Log In

Reset Password
BERMUDA | RSS PODCAST

Beaten to the punch, again

October 21, 2011Dear Sir,I had previously suggested that wealthy world citizens be invited to make Bermuda their home, for a modest fee that would be used to help pay off the national debt generated almost exclusively by the PLP Government. This option included the possibility of resurrecting the realty, architectural, construction and service businesses. Taking this one step further, few Bermudians can afford to buy million dollar homes any more, so any Bermudian should be permitted to sell property they own, that is valued at over $1 million, to any private overseas citizen for foreign currency. The Government will get a fee for a residency visa and the property sale but more importantly the exercise would create jobs and further income for Government. It will also make the banks happy. Remember we are producing fewer and fewer Bermudians by birth so eventually there will be no Bermudians to sell property to.Like the term limit fiasco, I note that once again another country has beaten Bermuda to an opportunity and picked up on this idea. The United States of America is proposing to offer visas, effectively green cards, to foreigners buying property in the States valued above $500,000.I have complained about the PLP’s exercise programme that includes knee jerks, but opportunity is being lost while they further exercise with burying their heads in the sand in the hope that the financial crisis they created by overspending will resolve itself before the next General election.STILL PREPARED TO SHAREPembroke