Control and Prevention (CDC), and has implemented a COVID-19 testing regime considered among the most stringent in the world. You can therefore enjoy many activities not necessarily possible elsewhere, however there are certain restrictions and rules in place designed to prevent the spread of the virus and keep all island residents safe.

As of December 2020, you must have a pre-departure COVID-19 test before leaving for Bermuda, and then a further test on arrival followed by tests on days four, eight and 14 after your arrival.

Residents and visitors must practice physical distancing and mask-wearing in all public areas where there is close contact with others, and gatherings of more than 75 people are forbidden without receiving permission from the Ministry of National Security.

Restaurants, bars, hotels, schools, offices, shops, golf courses, tennis clubs, water sports centres and other attractions are all open, as are the island’s beautiful beaches and parks.

For up to date information visit www.gov.bm.

Bring the whole family

Bermuda’s climate and COVID-19 status makes it an ideal place to base the whole family. If your children aren’t enjoying remote learning, they can attend any of the many private or public schools on the island and can enjoy numerous sports programmes, outdoor activities and other extracurricular activities with their new friends.

A separate application is needed for each family member and adult dependent family members cannot seek paid work, but they are allowed to volunteer their time to support the island’s many not-for-profit organisations and registered charities.

Accommodation

Whether you prefer a sophisticated hotel in the heart of the City of Hamilton or a traditional, whiteroofed home somewhere more peaceful, many of Bermuda’s hotels and vacation rental homes are offering long-stay incentives. If you want your own home for a year, contact any one of Bermuda’s real estate agents and they will help you find whatever you need.

Office Space

If you don’t want to work from your Bermuda home or just miss the camaraderie of being in an office, there are a number of serviced and flexible office space options available in Bermuda such as Suite Solutions, Connectech, Nineteen and The Waterfront Properties.

Getting Around

If you hold a Work From Bermuda certificate, you are a resident not a visitor. This allows you to buy a car. Unfortunately, international drivers licences are not valid in Bermuda, but a local theory test and practical exam will rectify that.

If you don’t want to take the driving test or buy your own car, you can rent mini-cars or scooters. There is also a public bus and ferry service.

Help With Your Move

Even though the certificate application process is easy, relocation to a country might seem a daunting prospect, especially if you are bringing your family. Bermuda’s Business Development Agency (BDA) – www.bda.bm – can help, as can the Bermuda Tourism Authority (BTA) – www.gotobermuda.com.

For that extra special personal touch contact Corporate Concierge www.corporateconcierge.bm. Soft Landing, www.softlanding.bm. Or Global Consultants, email: Global Consultantsbermuda@gmail.com

Digital Nomads

Jeremy Deacon talks to two businesspeople about their experience of the Work from Bermuda Certificate programme

BETTER FOR BUSINESS

As a frequent business visitor to Bermuda, Ashley M. Hunter would think to herself, ‘Ok, it’s a cute place to come and visit, but why in the world would I want to live on this island?’

Well, as a so-called ‘digital nomad’ who successfully applied for a Work from Bermuda Certificate, Ms. Young is now not only here for a year, she is planning to incorporate her successful insurance company on the Island and is looking to apply for a work permit.

An accomplished concert violinist, Ms. Hunter is the Managing Director of HM Risk Group, an international insurance, reinsurance and risk management firm and prior to founding the firm, she worked in claims and underwriting management positions for various companies.

“Being in Bermuda hasn't affected my work. I did the majority of my business in Europe anyway and quite honestly, it makes my business much more profitable being here. I was in Austin, Texas, which is not considered a global insurance hub.

She was in the US when a friend sent her a link to a webinar about the Work from Bermuda Certificate, which allows people who can sustain themselves financially to escape Covid-19 by living and working on the Island for a year.

“They made a compelling case. They're like, ‘come here, do business here’. I thought, I'll apply, but I don't think I'll get it because I own my business. I'm sure nothing will come of this. Then three days later I was approved, and I thought, okay, well I guess I'll go to Bermuda and check it out.

“And then I get here and it's so easy, the process was way too easy, and it was uncomplicated, it was almost like it was meant to be. Getting a bank account took three days. My ultimate goal is to get a work permit and to hire local talent, because there's a ton of local talent here.”

Ms. Hunter praised the help she received from the Bermuda Business Development Agency (BDA) and said she was in the process of setting up a foreign entity of her company in Bermuda.

