ELE Properties

Acquisition Of Property In Bermuda

By A Non-Bermudian

The Bermuda Government has established policies relating to property purchases to safeguard our limited land mass by utilizing the Annual Rental Value (A.R.V.) of a property to define the types of properties available to buyers based on their citizenship and Bermuda Immigration Status. The ARV is used to determine land tax and is not necessarily a reflection of market value.


NON-BERMUDIANS may only purchase property valued above a set minimum Annual Rental Value (“ARV”). The minimum ARV for houses is $126,000 and $25,800 for condominiums. *Non-Bermudians must acquire a Residency Certificate to purchase a condominium. However, currently this is not an available option unless it is in a specific hotel tourism designated development OR purchased through the Economic Investment Certificate and the Residential Certificate Policy (EIC). https://www.gov.bm/economic-investment-certificate-and-residential-certificate

This Residency Certificate does not apply for houses. Houses with a qualifying ARV start at approximately $2,500,000 and condominiums at approximately $320,000. ARVs may be viewed on the Department of Land Valuation website www.landvaluation.bm 

As a result of the guidelines only the highest valued properties are available to Non-Bermudian purchasers.

A Non-Bermudian is permitted to own up to 2 properties.

A Non-Bermudian is not permitted to acquire vacant land.

There are situations where a Non-Bermudian is permitted to purchase a house with more than one assessment number upon application. However, the ARV of one of the assessment numbers alone must be above the $126,000 minimum.

Non-Bermudians who purchase property are not able to rent it out for short-term or holiday rentals unless it is in a specific hotel tourism designated development. However, Non-Bermudians may be granted permission to rent their property upon application to the Department of Immigration which is subject to a tax of 7.25%.

Licensing and Fees

Non-Bermudian purchasers must obtain a licence from the Minister of Labour and Home Affairs; their application is made through a local attorney of their choosing. Licence fees 12.5% for houses and 8% for condominium.

Licence Fees for Permanent Resident Certificate Holder (“PRC”) purchasers are 4% of the property purchase price (on April 1, 2019, licence fees are expected to increase to 6%).

The licence fees for a property within a hotel development is at 6.5%.

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

The licence application fee is currently $1,546 (refundable upon licence approval)


The Economic Investment Certificate and the Residential Certificate Policy is designed to stimulate economic activity, create the environment for job creation, and help market Bermuda as a place to reside and do business. The objective of the policy is to fully harness Immigration as one of many tools for creating economic growth for Bermuda while considering our limited space and ensuring that Bermudians fully benefit. 

Investments may be made in one or more investment categories and benefits for investors include residency rights, among other benefits.

For additional information and fees associated with the application please click here. https://www.gov.bm/economic-investment-certificate-and-residential-certificate

A BERMUDIAN OR SPOUSE OF BERMUDIAN is permitted to buy Any property regardless of the A.R.V. designation.


 – Any Property (regardless of A.R.V. designation other than property which has been developed as part of a Government funded scheme)

– Not able to purchase vacant lots of land

A “BELONGER” is a person who “belongs” to Bermuda under the law covers a variety of categories — including Bermudians themselves as well naturalized British Overseas Territories citizens, spouses of Bermudians and BOT (British Overseas Territories) citizens and their children under the age of 18.

– Can purchase any property on the market with some exceptions.

– Belonger is permitted to acquire vacant 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 Belonger is permitted to own up to 2 properties.

Contact us

Please contact us for additional information pertaining to each of the above categories