Visit Bermuda Business & Real Estate Guide 2023/24

BUSINESS & REAL ESTATE

BERMUDA MEANS BUSINESS

Small Bermuda is a global giant when it comes to business and financial services.

At only 21 square miles, Bermuda is an international hub of business development opportunities. In fact, global business is being done daily to the tune of billions of dollars amid the pastel buildings, balconies, and palm-lined sidewalks of Hamilton, the capital city.

It almost defies belief that such a tiny Atlantic jurisdiction could rank amongst the globe’s top insurance and reinsurance hubs or support half a million jobs worldwide. Yet the island’s diminutive physical scale belies its substantial economic impact — one that is only increasing amid an evolving regulatory landscape and rapid globalisation.

WHY BERMUDA?

Offering robust yet pragmatic regulation, capital efficiency, world-class talent, and leading markets for (re)insurance, trusts, wealth management, financial technology

(fintech) or digital asset businesses, and private-client structures, Bermuda appeals to companies and entrepreneurs looking to relocate to a jurisdiction whose quality of life matches its business opportunities.

Innovation and collaboration are key to Bermuda’s corporate success, and agile teamwork between Bermuda’s industry, government, and regulators underscores Bermuda’s status as a top-tier international financial centre.

ADVANCED INFRASTRUCTURE

This oldest of British Overseas Territories has long leveraged a combination of unique elements that make it easier for businesses to operate.

 BERMUDA’S SAFE AND SOPHISTICATED ISLAND LIFESTYLE IS PERFECT FOR FAMILIES AS WELL AS CORPORATE RELOCATIONS.

English, for example, is the lingua franca, as it is amongst business hubs around the world. The Bermuda dollar is on par with the U.S. dollar. And Bermuda’s location 650 miles off the U.S. East Coast positions the island conveniently between North American and European markets, with direct daily flights to key cities. Thus, Bermuda punches well above its weight in international commerce.

As a blue-chip financial services jurisdiction, Bermuda remains committed to cooperation and compliance with global tax standards whilst remaining competitive and retaining our value proposition.

But that’s not the primary reason for Bermuda’s attraction to most global companies; rather, the island’s worldrespected regulation, its compliance and global leadership with anti–money laundering and anti-terrorism financing

standards, its mature cluster of expertise, one-stop-shop appeal, and its speed to market are the key drivers.

Bermuda’s infrastructure is advanced, including excellent telecommunications and a fully electronic stock exchange.

A full member of the World Federation of Exchanges and affiliate member of the International Organisation of Securities Commissions (IOSCO), the Bermuda Stock Exchange (BSX) is recognised for commercially sensible listing requirements. It represents a leading market for the listing of investment funds, debt- and insurance-related securities, and those of small to medium enterprise firms.

BERMUDA IS CONNECTED

Because of the island’s strategic midAtlantic location and reputation for security and growth, Bermuda enjoys key

trade relationships with the United States, Canada, the United Kingdom, continental Europe, and Asia.

In addition, Bermuda is well trusted by the global financial community. In 2016, Bermuda became one of just two non–European Union jurisdictions to win full equivalency under Europe’s Solvency II Directive regulating commercial reinsurers. The decision by the European Parliament highlighted its faith in Bermuda’s ability to regulate to the highest standards.

Bermuda is also ranked as a “reciprocal jurisdiction,” a new designation introduced in 2019, in addition to being a “qualified jurisdiction,” on the other side of the Atlantic by the U.S. National Association of Insurance Commissioners (NAIC).

BERMUDA IS BLUE-CHIP RELIABLE

Bermuda is home to a wealth of worldclass talent. Within the two-square-mile City of Hamilton are leading accounting firms, along with auditors, financial advisers, lawyers, IT specialists, actuaries, reinsurance underwriters, brokers, fund administrators, corporate secretaries, and a full gamut of support services. These quality financial intermediaries have a decades-long history of collaboration, which differentiates Bermuda from other business destinations.

Established in 1969, the worldrespected Bermuda Monetary Authority (BMA) is celebrating 54 years of service and underpins Bermuda’s success as a top financial services centre. Responsible for overseeing all financial enterprises, as well as issuing the island’s currency, the BMA works closely with industry, government, and international regulatory bodies to keep its approach responsive and contemporary.

 THE TERRITORY PROVIDES AN ENVIABLE ENVIRONMENT FOR THOSE WHO LIVE HERE.

Photo courtesy of TABS Bermuda/Gavin Howarth

ITS PRO-BUSINESS CULTURE AND GOLD-STANDARD REGULATORY REGIME OFFER GLOBAL BUSINESSES A WORLD-LEADING PLATFORM FOR COMMERCIAL GROWTH AND INNOVATION.

The BMA’s sophistication as a commercial insurance regulator speeds capital to market and take on global insurance risk. Responsive legislative updates also keep Bermuda at the forefront of corporate governance.

Bermuda’s international business sector counts an estimated 4,411 international business employees who contribute directly to all economic sectors. According to Bermuda’s latest National Economic Report, international business contributed the greatest amount to Bermuda’s economy, providing $1.90 billion in total output, or 27.5 percent of total GDP. More than 60 percent of Bermuda’s vital foreign revenues can be attributed to this activity. Bermuda’s

economic model also supports hundreds of thousands of jobs globally, including in the United States (our closest and largest trading partner), Canada, and the United Kingdom through trade, foreign direct investment, and portfolio investment capacity.

The biggest engine for Bermuda’s own economy is the insurance industry, which traces its roots back to the 1960s, when the world’s first captive (self-insurance) companies were established. Today, Bermuda is the captive market’s global leader, with over 600 companies generating about $40 billion in annual gross written premiums.

Ensuring the risks of mostly Fortune 500 companies, captives help corpora-

tions rein in costs and mitigate risk; they are also becoming increasingly popular tools for wealth preservation and succession planning for high-net-worth individuals and family offices.

The mid-1980s saw the establishment of global commercial insurers and reinsurers, followed in the 1990s and early 2000s by consecutive capital-rich waves of “big cats” — or property-catastrophe specialist firms. These followed highseverity events like Florida’s Hurricane Andrew and 9/11, providing critical capacity to the insurance marketplace and transforming Bermuda as a result.

Ranked alongside New York and London as a (re)insurance centre of excellence, Bermuda has the most important

Property and Casualty (P&C) market and is the largest supplier of that type of reinsurance to the United States. Since 1997, Bermuda’s commercial (re)insurers have paid out over half a trillion dollars to policyholders and cedants in the U.S., European Union, and U.K. In addition to being the self-styled world’s risk capital, Bermuda is also fast becoming the world’s climate risk finance capital. In the last three years, Bermuda’s insurers and reinsurers have paid out $19 billion for losses caused by wildfires in California and Australia and typhoons in Japan. Today, Bermuda represents over 35 percent of the global property and casualty reinsurance market. The island is a pivotal player in mitigating

climate risk and building resilience for people, communities, and businesses all over the world, including in disasterprone developing countries that often lack insurance coverage, helping to close the global protection gap.

But insurance is not the only industry powering Bermuda’s economy. The domicile was one of the first international trust jurisdictions and today is a premier centre for trusts, wealth management, and private-client structures. It is also a major asset-management centre, with numerous funds, fund managers, and fund administration companies represented, especially Insurance Linked Securities (ILS).

NOT SURE WHERE TO START?

THE INDISPENSABLE MAPS OF BERMUDA GUIDE IS AVAILABLE DIGITALLY AT WWW.VISITBERMUDANOW.COM.

Shipowners and ship-management companies also form a key sector, along with a full range of maritime services; and Bermuda’s registry for superyachts, tankers, cruise ships, and vessels of all types is renowned as a Class 1 member of the prestigious British Red Ensign Group. The island’s aircraft registry is similarly known since its establishment in 1931 for high safety standards and regulatory oversight.

Numerous new industries are also choosing Bermuda as a home jurisdiction, diversifying the island’s economy. Technology start-ups, including digital asset businesses, are attracted by the same advantages that have helped the more traditional industries of insurance and financial services flourish here for decades.

Helping attract new industry and support established sectors is the Bermuda Business Development Agency (BDA), a public-private unit established in 2013. The agency serves to safeguard and enhance Bermuda’s world-leading platform for doing business and acts as a business concierge, supporting existing companies and proactively targeting investment and connecting new prospects with industry, government, and regulatory bodies to make setting up in Bermuda a smooth process.

