How To Move To Bermuda As An Expat part 2 – Part one is here.
How to Move to Bermuda in 2022
For many people, living life on their own terms means moving to a new place where they can experience new cultures, see the world and make new friends. Bermuda is an island located in the Atlantic Ocean with 54 square miles (140 square km).
Bermuda has a lot of things to offer those who are willing to pack up things and move there as expats. If you’re planning to move to Bermuda as an expat, below are the simple ways.
1. Get a Job
When thinking about moving overseas, one of the first things that come to mind is earning money. That’s no longer an issue for expats in Bermuda, where the economy is driven by the tourism industry, international business, and re-insurance. Although there are several opportunities available for expat professionals, it makes sense to have a job lined up before moving.
2. Choose an Expat-Friendly Destination
Not all countries are created equal when it comes to their friendliness towards foreigners. For example, Bermuda is one of the wealthiest nations – not just in terms of its GDP but also per capita. This means that there’s less competition for jobs, and living expenses are lower than you might expect them to be if you moved there from Europe or North America.
3. Get a Residence Visa
It’s easier to get a working visa in Bermuda than it is in most other countries. After obtaining a work permit, expats can apply for an open-ended resident visa that allows them to stay and work in Bermuda for as long they like. This is a great deal for those who want to set down new roots and make the island their home.
4. Get a Good Accountant
For expats, having a good accountant can help them avoid breaking any laws or overpaying taxes. Many accountants in Bermuda offer competitive rates for expats. Those who plan on living there long-term can also benefit from tax planning and investment advice to help them grow their wealth.
4. Build A Good Social Circle
The best way to settle into a new country is by making friends with expats that already live there as well as locals who share the same interests and values as you do. Expat clubs and organizations exist in Bermuda to make it easier for expats to meet like-minded people. Some social gatherings and clubs invite everyone in the community – making it easy for newcomers to make friends.
5. Learn Local Traditions
In addition to enjoying a low cost of living, Bermuda also has a rich culture and variety of traditional arts that make it a culturally interesting place to live in. These include festivals, parades, and even activities such as boat rides and visiting the zoo. Expats interested in learning local history can join a lecture series and learn more about Bermuda’s past.
6. Get Medical Insurance
Although the cost of living is low compared to most Western countries, but it’s still important for expats to get international health insurance before moving to Bermuda. This way, they can be at ease should something serious happen to them during their stay on the island. In fact, there will be proper care and treatment available at medical facilities without having to pay hefty medical bills.
7. Join Expat Clubs
After getting to know locals, expats should join one or more local Bermuda clubs that offer similar people the opportunity to meet up for social activities and even volunteer work.
There are sports (golf, cricket), arts (music, dancing), heritage (historical sites), and other clubs as well as those that focus on nationalities so you can meet up with other people from the United Kingdom, Canada, Australia, and South Africa for example.
Pros and Cons of Moving to Bermuda
You have finally decided to move to Bermuda. There are tons of pros and cons that you will want to consider before making this big move. The following article is filled with useful information that will help you prepare your movement here.
Relocating to Bermuda is a great way to make your money stretch. Because of the low living costs, you will find more money left over at the end of each month. With all of the affordable things to do on the island, you’ll never feel bored either.
The island is close to other major cities. You can travel to the United States, Canada, and the Caribbean Islands at any time. Plus, you are less than one hour away from Miami by plane. Also, since Bermuda is made up of a chain of islands, there are tiny communities nearby where residents can escape the hustle and bustle of city life.
Wallet-Friendly Property Market
Prices for buildings and homes to buy on the island are very low. This is due, in part, to the fact that there is a limited amount of land available for construction. With such a small area, the real estate market has not boomed in other parts of the world.
The weather is year-round warm without any harsh extremes. You can swim in the ocean during winter, spring and summer. Because of Bermuda’s proximity to the equator, you can enjoy tropical landscapes without dealing with bugs or humidity levels too high for comfort.
Bermuda has a stable economy, clear rules and regulations, and low crime rates. This makes it the perfect place to raise your children. Since there are not too many distractions, kids can achieve their full academic potential here.
Cost of Living
Whether you’ve just started making the big bucks or are already a high earner, moving to Bermuda can be expensive. As it turns out, living on an island in the North Atlantic isn’t exactly cheap. The median home price is USD 724,831.
Rent for a one-bedroom apartment would either be $1,200 or USD 3,000 a month (I can’t remember which). And since the country is only 21 miles long and 7 miles wide across the widest point (not including all those pesky islands), there isn’t exactly an abundance of places to live.
Driving on the Left Side
It may seem like a no-brainer, but just remember that it’s best to practice this one before you arrive. Driving on the left side of the road may sound like a bother, but it might make more sense once you realize cars drive on the left, not right.
In other words, all traffic comes at you from your right rather than your left. But if you’re planning on driving in Bermuda, just remember that the roads are steep and narrow. You’ve been warned.
Limited Employment Opportunities
The job market in Bermuda is relatively small, with only 1,000 jobs to go around for its 55,000 residents. That’s not a lot of choices when it comes to work, but don’t worry, the average wage is around USD 38,000. That’s more than enough to live comfortably on if you’re willing to live frugally. But if you want to make more, the only other option is teaching; and the annual salary for that profession is USD 40,000.
Private school is pricey in Bermuda, with the average tuition being around $41,000 USD a year. If that’s not doable for you, then prepare to spend $8,000 to $15,000 a year on tuition at the public schools. Your best bet would be home-schooling since courses like English and Maths are taught in that environment for free (and of course Science).
Want a drink? Prepare to pay the price when you move from your home country to Bermuda. You’ll quickly learn that this isn’t the island to come to if you want cheap booze. If you’re still thirsty after all of that, you can always cross the border into Hamilton and party for half-price at any one of the many bars there.
If you’re looking for a new place to live or just want to move somewhere new and exciting, moving to Bermuda is always an option. Whether you prefer city life or quiet beaches and solitude, there’s something here on the island for everyone. Nonetheless, check this guide for more information on how to move to this wonderful country.