Regional Information - Foreign Ownership > Bermuda, Caribbean

Feature Island

Regional Information

Bermuda was settled in the 1600s by shipwrecked colonists headed for Virginia. They probably succumbed to the treacherous ring of reef surrounding the island. If you’re going to be marooned, Bermuda ain’t a bad place to land. Since Victorian times, people have fled to Bermuda of their own free will to avoid winter. Tourism continues to be an important part of the island’s economy, but Bermuda’s economy is increasingly led by financially savvy international businesses. Demand for private islands exceeds the supply, and when property becomes available, the price is decidedly upscale. The Bermuda Government also regulates property sales to international purchasers in an effort to protect the balance of foreign ownership on the island.

Bermuda, Caribbean

Foreign Ownership of Islands in Bermuda, Caribbean

Buying one of Bermuda’s 120 or so private islands requires very deep pockets and a great deal of luck; demand exceeds supply by a great margin and private islands in Bermuda don’t often come onto the market. The odds of a foreigner owning an island in Bermuda are further slimmed by the Bermudan government’s tough laws meant to keep Bermuda in the hands of Bermudans. A recent policy states that any property sold to a non-Bermudan must already be owned by a non-Bermudan. Locals are not allowed to sell to foreign buyers.

If the stars align and you find a private island for sale in Bermuda, you must apply for a License to Acquire Property. This license costs 22% of the property value, if it’s granted. The review process is designed to determine that you are financially independent, and that you are not an 'undesirable' person. Personal and financial references will be required, and some research will be conducted.

Acquiring property in Bermuda will not entitle you to Bermudan citizenship. Nor does it entitle you to work in Bermuda. The rules about working on Bermuda are as strict as the rules about owning property and there are no exceptions for foreign landowners. If you want to rent your property out, you will need permission from the Minister of Labour, Home Affairs and Public Safety. The law states that foreigners cannot use their property for anything but personal enjoyment. The Bermuda Immigration and Protection Act of 1956 limits the amount of land that foreigners can own in Bermuda to 2,000 acres.

Regional Statistics for Bermuda, Caribbean

Location:: North America, group of islands in the North Atlantic Ocean, east of South Carolina (US)
Population:: 65,773
Languages:: English (official), Portuguese
Capital:: Hamilton
Currency:: Bermuda dollar
Climate:: mild, humid; gales, strong winds common in winter
Temperature Range:: +5 to +30
Terrain:: low hills separated by fertile depressions
Natural Hazards:: hurricanes (June to November)