Bermuda

Bermuda is a British Overseas Territory in the west of the Atlantic Ocean. It has four main islands adjoined by bridges and roughly 130 other smaller islands. Its population is approximately 64,000 at the time of writing, and the island’s culture is a mix of modern style US & UK and British Colonial history. It is a seven-hour flight from London and two and a half hours from New York.

Financial services is the main pillar of Bermuda’s economy (around 85% of the GDP), with tourism being the second.

Legal Industry

As a major offshore financial centre, Bermuda’s legal industry is constantly thriving. It is a common law jurisdiction and expat lawyers must have a Commonwealth qualification to practice Bermuda law, generally with three years’ post qualification experience before applying.

A number of major law firms have offices or headquarters in Bermuda. They offer high quality working environments and generally working with clients of a large scale. It is often a lively recruitment market for all levels seniority, from Associate to Partner-level.

The main practice areas are corporate, finance, funds, reinsurance, private wealth, commercial litigation and insolvency.

Lawyers tend to find themselves in broader roles as teams tend to be leaner than onshore, have a high level of responsibility, and work mostly with international clientele in other financial centres such as New York or London. You would be working under Bermudian law, which is similar to English law — While there will be a transitional phase for new starters, it is relatively smooth, and most lawyers adjust in the space of three to six months.

Lawyers usually find themselves having improved work-life balance when they relocate to Bermuda, working fewer late nights and weekend hours. However, it is important to note that your practice wouldn’t be a nine-to-five, and you would still be surrounded by a competitive and challenging environment where your career trajectory can continue.

Lifestyle

Bermuda offers an outdoors and more relaxed lifestyle than what major cities can provide. You would typically not find yourself more than a few minutes’ walk from the beach, and there are plenty of outdoor activities such as golf, football/soccer, cricket, rugby, tennis and a full range of watersports. It is quite common to also find yourself spending time on boats during the weekends, socialising and exploring the islands.

Given Bermuda’s proximity to the US and easy airport accessibility, residents can often jet-set on weekends for city breaks.

Weather

Bermuda has subtropical weather, with summer months (May-October) ranging between 24-30°C, and winter (November-April) generally around 20°C. Rainfall is evenly spread out throughout the year, although some months can be slightly wetter.

Hurricanes can impact Bermuda, however the islands are less prone than the Caribbean region.

Fun fact: Bermuda sees 1130 more hours of sunlight per year than London!

Accommodation

As a general guideline, a two-bedroom furnished house in a convenient area can range between $3-6,000. Law firms take these costs into account when setting salary bindings, and lawyers tend to live very comfortably in Bermuda. Law firms also usually assist with property searches to make the relocation process as streamlined as possible.

Remuneration

Salaries for an average 5 PQE Associate in Bermuda can range from $140,000 to $190,000, as well as sizeable annual bonuses, health benefits, relocation allowances and temporary accommodation upon arrival.

Employees pay a flat rate of 6% payroll tax (rather than income tax), meaning lawyers’ net remuneration is often greater than their onshore counterparts.

Work Permits

All non-Bermudians who wish to work and live in Bermuda need a permit. Lawyers must hold a Commonwealth qualification to practice Bermudian law and need at least three years of post-qualified experience before applying. A legal spouse can be listed as a dependent on their partner’s work permit to live on the island. Unmarried partners are not allowed to reside in Bermuda without having their own job and permit.

Admission

In order to qualify for admission in Bermuda, you must work in the jurisdiction as a Registered Associate for one year. There are no examinations, and admission thereafter is a straightforward process.

For more information about legal jobs in Bermuda, contact payam@theagency.ky

Fort 51, Floor 2
51 Fort Street, George Town
PO BOX 712, Grand Cayman
Cayman Islands, KY1-1107

hello@theagency.legal
+1 345 743 1777