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Bermuda International Purchaser Property Ownership

You have taken the first step to home ownership in Bermuda, simply by making the initial inquiry for additional information and knowledge about the laws and guidelines that govern your purchasing powers. International purchasers have the option of purchasing a house or a condominium, however the guidelines vary slightly depending on your choice of residency in Bermuda. Purchasers of a condo are not eligible to rent it for short term or holiday rentals except if it’s in a specific hospitality tourism designated development. Purchasers of a house are permitted to rent their home upon approval and permission granted. International purchasers are permitted to own a maximum of two properties.

Your selection of available properties for sale to an international purchaser is determined by the ARV of the property. ARV- Refers to the Annual Rental Value of a property determined by the Bermuda Government Department of Land Tax as a guideline for property tax payments by property owners annually.  The property ARV is constant and it does not fluctuate with the market value in the real estate industry.

International Purchasers must obtain a license from the Minister of Labour and Home Affairs. The application is generally processed by a local attorney.  Licensing fees are 12.5 % of the purchase price of a house and 8% for a condominium.  The licensing fees for a property within a hotel development are at 6.5%.  The Bermuda Government has approved Non-Bermudian purchasing by the application in Trust subject to (a) locally licensed Trustee, (b) the sale is limited to one generation and (c) after death, the property must be sold within  2  years.

Guidelines for Bermuda International Purchaser Ownership

A minimum ARV is $126,000 for houses.

Approximate sales price $2.8 million  


A minimum ARV is $25,800 for a condominium.

Approximate sales price $500,000

Additionally, you must acquire a Residency Certificate to purchase a condominium. This certificate is not required for the purchase of a house.

*Work permit holders are not eligible for Residency Certificate


Permanent Resident Certificate Holders (``PRC``) Property Ownership

Permanent Resident Certificate Holders (“PRC”) are able to purchase any property on the market with some exceptions. A PRC may not purchase land, a property that is part of a Government Scheme, and may not rent out a property that they own which has two assessment numbers. A PRC is permitted to own 2 properties.

PRC’s must obtain a license from the Minister of Labour and Home Affairs.  The application is generally processed by a local attorney.  Certificate Holder (“PRC”) purchasers are 6% of the  property  purchase  price.  Applicants are required to provide a banker’s reference and personal references. The license application fee is currently $1,546 (refundable upon license approval).

General Information You Should Know

The costs associated with the conveyance of a property are usually shared equally between the Vendor and the Purchaser. These costs are legal fees for preparation of Conveyance and Stamp Duty payable on the Deed of Transfer. Purchasers are liable their attorney fees incurred for legal advice. See next page for more details about costs. Costs associated with the purchase of property are outlined below:


A deposit  of  10%  of  purchase  price  is  payable  upon  signing  sale  and purchase agreements.


Deposit is held  in  escrow  by  Agent  or  Attorney  until  closing.  Interest accrued is for the Purchaser’s benefit. Balance is payable when sale completes.

Stamp Duty

Bermuda Government Stamp Duty is calculated on purchase


First $100,000 is at 2%

Next $400,000 is at 3%

Next $500,000 is at 4%

Next $500,000 ($1,000,000 but not exceeding $1,500,000) is at 6%

Thereafter: 7%

Conveyance Fee

Based on a scale of minimum fees provided by the Bermuda Bar

Association and determined by your legal representative.

Mortgage Fees

Base mortgage fees are calculated on purchase price:

First $100,000 is at 1%

$100,000 -$300,000 is at 0.50%

$300,000 -$500,000 is at 0.25%

Over $500,000 is at 0.125%

We encourage you to contact us to discuss your international property purchase in Bermuda, today.  To arrange a teleconference or property tour on-island please contact Mrs. Robinson, the Sales Broker at our corporate office at 441 232-1609.

Would you like to get started now? Simply click on the link below and completed the attached form.  A member of our sales team will be in contact with you soon.  Thank you for choosing 1609 VIP.EXEC as your international purchasing option.