ARTICLE · 07 MARCH 2013

Government’s New Rules For Property Licences Explained

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Government’s recent Budget included plans to reduce Property Licence fees.

BermudaWealth Management

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Government's recent Budget included plans to reduce Property Licence ("Licence") fees.

Combined with recent market corrections, this represents an excellent opportunity for non-Bermudians -- including Permanent Resident Certificate (PRC) holders -- to acquire a home in Bermuda. It is hoped that such opportunities for non-Bermudians will translate into an improved economy for Bermudians.

A License is required to acquire land in Bermuda unless you are on the Register of Bermudians or are a local company with Government approval to do so.

Land in Bermuda is widely defined to include "land ... and any building erected on land and any estate, interest, right or easement in, over or under any land or building".

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