IMPORTANT INFORMATION FOR INTERNATIONAL BUYERS
There are several categories of residential real estate in Bermuda: that which only Bermudians, PRC’s and Belongers may purchase and that which is also available to international buyers.
The regulations and requirements for international buyers are complex. It is crucial to work with seasoned experts who specialize in helping international buyers navigate the Bermuda regulatory maze surrounding non-resident purchases to avoid unexpected costs, delays, and disappointments.
Coldwell Banker Bermuda Realty is well positioned to assist international buyers due to their local experience and extensive global luxury. Just complete the form at the bottom of this page to schedule a free confidential consultation with one of our international specialists.
Effective 1st March 2021
- Leasehold condominiums are now NOT available to overseas buyers unless the buyer already has a Residential Certificate or if the condominium is located in a Government approved resort residential development.
- If an overseas buyer wishes to purchase a leasehold condominium outside of a resort residential development effective 1st March 2021, they must invest $2.5M in order to trigger the process. An application will have to be made for an Economic Investment Certificate and a Residential Certificate will be granted in 5 years at which time they can purchase a leasehold condominium located outside of a Government legislated resort residential development, subject to ARV threshold policy .
- At five years, the holder of an EIC would be eligible to apply to The Minister responsible for immigration for the right to reside indefinitely in Bermuda. If successful, a Residential certificate will be granted by the Minister.
- The cost of a License to Acquire varies depending on the type of property you wish to purchase. The license application fee is currently $1,706 (refundable upon license approval). Fees are set at the following rates:
12.5% for a residential home
8% for a condominium
6.5% for a property within a hotel development
6% for PRC Purchasers
NOTE: all the properties shown below are available to qualified international buyers.
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