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International Purchaser/Permanent Resident Certificate Holders

Please note the following guidelines and procedures with regard to the purchase of property in Bermuda by international purchasers or permanent resident certificate holders.



Non-Bermudians (International Purchasers) or Permanent Resident Holders (allowed permanent residency but not citizenship) may only purchase property that is qualified by a minimum Annual Rental Value (“ARV”).


The ARV is used to determine land tax and is not necessarily a reflection of market value.


The minimum ARV for houses is $177,000 and $32,400 for condominiums. In addition, condominiums available to Non-Bermudian purchasers must be in “designated developments”.


The effect of these guidelines means that only the highest valued properties are available for Non-Bermudian purchasers.


Homes with a qualifying Annual Rental Value start in the price range of $3.5 million for homes and condominiums start at around $800,000.



Non-Bermudian purchasers must obtain a license from the Minister of Labour and Home Affairs. Their application is made through an attorney of their choosing. License fees are 8% of the purchase price of a house and 6% for a condominium. Current License Fees will increase as of September 30, 2015 to 12.5% for a house and 8% for a condominium. All properties within a designated resort development are 6.5%.


License fees for Permanent Resident Certificate Holders (“PRC”) purchasers will be 4% for a house and a condominium. The License Fee will increase as of September 30, 2015 to 6%.


Applicants are required to provide a banker’s reference and personal references (preferably Bermudian if possible).


The license application fee (which is refunded when the license is granted) is currently $1,416.



Government has approved Non-Bermudian purchasing by application in Trust subject to (a) locally licensed Trustee, (b) limited to one generation and (c) after death, the property must be sold within 2 years.



Generally, a non-Bermudian will not be permitted to own more than one residential property at any one time. A non-Bermudian will be permitted to purchase a second property on the condition that he/she disposes of the original property within twelve (12) months.

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