Bermuda Real Estate

U.S. Department of State [Read More]

Tips for Travelers to the Caribbean

May 1997 Foreword Since colonial times, the Caribbean has been a favorite place for American visitors. In the past 50 years, tourism to the area has increased greatly, and today millions of U.S. citizens visit the islands every year. The majority of these visitors have a safe trip. To help you have a similar experience, the Department of State's Bureau of Consular Affairs has prepared these tips for you. Consular Affairs provides services to Americans ... [Read More]

Fiji

U.S. citizens should be aware of the risks inherent in purchasing real estate in Fiji, and should exercise caution before entering into any form of commitment to invest in property there.  Investors must recognize the need to obtain authoritative information and to hire competent Fijian legal counsel when contemplating any real estate investment.  Fijian law and practices regarding real estate differ substantially from those in the United States. ... [Read More]

Honduras

Real Estate Investment:  U.S. citizens should exercise extreme caution before entering into any form of commitment to invest in property, particularly in coastal areas and the Bay Islands.  Honduran laws and practices regarding real estate differ substantially from those in the United States, and there are many cases of fraudulent deeds and titles.  In addition, the Honduran judicial system is weak and inefficient, often prolonging disputed cases for many years before resolution.  Approximately 80% of the privately held land in the country is untitled.  Americans have spent thousands of dollars in legal fees and years of frustration in trying to resolve property disputes, even in cases in which local attorneys and Honduran and U.S. real estate agents had given assurances to the investor.&nb ... [Read More]

Aruba

Potential investors should be aware that failed land development schemes involving time-share investments can result in financial losses. Interested investors may wish to seek professional advice regarding investments involving land development projects. Real estate investment problems that reach local courts are rarely settled in favor of foreign investors. ... [Read More]

Costa Rica

Irregular Land Registrations: Due to irregular enforcement of property laws, investors should exercise extreme caution before investing in real estate. There is a long history of investment and real estate scams and frauds perpetrated against U.S. citizens and other international visitors. There have been numerous instances of duly registered properties reverting to previously unknown owners who have shown they possess clear title and parallel registration. ... [Read More]

Tips for Business Travelers to Nigeria

Crude Oil: The operator claims to have an allocation of crude oil to sell you - cheap. Sometimes, the operator claims to be working on behalf of the Nigerian National Petroleum Corporation. Then come demands for various fees to supply you with the crude; of course, you never get your cargo. The Crude Oil Marketing Division of the NNPC is the only authorized seller of the Corporation's crude. Businesses lacking experience with Nigeria's petroleum industry should approach with great caution any proposal involving crude oil sales. Business Opportunity: The operator convinces you to explore a business opportunity by visiting Nig ... [Read More]

Tips for Americans Residing Abroad

Foreign Country Taxes If you earn any income while you are overseas, you may be required to pay tax on that income.  You should check the rules and regulations with that country’s Embassy or Consulate before you leave the United States, or consult the nearest U.S. Embassy or Consulate. Bank Accounts [Read More]

US Department Of State Post Report

The influx of expatriate employees has had a physical impact on this small island, raising the issue of sustainable development. One Bermuda government report predicts that there will be a further 6,000 jobs created here by 2010.  With virtually full employment in Bermuda and declining birth rates, it is probable that non-Bermudians will be needed in greater numbers to supplement the local workforce, which in turn would most likely result in a population increase greater than the number of new jobs. The labor minister has pointed out that for every two work permit holders, there are one and one-half dependents. Among the problems already plaguing Bermuda - and bound to worsen - as a result of an increasing population are traffic congestion, escalating real estate costs, housing shortages, private school waiting lists, and increasingly frequent tension between Bermudians and the outsiders who have come to live and work on the island. ... [Read More]

Bermuda (10/04)

GDP (nominal): Provisional estimates for 2002, $3.75 billion; 15.8% ($593.2 million) from international companies, 12.9% ($484 million) from real estate and rental, 12.6% ($470.8 million) from financial intermediation, 9.4% ($351.5 million) from wholesale, retail trade and repair services, 6.3% ($237.7 million) from the hotel and restaurant sector, 6.1% ($230.5 million) from construction, and 36.9% ($1.38 billion) from other sectors. ...

Duty on imports is a major source of revenue for the Government of Bermuda. In 2003-04, the government obtained $187.1 million, or 27%, of its revenue base from imports. Heavy importation duties are reflected in retail prices. Even though import duties are high, wages have kept up for the most part with the cost of living, and poverty--by U.S. standards--appears to be practically nonexistent. Although Bermuda imposes no income, sales, or profit taxes, it does levy a real estate tax. ... [Read More]