BUTTERFIELD EXPEDITES ONBOARDING FOR WORK FROM BERMUDA CERTIFICATE HOLDERS
Hamilton, Bermuda―2 September 2020: In response to the creation of the Work from Bermuda Certificate by The Government of Bermuda, which allows overseas individuals the right to reside in Bermuda for one year as a remote worker, Butterfield has initiated expedited customer onboarding for Work from Bermuda Certificate holders. This will allow approved applicants in receipt of a Certificate to open a new Butterfield account without valid address verification documentation.
Michael Neff, Managing Director of Butterfield’s Bermuda operations said, “Due to the Government’s swift five-business-day turnaround for the application process, it is unlikely that an approved individual will have secured a valid Bermuda address verification document when applying for a new Butterfield account. The Bank has responded quickly to support the Government’s initiative and ensure that remote workers have access to their overseas funds as soon as possible, allowing them to secure rental accommodation and transportation, and purchase food and supplies on arrival.
“New customers holding Work from Bermuda Certificates can be onboarded without valid address verification on an exception basis, under the condition that the verification document is provided to Butterfield within three months of the onboarding approval date.”
Work from Bermuda Certificate holders and individuals considering applying can contact Butterfield’s Retail Banking division at (441) 295 1111 or visit the Moving to Bermuda page on our website for more information and to start the account opening process. The following documentation is required:
- Account application form
- Work from Bermuda certificate
- Certified copy of passport
- Source of funds/source of wealth documentation
- Declaration of Tax status
- W-9 for US citizens
Butterfield is a full-service bank and wealth manager headquartered in Hamilton, Bermuda, providing services to clients from Bermuda, the Cayman Islands, Guernsey and Jersey, where our principal banking operations are located, and The Bahamas, Switzerland, Singapore and the United Kingdom, where we offer specialized financial services. Banking services comprise deposit, cash management and lending solutions for individual, business and institutional clients. Wealth management services are composed of trust, private banking, asset management and custody. In Bermuda, the Cayman Islands and Guernsey, we offer both banking and wealth management. In The Bahamas, Singapore and Switzerland, we offer select wealth management services. In the UK, we offer residential property lending. In Jersey, we offer select banking and wealth management services. Butterfield is publicly traded on the New York Stock Exchange (symbol: NTB) and the Bermuda Stock Exchange (symbol: NTB.BH). Further details on the Butterfield Group can be obtained from our website at: www.butterfieldgroup.com