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Loss of hotel connection is reason for condo eligibility change

Government’s decision to add to the number of condominiums available to restricted persons was based on the fact that the units were no longer associated with a hotel.More than 500 condominiums are now eligible to be sold to non-Bermudians.Opposition MP Trevor Moniz said the list added to the “magic dozen” which have previously been eligible. The new condos include units at Surfside, Mermaid Beach/The Breakers, Palmetto Hotel and Cottages and Pink Beach Club.Minister Michael Weeks, said the additional 43 units, used to be classified as tourist accommodation, meaning people were restricted in how long they could reside in them.“When these units were approved, they were associated with a hotel and fell within the then policy regarding tourist accommodation,” he said.“Recently the Minister for Immigration received appeals from various developments to change the designation of specified units from tourist accommodations to hotel residences in order to allow owners who had purchased when the law allowed them to remain in occupancy indefinitely to continue to do so.“Upon examination of the properties, it was determined that not all of the subject units could properly be designated as a hotel residence because there was no association with a hotel as required by the current law. It was however, permissible for those units which were not hotel residences to be designated as eligible condominium units.”The difference between a hotel residence and a tourist accommodation is that people in tourist accommodations can only stay in Bermuda for 90 days. Owners of hotel residences can live year round if they are Bermudian, permanent residents or have the Minster’s permission.Mr Weeks added: “We are but 21-square miles small; it is not unreasonable to formulate a legislative framework designed to preserve the majority of our land for ownership by individuals who possess Bermudian status.”Mr Weeks said the land holding policy was currently being reviewed to determine what, if anything could be done to stimulate economic growth.