Photo courtesy TABS Bermuda/Nhuri Bashir

A CELEBRATION OF TECH AND FINTECH INNOVATION

THROUGHOUT THE YEAR, BERMUDA CELEBRATES INNOVATION ON ALL FRONTS THROUGH THE DEPARTMENT OF ECONOMIC DEVELOPMENT (EDD).

IN ADDITION to two yearly technology conferences that attract local and international delegates, the island also peppers its annual calendar with various technological celebrations. Both yearly conferences are sponsored by the EDD and bring to Bermuda thought leaders in tech and fintech who gather to discuss the industry, significant innovations, and what it means for Bermuda and the world. These significant events are anchors for much more buzz happening throughout the year.

The annual TechAwards have recognised Bermudabased innovators since 2007. Every year, nominations are placed by the public and evaluated by judging panels composed of leaders in fintech and technology.

The 2022 TechAwards reception saw the celebration of various innovators, including:

Mobile App of the Year:

First Place: Clarien Bank;

Second Place: Whip Rideshare

Local Innovation of the Year:

First Place: Edu Coach;

Second Place: Deals –Isle of Devils

International Innovation of the Year:

First Place: Cactus Ltd.;

Second Place: Fit to Fly BDA

Youth Programme of the Year:

First Place: Bermuda Institute of Ocean Sciences;

Second Place: Connectech Coding Robotics Club

But wait, there’s more… Innovation can come from the unlikeliest places, so the EDD leaves no stone unturned, looking for creativity in schools as well. The Reverse Pitch competition invites high schoolers to solve specific challenges and present their tech solutions to a panel of fintech and technology industry judges.

The 2022 Reverse Pitch competition required school teams to solve the year’s Challenge #2, Automated Cooling Fan: “How can my fan come on and off depending on the temperature in the room?” An industry professional was assigned to each team as its mentor, assisting with industry knowledge, problem-solving methodologies, and project management skills. In the end, the Somersfield Academy team walked away with the

first prize, whilst the Berkeley Institute team walked away with the second.

These are a few examples of Bermuda’s busy tech and fintech calendar, enriched with the podcast. Now in its second season, the podcast aims to demystify fintech, its core concepts, and its importance for Bermuda.

Globally and locally, fintech is rapidly growing; and in doing so, it is introducing notable changes in the local economy and impacting conversations about it. Terms such as “cryptocurrency” and “blockchain” are now commonly

thrown around as part of everyday parlance. The Fintech Fridays podcast, presented by the EDD, understands that it is increasingly important for Bermudians to be well acquainted with and knowledgeable about fintech and how it could benefit the island and the local consumer in more ways than one; and every episode is produced with that very thought in mind.

You can follow and subscribe to the Fintech Fridays podcast on YouTube and any major podcasting platforms, including iTunes and Spotify.

BERMUDA IS SAFE

Bermuda’s economy is secure, and the jurisdiction is witnessing new investment and company incorporations across all sectors.

In addition, Bermuda’s legal system enjoys a trusted history. More than 400 years old, Bermuda’s court system can claim the distinctive legacy of having the oldest unbroken British roots outside the British Isles, a legacy grounded in English common law with recourse all the way as London’s Privy Council. More leading global law firms are setting up offices in the jurisdiction in recent years, joining established legal powerhouses.

Combined with its stability and convenient location, Bermuda’s continued relevance in an era of change can be attributed to the same fundamental principles that have underpinned its development as a blue-chip jurisdiction for the last 70 years.

What does that mean to the rest of the world? Bermuda represents a significant role in the rebuilding of cities and communities after the world’s worst disasters. Bermuda’s reinsurers, for example, paid nearly a third of insured losses from Hurricanes Katrina, Rita, and Wilma in 2004–2005; a quarter of Canada’s Fort McMurray, Alberta, wildfires losses in 2016; more than half of New Zealand’s 2010 earthquake liabilities; and a whopping 62 percent of the U.K.’s largest peacetime fire and explosion — the Buncefield oil-terminal fires of 2005.

In a more recent example, Bermuda paid a third of the estimated $100 billion losses from 2017 Hurricanes Harvey, Irma, and Maria and is estimated to pay as much as 25 percent of the industry losses related to Hurricane Ian in 2022. Bermuda insurers also make up a quarter of America’s medical liability insurance and reinsurance market.

Also, in the past decade, the island’s track record as a catalyst for change in the industry has continued, with the rise of alternative risk financing via “cat” bonds, ILS, and other financial instruments merging insurance with capital markets. Today, Bermuda has the largest depository of ILS listings with more than 90 percent of global capacity.

BERMUDA MEANS QUALITY

Against a stunning backdrop of pink-sand beaches, turquoise waters, and pastelcoloured buildings, Bermuda’s safe and sophisticated island lifestyle is perfect for families as well as corporate relocations.

Bermuda is an attractive and sophisticated island with a lifestyle to match. A welcoming culture, stunning natural beauty, first-rate schools, top-tier healthcare, sports, an enriching arts and cultural scene, and a UNESCO World Heritage Site all help to create one of the highest standards of living in the world.

Thus, the territory provides an enviable environment for those who live here, whilst its pro-business culture and gold-standard regulatory regime offer global businesses a world-leading platform for commercial growth and innovation.

MOVING TO PARADISE

People choose to relocate here for many reasons, including attractive work opportunities, safe living conditions, overall quality of life, and, of course, the island’s incredible natural beauty. For most people who relocate to Bermuda, it’s their employer that takes care of the work permit logistics. Non-Bermudians are required to have a government work permit to work on the island, and employers may apply for Standard Work Permits of one, two, three, four, or five years (with options for renewal). For more information, go to www.gov.bm/online-services/get-standard-work-permit. Once your work permit’s been secured, you can finally start settling into island life.

If you are interested in setting up shop here, Bermuda Business Development Agency’s (BDA) dedicated concierge staff is here to help connect you with everyone you need. Visit www.bda.bm/concierge-business-services for more information or email info@bda.bm to start doing more business in Bermuda.

RELOCATING TO BERMUDA

HERE’S WHAT YOU NEED TO KNOW FOR A SMOOTH TRANSITION.

UNDOUBTEDLY, Bermuda’s allure attracts people from all over the globe. Mark Twain once famously remarked, “You can go to heaven if you want to. I’d rather stay in Bermuda.” Although the island has changed since this statement, the sentiment still rings true. The island, encompassing just 21 square miles, is an otherworldly paradise that over 63,000 people, fortunately, call home. If you are hoping to do the same, here are some things you should know before making the move.

Entry Requirements

To reside in Bermuda as a nonBermudian, you first need to secure work. If you successfully

apply for a job, your employer will need to obtain a work permit approved by the government, which can range from one to five years. If you have a spouse or children, they can join you in Bermuda as your “dependents” if they are eligible; but this does not permit them to work in Bermuda.

Another way to stay in Bermuda longer than the permitted vacation period of three months is by applying for the “Work from Bermuda” 1-year Certificate. This enables digital nomads to work remotely from Bermuda for registered companies operating overseas.

Accommodations

Once you receive the approved paperwork to live in Bermuda, you will be eager to rent your share of the “rock,” as locals affectionately call the island. Due to Bermuda’s quaint size and exclusivity, rental prices may be higher than what you’re used to. Depending on the property size you’re looking for, several real estate agencies can help you find your dream home or understand current investment laws if you are looking to buy.

Transportation

Unbeknownst to most new residents, only one car per household is permitted in

Bermuda. However, you can own multiple scooters, which is the preferred method of transport for most islanders. Bermuda also has a robust public transportation system with Sea Express ferries and Bermuda Breeze buses.

For those looking to own and operate a vehicle, obtaining a driver’s licence in Bermuda is simple and consists of three main steps. First, you need to complete a Driver’s Licence Application, which includes a visit to your doctor to confirm you are fit to operate a vehicle and a copy of your work permit and rental lease to show proof of residency. Then you will be

required to take a written exam on the rules of Bermuda’s roads, and a handbook to help you study beforehand can be purchased at the Transport Control Department. Once you successfully pass the exam, you can purchase a learner’s permit for your preferred vehicle. From there, you should familiarise yourself with Bermuda’s roads by booking lessons with a local driving instructor, the details of which can be obtained by calling the Transport Control Department. Once you are comfortable and confident driving on the left-hand side of the road, your instructor can schedule a driving test for you. A passing grade on your driving test will grant you a licence valid for up to 10 years, depending on your age.

