Work permit fees rise
MPs have approved increases to work permit fees. But the Opposition questioned why the “well-heeled” got a break with the fee for a ten-year work permit dropping from $20,000 to $15,000.Finance Minister Bob Richards tabled the bill hiking the fees for one-, two-, three- and four-year permits in the last sitting of the House of Assembly.Five-year permit fees hold steady at $5,150, and ten-year permit costs drop by 25 percent.“Despite its availability, the ten-year permit requires a great deal of commitment from the employer,” said Mr Richards, noting Bermuda currently has 22 active.Welcoming the increases, Shadow Home Affairs Minister Walter Roban nevertheless expressed “bewilderment” on the final item.Shadow Finance Minister took a harder line, questioning why Mr Richards would compare Bermuda’s fees to the much higher fees in Cayman — and yet seek to cut the price on the ten-year permit.Mr Richards countered that Cayman has no payroll tax, while Bermuda does, and said demand for the decade permit remained low in Bermuda.“This hasn’t really been a hit,” he said of the recently introduced category.The New Business permit, targeting international business, and the Global Work Permit, aimed at bringing staff from companies with overseas employees to the Island, are to be $750 per application.The Government Fees Amendment Regulation, 2013 would go into effect on April 1.