Tourism Investment Act- Application Guidelines

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Tourism investment relief is based on qualifying criteria, and provided in accordance with the scale of relief, specified in

Schedules 1 and 2 respectively, of the Tourism Investment Act 2017. A developer may apply to the Minister responsible

for tourism for a Tourism Investment Order.

Applications should be addressed to the Minister responsible for tourism, with a copy to the Business Development

Manager for Infrastructure at the Bermuda Business Development Agency. The items listed below should form part of

the application.

1. Include the type of tourism product for which ‘Tourism Investment Relief’ is sought under the Tourism Investment

Act 2017:

A. New Hotel

B. Refurbished Hotel

C. New Restaurant

D. Existing Restaurant, or

E. Attraction

2. History of the Tourism Product [development].

3. Biographical details of the developer/owner.

4. Objectives of the development.

5. Verification that the developer owns the land (freehold or leasehold, if leasehold – how many years), and

confirmation of the zoning of land.

6. Provide in detail the timing of each project phase by date and the estimated date the project will be fully completed.

7. Total value of the financial investment to be committed.

8. The projected development costs which have a direct impact on the amount of Customs Duty Relief that is being

sought under a Tourism Investment Order, including the category, cost, shipping and estimated costs of duty

under the Revenue Act 1898, i.e.

Tourism Investment Act 2017 – P olicy Guideline s, Conditions & Pr ocedures 11


Category Cost Shipping Customs Duty

Building Materials




Operational Supplies


If a hotel, does NOT include any full-ownership or residential component of the development, unless, all units/keys are

put back into hotel inventory for at least six months, every year.

9. Map showing the location of the development.

10. Plans and drawings of the project.

11. Special Development Order’ or ‘Environmental Impact Study’ if applicable.

12. Projected financial statements for five years if a hotel; three years if a restaurant; and, one year if a tourism

attraction. Please include Hotel Occupancy Tax if a hotel and Payroll Tax where applicable. Also include, if


Annual Expenditure

Employer’s share of Payroll Tax $

Employee’s share of Payroll Tax $

Hotel Occupancy Tax $

Land Tax $

13. List the estimated savings of Land Holding charges for a Tourist Accommodation or Hotel Residence, if applicable.

14. Provide a five-year estimate of the number of employees—to reflect the number of Bermudian employees and

the number of non-Bermudian employees. Include the number of Bermudians/non-Bermudians employed now

[if a going concern] or the number of prospective Bermudians/non-Bermudians to be employed during the

redevelopment (construction phase) and then the post development or operational phase.

15. Types of training programmes to be offered to Bermudian employees and the number and types of positions that

have been identified for succession planning. These training programmes will be evaluated by the Department

of Workforce Development.

16. Attachments required if applicable:

i. Certificate of Incorporation [company must be a limited liability company]

ii. 114B License, if applicable

iii. 129A License, if applicable

iv. Letter of confirmation that full financing is in place to carry out the committed scope of work of the

development as described in this application.

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