Education

If you have children, Bermuda has both public and private educational options. The curriculum at each school varies, so depending on where you hail from, you may be able to find a pathway similar to what your child studied before. For example, Mount Saint Agnes Academy offers the Alberta, Canada, provincial curriculum; and Saltus Grammar School offers a variety of Advanced Placement courses for high school–aged students. Most other schools on island follow the U.K. National Curriculum including I/GSCE and the International Baccalaureate.

Expenses

Naturally, the cost of living in Bermuda is higher due to its isolated position in the Atlantic Ocean. Everything from clothing to furniture and most food items is imported, driving up prices. Instead of shipping in your previous items like furniture, you may find it more economical to purchase them from secondhand stores after you arrive. Be mindful when importing goods that you must pay customs duty. When it comes to grocery shopping, try to support local farms and fishermen or buy from bulk stores.

Adopting an Island Lifestyle

In Bermuda, you will embrace a slower pace of life and often find yourself stopping to appreciate the island’s beauty and its people. Expect to be greeted by unfamiliar faces in the streets and to strike up a friendly conversation with the stranger sitting next to you on the bus. This camaraderie is a hallmark of Bermuda’s culture and customs.

You must also acquaint yourself with the island’s gastronomy. Fried fish sandwiches on raisin bread, fish chowder, and codfish breakfasts are a few local favourites — all pair nicely with one of the island’s famed tipples, a Dark ’n Stormy or a Rum Swizzle.

IMPORTANT CONTACTS

ASSOCIATIONS AND CLUBS

Bermuda Amateur Swimming Association

Tel: 292-1713

Bermuda Bowling Club

Tel: 236-5290

Bermuda Bridge Club

Tel: 541-0551

Bermuda Cricket Board of Control

Tel: 292-8958

Bermuda Dive Association, The Tel: 238-2332

Bermuda Equestrian Federation

Tel: 234-0485

Bermuda Folk Club

Tel: 291-2070

Bermuda Football Association

Tel: 295-2199

Bermuda Golf Association

Tel: 295-9972

Bermuda Hockey Federation

www.bhf.bm

Bermuda Karate Institute

Tel: 292-2157

Bermuda Lawn Tennis Association

Tel: 296-0834

Bermuda Musical and Dramatic Society

Tel: 292-0848

Bermuda Physically Handicapped Association

Tel: 293-8148

Bermuda Rugby Football Union

www.brfu.bm

Bermuda Sailing Association

Tel: 295-7935

Bermuda School of Music

Tel: 296-5100

Bermuda Society of Arts

Tel: 292-3824

Bermuda Squash Racquets Association

Tel: 292-6881

Bermuda Sub Aqua Club

Tel: 291-5640

Bermuda Track and Field Association

Tel: 296-0951

Bermuda Triathlon Association

Tel: 324-9236

Big Brothers and Sisters of Bermuda

Tel: 232-2802

Gilbert and Sullivan Society

Tel: 735-1547

In Motion School of Dance

Tel: 292-7651

Jackson School of Performing Arts

Tel: 292-5815

Lions Club/Hamilton

Tel: 535-2222

Masterworks Foundation

Tel: 236-2950

National Tennis Stadium

Tel: 292-0105

Royal Bermuda Yacht Club

Tel: 295-2214

Royal Hamilton Amateur Dinghy Club

Tel: 236-2250

Walking Club of Bermuda

Tel: 737-0437

ATTRACTIONS

Bermuda Aquarium, Museum & Zoo

Tel: 293-2727

www.bamz.org

Bermuda Arts Centre at Dockyard

Tel: 534-2809

www.artbermuda.com

Bermuda National Gallery

Tel: 295-9428

www.bng.bm

Bermuda National Trust

Tel: 236-6483

www.bnt.bm

Bermuda Society of Arts

Tel: 292-3824

www.bsoa.bm

Bermuda Underwater Exploration Institute

Tel: 292-7219

www.buei.bm

Crystal Caves of Bermuda, The Tel: 293-0640

www.caves.bm

Masterworks Museum of Bermuda Art

Tel: 299-4000

www.masterworksbermuda.org

National Museum of Bermuda

Tel: 234-1333

www.nmb.bm

BABY EQUIPMENT RENTALS

Little Longtails

Baby Equipment Rentals

Tel: 707-7658

www.littlelongtails.com

COMMUNICATIONS

Digicel Bermuda

Tel: 500-5000

www.digicelgroup.com/bm/en.html

LiveNet

Tel: 400-5983

www.livenet.bm

CONSULATES

U.S. Consulate General

Tel: 295-1342

Portuguese Consulate

Andrea Moniz de Sousa

Tel: 704-6338

HONORARY CONSULS

Austria: Katarina Hoskins

Tel: 494-4019

Belgium: Philippe Dutranoit

Tel: 232-3902

Canada: Heather Conyers

Tel: 292-2917

Denmark: Bent Poulsen

Tel: 295-4806

Finland: John Riihiluoma

Tel: 295-2244

France: Nicole Haziza

Tel: 777-5557

Germany: Jens Alers

Tel: 295-0614

Ireland: John Kane

Tel: 295-6574

Italy: Giocchino Di Meglio

Tel: 295-5391

Jamaica: Winston Laylor

Tel: 295-5264

Luxembourg: Curt Engelhorn

Tel: 295-1082

Mexico: Rod Attride-Stirling

Tel: 296-8314

Netherlands: Maria Peterich

Tel: 236-4578

Norway: C.N.A. Butterfield III

Tel: 295-5519

Portuguese Consulate

Tel: 292-1039

Spain: A.C.J. Dean

Tel: 295-3062

Sweden: Jens Juul

Tel: 293-7242

Switzerland: Fabian Schonenberg

Tel: 295-5588

COURIERS

DHL Express

14 Burnaby St., Hamilton

Tel: 294-4848

www.dhl.com

FedEx

3 Mills Creek Rd., Pembroke

Tel: 295-3854

www.fedex.com

Mailboxes

11 Bermudiana Rd., Pembroke

Tel: 292-6563

www.mailboxes.bm

UPS/International

Bonded Couriers of Bermuda, Ltd. Dallas Building 10 Park Rd., Hamilton Tel: 295-2467

www.ups.com/bm

DRY CLEANERS

Just Shirts Dry Cleaners 20 Bermudiana Rd., Hamilton Tel: 292-3063

EVENT PLANNERS

Bermuda Bride

Tel: 534-2344

www.bermudabride.com

Bridal Suite, The 3 Limehouse Lane, Hamilton Tel: 705-6739

www.bridalsuitebermudaweddings.com

Destination Wedding

Bermuda

14 South Rd., Devonshire Tel: 236-8252

www.destinationweddingbermuda.com

Exclusive Events

133 Front St.,Hamilton Tel: 238-3331

www.eebermuda.com

FLORISTS

Demco

14 South Rd., Devonshire Tel: 234-7777

26 Church St., Hamilton Tel: 293-3626

www.demco.bm

Exclusive Flowers

75 Reid St., Hamilton Tel: 238-3331

www.eebermuda.com/flowers

Flowers by GiMi

37 Front St., Hamilton Tel: 297-4464

www.flowersbygimi.bm

GOVERNMENT INSTITUTIONS

Airport Operations

www.bermudaairport.com

Attorney General www.bermudalaws.bm

Bermuda Business Development Agency www.bda.bm

Bermuda College www.college.bm

Bermuda Economic Development Corporation www.bedc.bm

Bermuda Hospitals Board www.bermudahospitals.bm

Bermuda Land Development Company www.bldc.bm

Bermuda Monetary Authority www.bma.bm

Bermuda National Library www.bnl.bm

Bermuda Tourism Authority www.gotobermuda.com

Bermuda Transport Control Department www.etcd.gov.bm

BermudaNIC (registrations) www.bermudanic.bm

Central Policy Unit www.gov.bm

Commission for Unity and Racial Equality www.communityandculture.bm

Economic Development Department www.gov.bm/department/economicdevelopment-department

