BERMUDA Law and Practice Contributed by: E Scott Swainson, Katrina Dickson and Erik Gotfredsen, Wakefield Quin Limited
Wakefield Quin Limited Ground Floor Victoria Place
31 Victoria Street City of Hamilton Bermuda
Tel: +1 441 494 4000 Fax: +1 441 494 4111 Email: info@wq.bm Web: www.wq.bm
1. General 1.1 Main Sources of Law Founding Principles
Sources Much of this core legislation is amended from time to time, with consolidated versions avail - able at Bermuda Laws Online. 1.2 Main Market Trends and Deals Trends in Tourism There has been increased interest in tourism- linked products, with record-breaking sales of hotel residence units at the Rosewood, Bermuda resort and the recent sales and impending devel - opments at the Southampton Princess resort and the Elbow Beach resort, and by the ben - eficial owners of other resort properties already There has also been increasing willingness on the part of the Bermuda government to fos - ter international investor links to Bermuda via property holdings, as shown by the Economic Investment Residential Certificate Policy, which was implemented on 31 March 2023 for those willing to invest a minimum of USD2.5 million in a range of qualifying investments (including real property), giving rise to residency and business opportunities. present in Bermuda. Legislative Trends
Bermuda’s real estate law is derived from local legislation and case law. Case law is often derived from English common law (prior to the codification thereof in 1925). Primary Legislation The primary relevant legislation in the Islands of Bermuda is: • the Conveyancing Act 1983; • the Bermuda Immigration and Protection Act 1956, and accompanying regulations; • the Land Title Registration Act 2011; • the Stamp Duties Act 1976; • the Condominium Act 1986; • the Companies Act 1981; • the Landlord and Tenant Act 1974; • the Limitation Act 1984; • the Rent Increases (Domestic Premises) Con - trol Act 1978; • the Development and Planning Act 1974; and • the Bermuda Constitution Order 1968.
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