Property for Sale in the Seychelles
The Seychelles is a group of about 115 islands where are built the world famous luxury and spectacular holiday villas in Seychelles, lie 1,600 km off the coast of East Africa, with a population of about 81,000.
There are superb beaches, and an unspoiled landscape, virgin forest, lots of orchids, bougainvilleas, hibiscuses, gardenias and frangipani, and a profusion of bird species found nowhere else.
Seychelles is outside the cyclone belt so the weather is stable all year round, with an average maximum daily temperature of 29 degrees. There’s no malaria or yellow fever.
Foreigners are allowed to buy residential property, however there are strict conditions to buying property in the Seychelles.
- Overseas buyers must obtain permission from the government before buying property. This is best done by a notary.
- Property purchase by a non-national is processed by the Land Section at the Ministry of Land Use and Habitat and registered at the Registration Office.
- Foreign buyers are required to deposit purchase funds in the Central Bank of Seychelles in foreign currency. This is converted to Seychelles rupees upon withdrawal and used for the property transaction.
- Foreigners can secure residency for a fee of 50,000SR (£3,000), which means that the property won't be subject to CGT once sold.
- A government sanction fee (30 per cent of the transfer value) is payable, but this can be reduced and, in some cases, waived based on the property and location. Fee for processing this: 1.5 per cent.
- Notary fees are 1-2 per cent; transfer fee (stamp duty) is 5 per cent. There is no capital gains tax or inheritance tax.