Land Valuation Department www.landvaluation.bm

Registrar of Companies www.roc.gov.bm

Social Insurance Department www.socialinsurance.gov.bm

Tax Commissioner www.gov.bm

GROCERY, FOOD & RETAIL DELIVERIES

Crown Point Grocery Services Tel: 705-0804

www.crownpointbda.com

Hook Food Delivery Tel: 519-9696

www.hook.bm

Pronto Grocery & Retail Delivery Tel: 542-4350

www.pronto.bm

Sargasso Restaurant Delivery Tel: 542-4350

www.sargassosea.app

GROCERY STORES

Harrington Hundred’s 99 South Shore Rd., Smith’s Tel: 293-1635

Lindo’s Family Food

126 Middle Rd., Warwick Tel: 236-1344

Market Place

Supermarket, The Islandwide Tel: 295-6006

Miles Market 96 Pitts Bay Rd., Pembroke Tel: 295-1234

HEALTHCARE

Atlantic Caregiving

Tel: 292-9690

www.atlanticcaregiving.com

B.M.S.G. Health Express

Urgent Care

Tel: 292-0022

www.bermudamedical.com

Family Practice Group, The Tel: 236-0001

www.fpgroup.bm

Hamilton Medical Centre, The (walk-in clinic for blood tests and TCD physicals)

Tel: 400-8378

www.hamiltonmedicalcenter.bm

King Edward VII Memorial Hospital Tel: 236-2345

www.bermudahospitals.bm

Wee Care Pediatrics Tel: 296-3032

www.bermudaweecare.com

Optometrist: Atlantic Vision Care

68 Church St., Hamilton Tel: 295-7300

www.atlanticvisioncare.bm

Dentist: Coral Dental

Bermudiana Arcade

27 Queen St., Hamilton Tel: 295-8040

www.coraldental.bm

MOVIE THEATRES

Media Lounge Cinema, The Tel: 707-0734

www.medialoungebda.com

Speciality Cinema Tel: 292-2135

www.specialitycinema.bm

NEWS

Bermuda Broadcasting Company Limited

www.bermudabroadcasting.com

Bermuda Weather www.weather.bm

Bermynet www.bermynet.com

Bernews www.bernews.com

eMoo www.emoo.bm

Royal Gazette, The www.royalgazette.com

OFFICE SUPPLIES

P-Tech

2 Reid St., Hamilton Tel: 295-5496

PET STORES Pet Stop

4 Mills Creek Lane, Hamilton Tel: 824-7387

Noah’s Ark

Feed & Supply

3 Marsh Lane, Devonshire Tel: 236-1533

POST OFFICES

General Post Office, The 56 Church St., Hamilton Tel: 297-7893

Devonshire Post Office 1 Orange Valley Rd., Devonshire Tel: 236-0281

Flatts Post Office 65 Middle Rd., Smith’s Tel: 292-0741

Mangrove Bay Post Office 55 Mangrove Bay Rd., Sandys Tel: 234-0423

Southampton Post Office 2 Church St., Southampton Tel: 238-0253

St. George’s Post Office 11 Water St., St. George’s Tel: 297-1610

Warwick Post Office 70 Middle Rd., Warwick Tel: 236-4071

PRIVATE SCHOOLS

Bermuda High School for Girls, The 19 Richmond Rd., Pembroke Tel: 295-6153

www.bhs.bm

Bermuda Institute 234 Middle Rd., Southampton Tel: 238-1566

www.bermudainstitute.bm

Bermuda Montessori School 23 Rosemont Ave., Pembroke Tel: 292-7209

Mount Saint Agnes 19 Dundonald St. West, Hamilton Tel: 292-4134

www.msa.bm

Saltus Grammar School 108 St. John’s Rd., Pembroke Tel: 292-6177

www.saltus.bm

Somersfield Academy 107 Middle Rd., Devonshire Tel: 236-9797

www.somersfield.bm

Warwick Academy 117 Middle Rd., Warwick Tel: 236-1917

www.warwick.bm

TRANSPORTATION

Bermuda Breeze Buses Tel: 292-3851

www.gov.bm/bus

Bermuda Rental Car Ltd. Tel: 236-2453

www.bermudarentalcar.com

BTA Dispatching Tel: 295-4506

Oleander Cycles Tel: 236-2453

www.oleandercycles.bm

Sea Express Ferry Tel: 295-4506

www.marineandports.bm

Smatt’s Cycle Livery Ltd. Tel: 295-1180

www.smattscyclelivery.com

VETERINARIAN

Ettrick Animal Hospital 75 Middle Rd., Warwick Tel: 236-0007

www.ettrick.bm

Small Pebble, Big Ripple.

At only 21 sq. miles, Bermuda is a leading offshore insurance/ reinsurance market with a proven world class reputation for progressive legislation, robust regulation, and as a centre for innovation. We’re now leveraging our expertise to become the world leader in Fintech.

To learn more, visit gov.bm/department/ economic-developmentdepartment

THE EDD — WHO ARE THEY AND WHAT DO THEY DO?

FOR ITS SMALL SIZE, Bermuda has significant ambitions: sustainable economic growth built on a solid business foundation and infrastructure, historical resiliency and innovation, and legendary self-reliance. The sophisticated business centre is best placed to bring innovative risk and insurance, high-net-worth services, and technology — thanks to its emphasis on collaborative innovation, regulatory excellence, speed to market, and top talent across industry sectors.

The Economic Development Department (EDD) was created in 2020 to focus on advancing the sustainable growth, development, and diversification of Bermuda’s economy. In other words, it was tasked with facilitating the exploration of innovative trends and the development of appropriate policies in support of Bermuda’s economic development and diversification goals.

In addition to housing the Office of Fintech, the EDD provides a wide range of services, including concierge and engagement, as well as education and training. It is also responsible for the Alien Land Licensing and the Incentives for Job Makers processes.

EDD’s Services:

1. Business Services: Solidifies relationships with inbound interest as guided by the Economic Recovery Plan and handles incentives for job makers and the alien land licensing processes.

2. Communication, Education, and Compliance: Works to develop a sustained, informed, skilled, and connected talent pool to propel the jurisdiction as it consolidates its position as a global leader in fintech.

3. Concierge and Engagement Services: Provides concierge services

to Bermuda’s inbound investors by streamlining and expediting government processes.

4. Legislative Affairs and Research: Assists with initiating public and private legislative initiatives to improve corporate product and service offerings.

5. Office of Fintech: Works to accelerate the growth of Bermuda’s fintech ecosystem.

There are service teams that work together to achieve the department’s objectives, which are to:

1. Facilitate, create, and implement policies to support the government’s Economic Recovery Plan.

2. In collaboration with industry stakeholders, position Bermuda as an ideal test market for innovative product and industry development.

3. Analyse innovative developments and trends through research and stakeholder engagement.

4. Identify the jurisdiction’s market fit, clearly communicate its message, and drive opportunities that lead to economic activity.

5. Process various Land Licenses and Incentives for Job Makers applications in a timely, efficient, and professional manner.

6. Facilitate opportunities for technology education, mentoring, and training, and support e-entrepreneurship.

7. Help create a more attractive regulatory environment for business and enhance communication between the Government of Bermuda and the private sector.

As often mentioned about Bermuda as a jurisdiction, it wants to be the home of innovation, the Silicon Valley of the Atlantic Ocean, and the Davos of the deep blue sea. It is also often said that doing business in Bermuda is like doing business in paradise. And the EDD facilitates that.

USEFUL BUSINESS CONTACTS

Bank of N.T. Butterfield & Son Limited, The Tel: 295-1111

www.butterfieldgroup.com

Bermuda Broadcasting Company Limited Tel: 295-2828

www.bermudabroadcasting.com

Bermuda Business Development Agency (BDA)

Tel: 292-0632

www.bda.bm

Bermuda Business Directory Tel: 295-4600

www.bermudadirectory.com

Bermuda Chamber of Commerce

Tel: 295-4201

www.bermudachamber.bm

Bermuda Commercial Bank Limited

Tel: 295-5678

www.bcb.bm

Bermuda Executive Services Tel: 296-5627

www.bermudaemployment.com

Bermuda Government Tel: 295-5151

www.gov.bm

Bermuda Government Economic Development Department Tel: 444-2253

www.gov.bm

Bermuda Hotel Association Tel: 295-2127

www.visitbermudanow.com

Bermuda Monetary Authority Tel: 295-5278

www.bma.bm

Bermuda Philatelic Bureau

Tel: 297-7865

www.gov.bm

Bermuda Skyport Corporation Limited

Tel: 444-4400

www.bermudaairport.com

Bermuda Stock Exchange Tel: 292-7212

www.bsx.com

Bermuda Tourism Authority

Tel: 296-9200

1-800-BERMUDA

www.gotobermuda.com

Bermuda Yellow Pages

Tel: 297-9355

www.bermudayp.com

Clarien Bank

Tel: 296-6969

www.clarienbank.com

Corporate Concierge

Bermuda Ltd.

