Bermuda has committed itself to implementing and maintaining a robust framework to combat money laundering and terrorist financing. At the core of Bermuda’s fight against money laundering (ML) and terrorist financing (TF) is being cognizant of the ML/TF risks associated with the various business sectors such as real estate.
In furtherance of the on-going assessment of Bermuda’s ML/TF risk, the Superintendent of Real Estate (the “Superintendent”) has exercised his right as the competent authority with supervisory duties over real estate brokers in Bermuda to require that brokers provide such information as is specified in the Annual Statistical Return. See Regulation 16 of the Proceeds of Crime (Supervision and Enforcement) Act 2008.
- Extended to 15 March 2019 (for brokers who have engaged in sales and purchase transactions)
- (for brokers who have engaged in only rental transactions from 1 September 2016 to the date of submission)