While most Bermuda residences are reserved for Bermudians,
international purchasers are important for Bermuda’s
economy.
International purchasers are typically categorised into the
following sectors:
- Individuals who do not possess
Bermuda status.
- Individuals who do not possess
Bermuda status but hold a permanent resident’s
certificate.
- Bermuda exempted companies.
In each case, they are restricted to purchases of fractionals,
tourist accommodation/hotel residences and higher-end
residences/condominiums.
A higher-end residence is determined by its annual rental value,
the Bermuda Government’s notional valuation designated to
each residence. Currently, a freehold residence requires an ARV of
$126,000 or higher for international purchase. For condominiums,
the required ARV is $25,800 or higher. Bermuda real estate agents
can provide details of higher-end residences and tourist
accommodation/hotel residences available to international
purchasers.