Tel: 296-8575

www.corporateconcierge.bm

Digicel Bermuda Tel: 500-5000

www.digicelgroup.com

Electronic Services Limited

Tel: 236-3885

www.electronicservices.bm

Gateway Systems Limited

Tel: 292-0341

www.gateway.bm

HSBC Bank Bermuda Limited

Tel: 295-4000

www.hsbc.bm

LF Wade International Airport

Tel: 293-2470

www.bermudaairport.com

OBM International

Tel: 278-3550

www.bermuda.obmi.com

Property Group Ltd., The Tel: 234-6900

www.property-group.com

Queen Group, The Tel: 296-5627

www.queenmgt.com

Washington Properties (Bermuda) Limited

Tel: 295-4186

www.washingtonproperties.bm

BERMUDA GOVERNMENT — ECONOMIC DEVELOPMENT DEPARTMENT (EDD)

129 Front Street St., Hamilton

Tel: 444-2253

www.gov.bm

Facebook: @ EcomonicDevelopmentDepartment

Instagram: @edd_bermuda

LinkedIn: The Economic Development Department

The EDD facilitates the exploration of innovative trends and the development of appropriate policies in support of Bermuda’s economic development and diversification goals. It also promotes Bermuda as the optimal jurisdiction across industries. In addition to housing the Office of Fintech, the EDD provides a wide range of services, including concierge and engagement as well as education and training. It is also responsible for the Alien Land Licensing and the Incentives for Job Makers processes.

BERMUDA MONETARY AUTHORITY

BMA House

43 Victoria St., Hamilton

Tel: 295-5278

www.bma.bm

The Bermuda Monetary Authority (BMA) is the regulator of Bermuda’s financial services industry.

Established by statute in 1969, the BMA has changed significantly over almost five decades to meet the changing needs of the financial services sector on a local and global scale. The comprehensive macroprudential regulatory approach has become an integral part of its tool kit in reducing the risk of instability of the financial services sector. Coupled with this

INSIDER’S GUIDE

approach is the BMA’s support of Bermuda’s overall framework in order to create a secure and stable financial environment in Bermuda whilst ensuring that the island remains an attractive jurisdiction for conducting local and international business. Additional responsibilities for the BMA include issuing Bermuda’s national currency, managing exchange control transactions, assisting other agencies with the detection and prevention of financial crime, and advising the government on banking and other financial and monetary matters. The BMA develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses, investment funds, fund administrators, money service businesses, corporate service providers, and insurance companies. It also regulates the Bermuda Stock Exchange.

DIGICEL BERMUDA

46 Cedar Ave., Hamilton Tel: 500-5000

www.digicelgroup.com

Stay connected with Digicel Bermuda’s fastest network and awardwinning LTE data. Digicel offers its customers the best service, best value, and best experience to enrich your digital lifestyle. With a variety

of pre-paid plans to choose from, stay connected whilst here on business or vacation in Bermuda. Visit them at 46 Cedar Avenue, Hamilton (opposite the Hamilton Bus Terminal). Digicel. Better Together.

OBM INTERNATIONAL

Woodbourne Hall

1 Gorham Rd., Hamilton Tel: 278-3550

E-mail: bermuda@obmi.com

www.bermuda.obmi.com

OBMI is a global master planning, architecture, interiors, and landscape design firm established in Bermuda in 1936. Their approach is inclusive, innovative, and transparent. OBMI believes that building relationships with its clients is the foundation of a successful project. Its robust portfolio embraces a selection of exquisite residential designs, large-scale commercial and civic projects, boutiquestyle resorts, and a variety of retail and restaurant transformations. With over 85 years of expertise in Bermuda and around the world, OBMI is recognised as an industry leader in design excellence.

OLEANDER CYCLES AND BERMUDA RENTAL CAR LTD.

6 Valley Rd., Paget Tel: 236-2453

www.oleandercycles.bm

www.oleanderebikes.com

www.bermudarentalcar.com

Bermuda’s No. 1 scooter livery offering quality one- and

two-seater scooters, electric pedal bikes, and fun, easy-tomanoeuvre two-seater cars at competitive rates. The new addition to their fleet — compact cars featuring A/C, Bluetooth stereo, and electric windows — means that you can now travel around Bermuda in style and comfort. You will receive five-star service and a safety demonstration with their friendly staff. Oleander’s reputation is the best in Bermuda and has been earned since opening in 1964. They have locations at each end of the island in Dockyard and St. George’s plus two in the centre of the island, including Hamilton and Paget. Free delivery or transportation via their courtesy vans to and from your accommodations is available no matter where you are on the island. They are open seven days a week.

SMATT’S CYCLE LIVERY LTD.

Hamilton Princess & Beach Club

74 Pitts Bay Rd., Pembroke Tel: 295-1180

www.smattscyclelivery.com

Smatt’s Cycle Livery is a mainstay of the rental cycle business in Bermuda. Originally a small momand-pop shop, the family business was one of the first cycle liveries on the island. They are well known for their friendly and helpful staff. For that reason, they enjoy many repeat customers who visit the island every year. Navigate Bermuda’s highways,

With so much to explore, you’re sure to find just what you’re looking for in Bermuda. Here are our top picks for doing business on the island.

byways, and hidden lanes on your scooter and discover Bermuda’s best-kept secrets. There are endless possibilities in Bermuda, and the best way to experience them all is on two wheels. The seat of a Smatt’s cycle is the best way to see the island — guaranteed!

WASHINGTON PROPERTIES (BERMUDA) LIMITED

Church and Reid Streets, Hamilton

Tel: 295-4186

www.washingtonproperties.bm

The perfect location from which to conduct business can be found in the “Heart of Hamilton.” Washington Properties, located between Church and Reid Streets, has offices available from 200 square feet to 15,000 square feet. Washington House, the newest member of Washington Properties, built in 2010, offers concierge service and security access to the building. The offices accommodate local and international businesses, whilst the retail outlets offer a variety of products and services to both residents and visitors. Within easy walking distance to financial and legal services, transportation, parking, restaurants, and shopping, it is hard to find a better location.

WEST END DEVELOPMENT CORPORATION (WEDCO)

Clocktower Shopping Mall, Upper Level

Tel: 234-1709

www.wedco.bm

West End Development Corporation (WEDCO) was established in 1982 to assist in the commercial and residential development of the West End. With over 220 acres of land spanning across

five islands — in addition to Bermuda’s premier cruise ship port and a heavy lineup of well-established commercial businesses across a range of industries, including semiindustrial, retail, hospitality, and service — WEDCO

continues to develop the land it has been entrusted with, keeping sustainability and future growth in mind whilst creating a plethora of investment opportunities for local and overseas developers, entrepreneurs, and/or

venture capitalists. As Royal Naval Dockyard continues its transformation into Bermuda’s new commercial hub, WEDCO continues to reshape the entire West End, creating a vibrant “live, work, play” community.

VISITOR INFORMATION

Following are practical tips and useful information you will need whilst enjoying our island paradise. All information is subject to change, so we recommend calling to verify rates, schedules and more.

AIRLINES

Air Canada

American Airlines

888-247-2262

.................................... 800-433-7300 / 293-1420

British Airways

Delta Airlines

800-247-9297

800-221-1212 / 293-1024

JetBlue Airlines...........................

United Airlines

WestJet

BABY EQUIPMENT

800-884-9616

800-864-8331

800-204-0020

For equipment and toys needed for babies and children, Little Longtails is a local company that rents everything from car seats, cribs, and water toys from favourite and trusted brands (707-7658; www.littlelongtails.com).

BANKING

Banks are usually open 9 a.m. to 4:30 p.m., Monday through Friday. There are many ATMs island wide that dispense Bermuda dollars.

BUSINESS HOURS

Generally, shops, businesses, and professional offices open Monday to Saturday from 9 a.m. to 5 p.m. Clocktower Shopping Mall in Royal Naval Dockyard is open seven days a week, except Christmas Day and Good Friday. For more information on hours of operation, please visit www.dockyard.bm. Many grocery stores and pharmacies throughout the island are also open on Sundays with

shortened hours. Grocery deliveries to your vacation property are available through Crown Point Grocery Services (705-0804; www.crownpointbda.com), Hook Food Delivery (519-9696; www.hook.bm), and Pronto Shopping and Grocery Deliveries (542-4350; www.pronto.bm).

