Tourism Investment Act- Application Guidelines
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
1. Include the type of tourism product for which ‘Tourism Investment Relief’ is sought under the Tourism Investment
A. New Hotel
B. Refurbished Hotel
C. New Restaurant
D. Existing Restaurant, or
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
ESTIMATED VALUE OF DUTY RELIEF
Category Cost Shipping Customs Duty
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
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.