“They set me up with the solicitor and the process is super straightforward and easy. Everyone's just super helpful.”

Ms. Hunter has found an Airbnb apartment near Hamilton to rent, has passed her driving test and is now getting used to driving on the left-hand side of the road.

She acknowledges that the costs in Bermuda are higher, but Ms. Hunter says that is balanced by the fact that it is easier to get the investment to start a business in Bermuda. People are much more confident about investing in something where the business is sitting in Bermuda, she said.

Although Barbados and The Cayman Islands are offering similar schemes, Bermuda was the best fit for Ms. Hunter. “In Barbados there's no commerce other than tourism, which would not help me at all, and Cayman's really a captive community. I don't do a lot of captive work so that didn't make much sense to me either. This is the best place for my business to grow.

“Bermuda is easy to get to from New York, and when British Airways moves its Bermuda flight from Gatwick to Heathrow early in 2021, things will be easier from London as well. My husband's Swedish so we spend a lot of time in Sweden.”

She and her husband are adapting from working from an office to working from home and Ms. Hunter sticks to a mainly nine to five routine. “Maybe a little bit longer, earlier. But I can do everything.

“There are drawbacks, such as the costs in Bermuda, but one of the best things about Bermuda are the people. The local culture here is just so warm. It just reminds you of being at your grandpa's house.”

A SAFE HABOUR

For Tom O'Shaughnessy, Bermuda was very much a safe harbour – a place to come to during the Covid-19 pandemic and a jurisdiction he was already very familiar with.

When he found himself stuck in Canada and facing the prospect of having to pay Canadian taxes, he jumped at the chance of working in Bermuda for a year through the Work from Bermuda Certificate, the so-called ‘digital nomad’ scheme.

“I've actually been a digital nomad since 2002. I live in Panama, but I run investment funds in the British Virgin Islands and in Bermuda. So, I actually carry on my work from Panama where I have my residency, but my businesses are in these other jurisdictions,” said Mr. O'Shaughnessy, who is President at O'Shaughnessy Education Foundation Ltd.

“To make a long story short, when Covid-19 hit, our daughter was schooling in Canada. My wife and I had gone to visit her and got caught there when Panama shut its airport down in middle of March.

“We were in Canada for almost nine months and there was a concern, because I'm a non-resident Canadian, that there would be some potential tax implication. The Canadian government said it was not a problem as long as Panama remained closed. Unfortunately, what happened is that Panama decided to open before we as a family felt it was safe to return and carry on a normal life.

“So, the decision to come here really was a known quantity for me. I understood what the business environment was, and I had some contacts here. It is basically a safe harbour, from a health standpoint, where I could carry on my digital nomad business while I waited for my own country to potentially become safe enough to return.”

Mr. O'Shaughnessy first came to Bermuda in 1986 when he worked for a Canadian organisation that had a subsidiary operation on the Island. He married his wife, Susan, in Bermuda in 1997.

“I have continued to pursue connections here and know what the business environment is, and the business opportunities are. I acquired some investment funds that are resident here in Bermuda and use the legal, business and accounting communities.”

About the Work from Bermuda Certificate, he said: “I saw something that was reported through one of the business journals and I reached out to the Bermuda Business Development Agency and asked, ‘are you guys going to do this?’ That's how I made the contact. And they responded quickly and were very interested and wanted to pursue the potential opportunity.

Through his contacts with Fairmont, Mr. O'Shaughnessy learned of a long-term residency programme at the Hamilton Princess and has decided to base himself at the hotel.

“As a package the hotel’s programme allows you to transition into Bermuda comfortably and not have to worry about things like having to shop for groceries. It allows you to softly blend in and then ultimately look for something maybe more permanent or more long-term.

In terms of drawbacks of working in Bermuda, he cites the cost of groceries but adds that people have to realise that Bermuda is a premium destination, and it is priced accordingly. “So, this is not for people who are looking for what I would call the quasi-retirement year, where they're going to save money. This is an experience.”

And benefits? “I like that there's no winter. I just found out that I can qualify as a resident now for a golf membership at any of the golf courses and I'm a golfer. So that's a big, big plus for me.

He also pointed to the business expertise that exists in Bermuda saying: “Some of it is local expertise, some of it is imported expertise. The auditor group that I'm dealing with are individuals from all around the world so there is a multi-cultural feel.

“Bermuda has an international environment where people understand the issues you're dealing with, whether its regulatory issues, financial issues or management issues.”