COMMUNICATION

CALLING CARDS: You can buy pre-paid calling cards in denominations of $5, $10, and $20 from LiveNet (400-5983; www.livenet.bm). Both Digicel Bermuda (500-5000; www.digicelgroup.com/bm/en.html) and One Communications (700-7000; www.onecomm.bm) offer pay-as-you-go long-distance plans.

INTERNET: Bermuda has a number of internet service providers offering Wi-Fi connections, including Digicel Bermuda, with their fastest network and award-winning LTE data, conveniently located opposite the Hamilton Bus Terminal at 46 Cedar Avenue, Hamilton (500-5000; www.digicelgroup.com/bm/en.html).

The Bermuda Visitor Services Centres in Hamilton, Dockyard, and St. George’s offer free Wi-Fi. Just sign up through the Bermuda Wi-Fi network. Also in Hamilton, free Wi-Fi is available at the Bermuda National Library on Queen Street and Washington Mall on Church Street. There is also free Wi-Fi available throughout the terminal at the LF Wade International Airport.

TELEPHONE SERVICES:

• Call to Bermuda: Country code 1, area code 441

• Call to U.S. and Canada from Bermuda: 1 + area code + phone number

• Call to the U.K. from Bermuda: 011/44/city code/phone number

• Call to other countries from Bermuda: 011/country code/city code/phone number

• Call to international operator: 00

CURRENCY/CREDIT CARDS

The Bermuda dollar is divided into 100 cents and is equal in value to the U.S. dollar; both are legal tender on the islands. Bermuda introduced new bank notes in 2009 with distinctly Bermudian designs, featuring wildlife on one side and local landmarks on the other. The exchange of other foreign currencies is done in banks. Credit cards are widely accepted in stores, restaurants, and hotels.

Photo courtesy of TABS Bermuda/Nhuri Bashir

Visa and MasterCard may be used for cash advances at local banks. In addition, HSBC Bank Bermuda Limited and The Bank of N.T. Butterfield & Son Limited provide ATMs islandwide for MasterCard, Cirrus, and Plus cash advances. Visa, MasterCard, and American Express cards are accepted mostly everywhere on the island.

CUSTOMS AND DUTY

U.S. residents who have been out of the country for 48 hours or more may take home items valued up to $800 once every 30 days without incurring duty. Adults may include 200 cigarettes, 100 cigars, and one litre of alcohol within their exemption, plus a second litre if produced by a Caribbean Basin country. Original paintings, drawings, and sculptures are duty-free but must be declared. For information regarding Cuban cigars and products, visit www.cbp.gov.

U.K. residents 17 or older may take home duty-free 18 litres of table wine and 4 litres of spirits or liqueurs (over 22 percent alcohol), or 9 litres of fortified or sparkling wine or other liqueurs, plus 200 cigarettes or 100 cigarillos, or 50 cigars or 250g of tobacco, plus other goods worth up to £390. Visit www.hmrc.gov.uk.

Canadian residents who have been out of their country for 48 hours or more can claim up to CAN$800 worth of goods without paying duty if they carry the goods with them. For more information, visit www.cbsa-asfc.gc.ca.

DRINKING AGE

The legal drinking age is 18.

ELECTRICITY

Electrical service is the same as in the U.S. and Canada: 110 volts, 60 cycles AC.

King Edward VII Memorial Hospital

King Edward VII Memorial Hospital

Caribbean, or Canada is $1.15; $1.35 to Great Britain; $1.35 to Europe; and $1.55 to Asia, Australia, or New Zealand.

PUBLIC HOLIDAYS

2023/24

Bermuda Day .............................. Friday, May 26

National Heroes’ Day Monday, June 19

Emancipation Day Thursday, August 3

Mary Prince Day (formerly Somers’ Day) Friday, August 4

Labour Day Monday, Sept 4

Remembrance Day .................. Monday, Nov 13 (observed)

LIFEGUARDS

Lifeguards are stationed at the following beaches daily from 10 a.m. to 6 p.m.:

• Clearwater Beach/Turtle Bay and John Smith’s Bay: July & August

• Horseshoe Bay: May 1 to November 30

MOVIE THEATRES

Watch a movie at Speciality Cinema & Grill, 12 Queen Street, Hamilton (292-2135, 295-2751; www.specialitycinema.bm) or The Media Lounge Cinema (707-0734; www.medialoungebda.com) at The Cooperage Building in Royal Naval Dockyard. Both are the perfect place to take a break and enjoy the air-conditioned, small, and intimate cinemas showing the latest box-office hits.

PHOTOGRAPHY

Bermuda boasts a treasure trove of talented photographers that can capture beautiful images for you during your visit. Some specialize in wedding photography. Here are a few to consider:

• Charles Anderson; www.charlesandersonphotography.com

• Meredith Andrews; www.meredithandrewsphotography.com

• Gavin Howarth; www.gavinhowarth.com

• Two & Quarter Photography; www.twoandquarter.bm

• Moongate Productions; www.moongateproductions.com

POPULATION

The 2022 population of Bermuda is approximately 64,031. (Source: www.gov.bm)

POST OFFICE

The General Post Office is located at 56 Church Street, Hamilton, and is open Monday to Friday, 8 a.m. to 5 p.m., last customer received at 4.30 p.m. (294-0457). Local letters are 50 cents, and local greeting cards are 40 cents. Air mail to the United States, the

Christmas Day Monday, Dec 25

Boxing Day Tuesday, Dec 26

New Year’s Day................. Monday, Jan 1, 2024

Good Friday Friday, March 29

RADIO STATIONS

Bermuda Broadcasting Company Limited (295-2828; www.bermudabroadcasting.com);

Ocean 89 – Top 40; Power 95 – R&B; Inspire 105 – Country/Christian

SMOKING

Smoking in public places, including restaurants and bars, and the sale of cigarettes from vending machines are banned in Bermuda. Offenders face a $1,000 fine.

TAXES AND GRATUITIES

There is no sales tax. At most restaurants, a 15 to 17 percent tip will be added to your bill. At hotels, a 7.25 percent hotel-occupancy tax, a 4.5 percent tourism guest fee, and a 10 percent service charge are added to your bill.

TRANSPORTATION

BUSES: With 11 bus routes and 14 bus zones of about two miles each, buses are frequent and plentiful; and they service the entire

Scan the QR codes for up to date ferry and bus schedules and information Tel:

island. They’re easy to spot, as they’re painted Bermuda pink with blue stripes. Most buses leave from the Central Terminal on Washington Street, next to City Hall in Hamilton. Bus stops are identified by either a solid blue or pink pole. Blue poles signify routes outbound from the City of Hamilton; pink ones mark routes inbound to the City of Hamilton. Note: Exact cash is accepted. For up-to-date routes, visit www.gov.bm/bus or call 292-3851.

FERRIES: A unique and reliable way to travel around Bermuda is on the Sea Express ferry system. Four public ferry routes offer a picturesque alternative for travel around the island. All ferries depart from the Hamilton Ferry Terminal on Front Street. Note: Cash is not accepted on the ferries. For up-to-date schedules, visit www.marineandports.bm or call 295-4506.

• The Blue Route stops at Royal Naval Dockyard in Sandys Parish on the west end of the island.

• The Orange Route only operates in the summer, and it stops at Royal Naval Dockyard before continuing to the Town of St. George.

• The Pink Route makes several stops in Warwick and Paget parishes.

• The Green Route stops at Watford Bridge and Cavello Bay, both in Sandys, and Rockaway in Southampton.

BUS AND FERRY FARES: Cash fares (on buses only) are $3.50 for up to three zones, $5 for up to 14 zones. It is cheaper to use tokens, tickets, or a pass on both the bus or ferry. You can buy a book of 15 tickets for $25 for three zones, and $37.50 for 14 zones. Alternatively, tokens are $2.75 for up to three zones, $4.50 for up to 14 zones. Children under 5 years of age ride free, and ages 5 to 15 for $2.75. An unlimited one-day pass is $19; two-day, $31.50; three-day, $44; four-day, $48.50; and one-week, $62. An unlimited one-day pass for children is $9.50; two-day, $16; three-day, $22; four-day, $24.50; and one-week, $31. All fares, tokens, tickets, and passes are the same for buses and ferries. For more information on fares, visit www.gov.bm/bus-fares or call 2923851. For more information on ferries, visit www.rccbermuda.bm/ferries_about.aspx or call the Hamilton terminal at 295-4506.

