Bermuda Immigration and Protection (Land-Holding Charges) Regulations 2007

FA E R N AT F TQUO U BERMUDA BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING CHARGES) REGULATIONS 2007 BR 56 / 2007 The Minister responsible for immigration, after consultation with the Minister of Finance, 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) Regulations 2007. Schedule of charges The land-holding charges payable under section 96(2) of the Bermuda Immigration and Protection Act 1956 are set out in the Schedule. The charges in subsection (1) shall be payable to the Accountant General in accordance with these Regulations. Reduction or deferral of charge A hotel developer (as defined in section 2(1) of the Hotels Concession Act 2000) is entitled to a reduction or deferral of a land-holding charge to the extent that that is provided for in an order made under section 4 of that Act. Refund of charge Where a licence has been issued to a restricted person and the licence lapses without the land being conveyed to the licensee, the restricted person may apply to the Minister for a refund of the land-holding charge in respect of that application, setting out the reasons for the application. 1 2 (1) (2) 3 4 (1) 1 BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING CHARGES) REGULATIONS 2007 The Minister shall refer the application to Cabinet to decide whether the charge is to be refunded. (2) 2 BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING CHARGES) REGULATIONS 2007 SCHEDULE (regulation 2) LAND-HOLDING CHARGES Type of restricted person Type of land Means of holding or acquisition of land Charge 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 Any Residential valuation unit that is not a condominium unit Any, other than by devise, inheritance or voluntary conveyance 25% of the value of the land Any Condominium unit that is not tourist accommodation or a hotel residence Any, other than by devise, inheritance or voluntary conveyance 18% of the value of the land Any Tourist accommodation or hotel residence Any, other than by devise, inheritance 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 Any, other than land of a type referred to above Any 5% of the value of the land. [Schedule amended by BR 16/2008 effective 28 March 2008; amended by BR 17/2008 effective 1 April 2008; revoked and replaced by BR 59 / 2010 s. 2 effective 27 August 2010] Made this 22nd day of June, 2007 Minister of Labour and Immigration 3 BERMUDA IMMIGRATION AND PROTECTION (LAND-HOLDING CHARGES) REGULATIONS 2007 [Amended by: BR 16 / 2008 BR 17 / 2008 BR 59 / 2010] 4