The new 10-year work permit will only be granted under certain conditions, Economy Minister Patrice Minors reiterated on Friday.Companies with a significant presence in Bermuda, a staffing level of at least 20, 50 percent of which must be Bermudian, which provide entry level positions to young Bermudians and equal payments and benefits to Bermudians and non-Bermudians will be able to apply for a long-term work permit for some of their workers, the Minister told the House of Assembly.The permit itself will cost $20,000. And it will only be granted in respect of positions which are critical to the continuity of the company in Bermuda, and where the company’s presence in Bermuda depends on the postholder being in Bermuda “or where it can be demonstrated that Bermudians are unlikely to have the qualifications to fill the position and, historically, no Bermudians have applied for the position.”Minister Minors said that Government is “evolving how we strike the balance between work permit holders and the Bermudian workforce.”