SCOOTERS: Rentals are available by the day or the week. Prices vary, but daily

rates range from $50 to $60 for a singleseat scooter. Double-seat scooters are slightly higher. It is mandatory for both drivers and passengers to wear helmets, which are included with the rental. A $32 non-refundable insurance waiver is also required. You must be 18 or older to rent a motor scooter or a moped, and most rental agencies will require that you demonstrate the ability to operate the vehicle properly following an instructional session on safety and handling. Contact Oleander Cycles (236-2453), Smatt’s Cycle Livery Ltd. (295-1180), or Elbow Beach Cycles Ltd. (296-2300).

ELECTRIC CARS: Visitors can now explore the island by renting two-seated electric vehicles from Bermuda Rental Car Ltd. (236-2453; www.bermudarentalcar.com), from Current Vehicles Bermuda  (296-8949; currentvehicles.com), or from Rugged Rentals (705-7368; www.ruggedrentalsbda.com). These electric cars can travel up to about 50 miles on a single charge, and recharging stations are found throughout the island. Visitors must be 25 years old and hold a valid car driver’s licence to rent and drive a vehicle.

Photo courtesy of TABS Bermuda/Jayde Gibbons of Queendom Heights

ELECTRIC BIKES AND PEDAL BICYCLES: You can also rent pedal bikes  from a variety of island outfitters, which are ideal for exploring the island. You can bring your pedal or electric bike aboard a ferry. Rental rates range from about $40 a day, with $15 insurance waiver required. If you need a little bit more help pedalling, try a hybrid electric bike.

Pedego Electric Bike Bermuda (533-8687; www.pedegoelectricbikes.com/ dealers/bermuda), located in St. George’s, offers electric bikes for rental starting from $50 for a half-day. Tours are also available to explore sites around the east end of the island. Oleander Cycles rents electric bikes, and they have locations islandwide (236-2453; www.oleanderebikes.com).

Two rideshare apps are also available. Download the Pink app (232-2453; www.pink.bm) and find the nearest Pink e-bike zone and start a bike and unlock a helmet from your phone. Prices start at $0.25 a minute with a $4 unlocking fee.

The Whip app (777-2539; www.grabawhip.com) allows you to unlock an electric push scooter. Rates start at $0.50 a minute and a $3 unlocking charge. Whips can be left anywhere around the island and not at a designated location.

For all rentals, you must obey Bermuda’s speed limit of 22 mph (35 km/h) and remember to drive on the left side of the road. For scooters and mopeds, gas stations are open 7 a.m. to 7 p.m. daily. Electric charging stations are available at most hotels, and specific stations are available through the rental provider. There are also two public charging stations: one by Penno’s Wharf and the other at Clearwater Beach in St. George’s.

TAXIS AND MINI BUS SERVICES: Taxis can usually be found outside Bermuda’s larger hotels, near the airport or on the streets of Hamilton, the Town of St. George, or in Royal Naval Dockyard. All taxis are metered at governmentset rates, and exact change is required. Current taxi fares are as follows, based on travel between 6 a.m. and midnight:

• For a one- to four-passenger taxi:  $7.90 USD for the first mile, $2.75 USD for each additional mile

• For a five- to seven-passenger taxi:  $9.95 USD for the first mile, $3.50 USD for each additional mile

Fares are 25 percent higher for one- to four-passenger taxis, and 50 percent higher for five- to seven-passenger taxis, between midnight and 6 a.m., all day on Sunday and on public holidays. Taxi businesses include Bermuda Island Taxi (295-4141), BIU Taxi Co-op Transportation (292-4476), BTA Transport Taxis (296-2121), CEO Transport Limited (234-4366 or 1-855-859-6454), and Quality Transport (337-2578 or 1-877-406-3189).

Bermuda’s taxi drivers are great guides, too. No one knows the best destinations better than they do. Taxi drivers displaying tour guide flags are qualified tour guides. The sightseeing rate is $50 USD per hour for a one- to fourpassenger taxi or $70 USD per hour for a five- to seven-passenger taxi.

Titan Tours offers a range of transportation services islandwide, including airport transfers, weddings, and corporate or sporting events. They also specialise in tailor-made islandwide sightseeing tours that can cover attractions and shopping in the capital city of Hamilton. The air-conditioned buses can accommodate small or large groups (234-1096; www.titantoursbermuda.com).

VISITOR SERVICES CENTRES

Hamilton: 10 Front St., 261-2872

Royal Naval Dockyard: 2 Dockyard Terrace, 296-9400

Town of St. George: 25 York St., 297-0556

WHEELCHAIR SERVICES

Wheelchair-accessible ferries: Hamilton Ferry Terminal, Dockyard, Rockaway, and St. George’s ferry stops only. Wheelchair-accessible minibus: Access Bermuda Disabled Transit (295-9106).

OWN A PIECE OF PARADISE

Yes, foreigners can purchase property in Bermuda!

There continues to be mystique surrounding the purchase of property here. While it’s true that there is a limited number of vacation homes in our 21 square miles, there are some unique choices. Although housing must be kept for locals, visitors are welcomed with open arms. What’s more, there are now more options than ever for making Bermuda a second or vacation home destination — and a great investment for the future that will maintain its value.

Bermuda is an ideal location, with easy access via daily direct flights to U.S. gateway cities, as well as Canada and the U.K. The island has a high standard of living, with excellent healthcare, a safe and modern infrastructure, and

enviable weather. With Bermuda’s pinksand beaches, clear turquoise waters, and vibrant culture, it’s no wonder visitors may want to own a slice of paradise.

FRACTIONAL AND WHOLE OWNERSHIP

Historically, a select number of homes above $3 million were the only options for foreigners to buy property in Bermuda. But with fractional (shared) and whole ownership options, there are a few opportunities for those working in Bermuda for an indefinite period, or those choosing to make this island a vacationhome destination. Those interested in buying vacation properties now have more to choose from as hotel developers have entered the market with luxury as well as more affordable options. Luxury fractional condominiums have been on the market for some time, with the ability to spend as many as eight, five, or

four weeks on the island.

Located on the waterfront of beautiful Hamilton Harbour, Newstead Belmont Hills is a favourite for those looking for a central and relaxed lifestyle within a tranquil setting. It offers freehold ownership opportunities for a spectacular vacation home with all the benefits of a luxury resort, including an award-winning 18-hole golf course, golf teaching centre, private ferry, beach access, three awardwinning restaurants, tennis, a fitness centre, and spa. There are two ways to invest in this island haven.

A very limited number of Newstead’s suites are available to buy outright as your Bermuda resort-living home. With all the amenities and benefits of being in a resort, the residences have a modern look and high-end appliances, fixtures, and furnishings. Belmont Golf Course membership is included with your purchase. Homeowners who will

Photos courtesy of The Property Group

not be living full-time at Newstead have the option of placing their home or a lock-off room (with its own entrance and patio) into the hotel’s rental pool to earn income. Prices start at $850,000.

Under the property’s shared vacation ownership programme, owners at Newstead purchase a one-sixth or one-twelfth fully deeded, transferrable interest in one of the resort’s 44 studios, or in one of its one- and two-bedroom suites. Owners are guaranteed to enjoy four to eight weeks of usage annually — two weeks at a time, four times a year or one week at a time, four times a year. There is also the option to place any weeks not required by the owner, their friends, or family into the resort’s rental pool to earn income. Newstead is the only property that allows this. Pricing for this option starts at $59,500.

Other fractional properties include Tucker’s Point on Bermuda’s prestigious East End. The Harbour Court Residence Club is a fractional ownership property

with a one-tenth interest in an 1,800 square-foot, two-bedroom, two-bathroom luxurious villa. Here, you’ll find 14 high-end, fully furnished villas with waterfront infinity pool and unrivalled water views. Ownership affords a minimum of five flexible weeks per year. Whether you seek rest and relaxation or activity and adventure, this is a great option starting at $199,000.

Perched on a limestone cliff, adjoining the Reefs Hotel is an enclave with 19 elegantly appointed two- and threebedroom residences overlooking the resort’s private pink-sand beach. Your family will befriend other families at the owner’s lounge, enjoy a private infinity-edge club pool, fitness centre, and rooftop putting green at The Reefs. Prices start at $185,000.

If you prefer full ownership “condo hotel” living, we have just what you’re looking for in Bermuda. Located just 10 minutes from the City of Hamilton, The Azura Bermuda development is To

nestled on the cliffs along Bermuda’s coveted stretch of South Shore beaches. Available for purchase are spectacular full-ownership one- to four-bedroom residences starting at $995,000.

