-
Ben Hirst
Practice Contracts team
London office
Bermuda - overview
Bermuda is a group of some 130 islands situated about 650 miles off the coast of North Carolina. Contrary to perception, it is not part of the Caribbean. The main island is about 21 square miles and is blessed with a semi-tropical climate. Bermuda enjoys one of the highest standards of living in the world and is a very attractive tourist destination.
To read a first-hand account of life in Bermuda, click here
Law Firms
Bermuda enjoys a reputation as a high quality jurisdiction for international business and is the world’s third largest reinsurance centre.
Principal Areas of Demand
- Corporate
- Banking & Finance
- Funds
- Commercial Property
- Commercial Litigation
- Trusts
Work Permits
All non-Bermudans require a work permit. If you are a UK or Commonwealth qualified lawyer you are generally required to have at least four years’ post qualification experience. You must be Commonwealth qualified to obtain a work permit. If your spouse wishes to work in Bermuda, his or her prospective employer must obtain permission from the Department of Immigration and be issued with a work permit. Unmarried partners have no right to reside on the island.
Re-Qualification
Bermuda operates a fused profession; all lawyers admitted to practise in Bermuda have rights of audience before the Bermuda courts. Admission to the Bar for non-Bermudans is restricted to those who are entitled to practise in another Commonwealth jurisdiction and who have been resident in Bermuda for twelve months and have a valid work permit. No examinations are necessary.
Remuneration and Benefits
Salaries in Bermuda are generally high. Finance and Corporate lawyers will earn from about US$140,000 at the 4PQE level, up to $300,000 for exceptional senior lawyers in their first year. Tax is low – there is a payroll tax of only 4.75%.
Lifestyle
Bermuda is one of the world’s leading holiday resorts and is fantastic for sports enthusiasts. There are eight golf courses, numerous tennis facilities and excellent cricket, football and rugby facilities. Hockey and squash are also very popular with a number of different leagues. There are also excellent watersports.
The majority of properties are rented. Accommodation can be expensive and moving into a shared house is the popular choice for singles. A two-bedroom flat/cottage (semi-furnished) will cost between $2,500-$5,000 per month. A good three-bedroom house can be obtained for between $8000-10,000 per month. The high cost of housing and the strict controls applying to non-Bermudians effectively rule out any prospect of house purchase.
As it does not take long to move around the island, scooters and mopeds are the popular mode of transport. Ferries are also a very popular mode of transport to work in Hamilton in the morning. Bermuda’s schooling is very good and is based on the British system. Most schools are government maintained, and there are also a few private schools.
Getting There
Bermuda is well served by the world’s major airlines. There are daily flights to and from major North American business centres, including New York, Toronto, Boston, Philadelphia, Atlanta, and Washington. There is a summer service to and from Miami, Orlando, Charlotte and Halifax. There are four flights weekly to and from London.
For further information on the legal market and job opportunities in Bermuda please contact your nearest Taylor Root office:
London:
Mark Walters E: markwalters@taylorroot.com T: +44 (0)20 7415 2828
Dubai:
Shane Morton E: shanemorton@taylorroot.com T: +9714 448 7770
Hong Kong:
Mark Coates E: markcoates@taylorroot.com.hk T: +852 2973 6333
Sydney:
Karlie Connellan E: karlieconnellan@taylorroot.com.au T: +61 (0)2 9236 9000
Melbourne:
Tim Fogarty E: timfogarty@taylorroot.com.au T: +61 (0)3 8610 8400