Bermuda Property Transactions
Whether property owners are individuals that intend to take up residence in Bermuda or development companies seeking to develop a condominium property or hotel, you will find that Apex Law Group Ltd. understands and has the relevant expertise needed to meet client requirements at each stage of a transaction. Our firm has extensive experience dealing with all aspects of property transactions, both residential and commercial. Our clients include individuals and corporate entities that wish to purchase or sell Bermuda property, as well as financial institutions that provide mortgages and project financing for the purchase or sale of Bermuda property.
Our legal team has acted for clients that are sellers, purchasers and lenders. Staff have in-depth knowledge of the processes and procedures required in each step of a conveyance of Bermuda property, including acting for exempted companies that wish to purchase or lease Bermuda property for their island office requirements.
Whether a client is a first-time purchaser or sophisticated developer, Apex Law Group Ltd. can work with them throughout the process of purchasing Bermuda property, to ensure that a conveyance is handled efficiently and the client’s interest is protected at all times. Special Immigration Rules apply to non-Bermudian purchasers of residential property. Upon request, we are able to provide a detailed Memorandum on the issue of Foreign Ownership of Bermuda Property.
Our firm has handled nearly every type of financing, purchase, sale and lease transaction for a wide range of commercial developments in Bermuda, including the development of condominiums, offices, retail stores and warehouse facilities.
Our services include representing lenders in loan transactions and assisting owners with tendering for government contracts, structuring bonding requirements, financing, securing mortgages, obtaining planning permissions and drafting construction contracts.
Many of the commercial developments in Bermuda involve a joint-venture local company in which the Bermudian shareholder holds 60% of the shares and the non-Bermudian shareholder holds not more than 40% of the shares. Bermuda law requires that ‘local companies’ must be controlled by Bermudians and control is defined in said Act to be not less than 60% of the share ownership and 60% of the Directors.
For further information on the scope of our firm’s services on Bermuda Property, including Foreign Ownership of Bermuda Property, please contact us.