The newly opened St. Regis Bermuda Resort and Residences in charming St. George’s is available for purchase by international buyers seeking something on the higher end of the market. This contemporary hotel boasts 120 rooms and suites and features an 18-hole golf course designed by Robert Trent Jones Jr. The St. Regis offers visitors the island’s first hotel casino and features world-class amenities, including multiple restaurants with panoramic ocean views, spa, pool, lounge bar, beach, and marina. The luxury condominiums are available for purchase starting at $1.8 million.

The Bermudiana development on the coveted South Shore features studios, one-, two-, and three-bedroom options as well. These more affordable units start at $375,000.

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BEAUTY AND PURPOSE

THE FIRST SETTLERS ARRIVED IN BERMUDA on the Plough in 1612; they faced harsh storms from the Western Atlantic and found that wooden houses were neither stable nor durable. It took until the end of the 17th century before the settlers turned to the Bermuda stone for its robust and resilient properties. They initially thought it was too soft to be an effective building material, but it has clearly stood the test of time!

Photos

The lack of fresh water on the island needed a level of ingenuity by the settlers; this directly influenced the distinctive roofs, constructed with stone slates, and repeated limewash coats to give an almost sculptural effect. The limewash cleansed the rainwater, and the steps slowed it before the “glides” directed it into barrel-vaulted or dome tanks. These tanks were partially sunk to take advantage of the cooling properties of the bedrock. Today, the tanks are generally hidden and located directly beneath the property.

Various styles influenced the architecture, including Georgian, High Victorian, and Edwardian, with the availability and

development of building materials from overseas. This resulted in the distinctive Bermuda architectural style instantly recognisable around the world, with the myriad of white pitched roofs and bright coloured rendered walls. This provides the richness and variety whilst maintaining a level of coherence across the Island.

Wil Onions and Val Bouchard were instrumental in shaping the classical residential style across the island since their return to Bermuda in the mid-1930s; 20 years later, they were joined by John McCulloch and formed the start of OBM Architects. The practice quickly became a leading architectural practice on the island

of Bermuda, where it has been for over 80 years, embedding sustainability principles and delivering high-quality designs in the classical Bermuda style or using a contemporary adaptation.

Bermuda’s style and building fabric have been a direct response to the high winds and hot, humid environment; and they provide a robust platform to resist climate change. Renewable technologies have subsequently developed, and Bermuda has seen an increase in solar panels that now adorn the white roofs and are integrated into design solutions and encompassed within the building code, demonstrating the flexibility and relevance of the architecture today.

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HOW TO BUY PROPERTY IN BERMUDA

Make sure you work with an experienced real estate agent who is knowledgeable and can provide access to all the properties on the market. Once you have chosen an agent, you can rely on them to be able to fulfil all your needs and help you narrow down your search.

Non-Bermudians purchasing property in Bermuda must apply for a licence through a local attorney. Financial and personal references are required as part of the application process, which may take four months from the date of the contract. Additional fees range from 0 percent or 6.5 percent within a hotel development, 8 percent for a condominium, and 12.5 percent for a residential home.

Condominiums and houses outside of the hotel tourism properties must have a minimum ARV (annual rental value) that qualifies them to be purchased by a non-Bermudian. This policy protects the affordable housing that can only be bought by Bermudians. Per regulations that took effect in March 2021, leasehold condominiums are no longer available to overseas

buyers unless they have a Residential Certificate or the condo is in a government-approved resort development. If an overseas buyer wants a leasehold condominium outside a resort development, he or she must invest $2.5 million to trigger the process, apply for appropriate certificates, and wait five years to purchase.

If you’re finding it hard to say goodbye when your trip has ended, you’re in luck: Bermuda’s market is seen as an opportunity for buyers. Older properties in need of renovation provide an opportunity for industrious buyers, whilst the newer developments are turnkey, with modern finishes and top-notch amenities. With greater opportunities and developments available, it’s an exciting time for vacation home buyers to make Bermuda the location for a second or vacation home.

You’ll find an array of investment options to suit your needs and many enticements to living here, including no income tax, no wealth tax, no capital gains tax or other direct taxes — not to mention the enhanced quality of life and vibrant culture that make the island a convenient, sophisticated haven.

 IF YOU’RE FINDING IT HARD TO SAY GOODBYE WHEN YOUR TRIP HAS ENDED, YOU’RE IN LUCK: BERMUDA’S MARKET IS SEEN AS AN OPPORTUNITY FOR BUYERS.

Photo courtesy of The St. Regis Bermuda Resort

PREPARING YOUR HOME FOR RETIREMENT

THE

WHAT SHOULD 45- to 60-yearold homeowners or buyers do when deciding on their next steps to living their later years comfortably? Time tends to creep up on you, and before you know it, retirement is here! People live well past 65, are in good health, and continue working past the traditional “retirement age.” Whilst still enjoying the income, it is wise to plan your future.

There are different drivers for the continued price increase in each price segment.

Some opinions indicated that houses averaging $750,000 to $1.5 million were often multigenerational houses that were in demand. The number of properties purchased in the two-tothree-million-dollar price range within the past three years has increased with young, married, professional Bermudans moving back home after the pandemic to be with extended family.

If you own property in Bermuda, an assessment of your current living environment may be just what you need to take you into retirement. House sizes

in Bermuda have generally increased over time, but a smaller house may be more practical.

We all dream of taking off on an adventure around the globe, and for most people, that time comes when the kids have moved out, vacation time is available, and money is no longer an issue. For this reason, there may come a point where you want or need to consider downsizing.

Failing to plan is a plan to fail. The big house may not be necessary anymore, so what are your options? Trends indicate that the ideal property is a two-bedroom, two-bathroom house or apartment that is easy to maintain, preferably on a single storey, and that can be locked up and off your mind whilst you’re travelling.

The two-bedroom, twobathroom property allows you to have kids, grandkids, or close friends visit and have their own bathroom. This also allows you to seamlessly adjust to having a live-in caregiver.

For empty nesters, it is important to plan your next steps. OBMI can assist you in preparing your retirement home if you wish to downsize, buy new, or build. The residential market for senior living is expected to continue to increase. Without adequate senior living residences in Bermuda, our options for redefining our current homes may be the best option, allowing you to age in place.

OBMI is a link partner with Age Concern and has advocated for senior living for over 10 years.

Photo courtesy of OBM International

INSIDER’S GUIDE

With so much to explore in Bermuda, you may just want to make this a permanent vacation. Here are our top picks for island real estate.

KELLER WILLIAMS BERMUDA

9 Berry Hill Rd., Paget

Tel: 236-0737

www.kwbermuda.com

Keller Williams Bermuda should be your first choice when considering buying or renting Bermuda residential or commercial property. Formed between an affiliation with global real estate giant Keller Williams Worldwide and local Bermuda company Moura & Associates, Keller Williams Bermuda has the benefit of combining experienced agents in the Bermuda market along with the leading-edge technology provided by Keller Williams Worldwide, their proven models for success, and access to an unsurpassed global network. Their agents are equipped with the training, tools, and skills to handle all your real estate needs, knowledgeably and professionally, to the very highest standard. As part of the Keller Williams Worldwide family, Keller Williams

Bermuda is now part of their Luxury Division; and they look forward to providing exemplary service for their high-end real estate clientele. Whether they represent the sale, purchase, or rental of a luxury home in Bermuda, Keller Williams

Bermuda is best qualified to assist you through the process.

THE PROPERTY GROUP LTD.

Nautilus House

82 South Rd., Warwick

Tel: 234-6900

www.property-group.com

The Property Group Ltd. is the finest of Bermuda’s real estate companies. They represent the most desirable properties available in every sector of the residential market for sale or rent on the island. Call their office or e-mail them for more information. After hours, please contact Sallyann Smith at 5354521 or sallyann@tpg.bm or Brittany Archer at 505-1466 or brittany@tpg.bm.

WASHINGTON PROPERTIES (BERMUDA) LIMITED

Church and Reid Streets, Hamilton

Tel: 295-4186

www.washingtonproperties.bm

The perfect location from which to conduct business can be found in the “Heart of Hamilton.” Washington Properties, located between Church and Reid Streets, has offices available that range in size from 200 square feet to 15,000 square feet. Washington House, the newest member of Washington Properties, built in 2010, offers concierge service and security access to the building. The offices accommodate local and international businesses, whilst the retail outlets offer a variety of products and services to both residents and visitors. Since they are within easy walking distance to financial and legal services, transportation, parking, restaurants, and shopping, it is hard to find a better location.