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GoldenEye case did not change real estate restrictions, Govt. reminds

The Government moved yesterday to reiterate that a policy banning Bermudians selling homes to foreigners remains in place despite the so-called GoldenEye case.

As reported earlier this month, Alan and Vera Rosa Marshall, the Bermudian owners of the $45 million Tucker?s Town house ?GoldenEye?, have been given the green light by Government to market it internationally.

After a lengthy legal battle that ended up in the Court of Appeal, Minister of Labour and Home Affairs Randy Horton agreed that he would use his discretion under the Immigration and Protection Act 1956 to consider an application by a non-Bermudian to acquire the house despite the banning policy of February 2005.

Mr. and Mrs. Marshall had argued that they could only sell GoldenEye on the international market because no Bermudian was in a position to meet its enormous price tag.

However, the legal case only related to Mr. and Mrs. Marshall, and Premier Alex Scott told afterwards that the ban still stood for others.

A statement on behalf of the Minister yesterday re-stated this position. It pointed out that the Court of Appeal had ordered the ?stay? of an earlier Supreme Court judgment declaring the policy illegal, and so it remains in place.

?My intention introducing the land policy is to provide more land over time for Bermudians,? he said. ?I do not accept that anyone has an expectation that overrides our need to constantly review or change policies to meet the growing need of the Bermuda public to have access to affordable property.? understands that a buyer has not yet been found for GoldenEye.