Bermuda Immigration and Protection (Land- Holding Charges) Amendment Regulations 2013 (BR 28/2013)

FA E R N AT F TQUO U BERMUDA BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING CHARGES) AMENDMENT REGULATIONS 2013 BR 28 / 2013 The Minister responsible for immigration, in exercise of the powers conferred by section 102C(1)(a) of the Bermuda Immigration and Protection Act 1956, makes the following Regulations: Citation These Regulations may be cited as the Bermuda Immigration and Protection (Land Holding Charges) Amendment Regulations 2013. Amends Schedule The Schedule to the Bermuda Immigration and Protection (Land-Holding Charges) Regulations 2007 is revoked and replaced by the following— “SCHEDULE (regulation 2) LAND-HOLDING CHARGES In this Schedule, “the statutory period” means the period of 18 months beginning on 1 April 2013 and ending on 30 September 2014. Type of restricted person Type of land Means of holding or acquisition of land Charge 1 2 1 BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING CHARGES) AMENDMENT REGULATIONS 2013 Spouse of Bermudian Residential valuation unit Jointly with Bermudian spouse Nil Spouse, Child or Parent of Bermudian Any Land held by Bermudian by any means; restricted person has an equitable right in land Nil Permanent resident Residential valuation unit that is not a condominium unit Any, other than by devise, inheritance or voluntary conveyance (a) during the statutory period, 4% of the value of the land (b) after the expiry of the statutory period, 6% of the value of the land Condominium unit that is not tourist accommodation or a hotel residence Any, other than by devise, inheritance or voluntary conveyance (a) during the statutory period, 4% of the value of the land (b) after the expiry of the statutory period, 6% of the value of the land Any, other than Spouse, Child or Parent of Bermudian, or Permanent resident Residential valuation unit that is not a condominium unit Any, other than by devise, inheritance or voluntary conveyance (a) during the statutory period, 8% of the value of the land (b) after the expiry of the statutory period, 12.5% of the value of the land Condominium unit that is not tourist accommodation or a hotel residence Any, other than by devise, inheritance or voluntary conveyance (a) during the statutory period, 6% of the value of the land (b) after the expiry of the statutory period, 8% of the value of the land Any, other than Spouse, Child or Parent of Bermudian Tourist accommodation or hotel residence Any, other than by devise, inheritance 2 BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING CHARGES) AMENDMENT REGULATIONS 2013 or voluntary conveyance (a) election to place on hotel inventory 0% of the value of the land (b) election to keep for private use 6.5% of the value of the land Any, other than land of a specific type referred to above Any 5% of the value of the land. ”. Made this 26th day of March 2013 Minister of Home Affairs 3