Real estate and land
in the Seychelles
The Seychelles traditionally attract Russian travelers as a great place for outdoor activities: fishing, diving, yachts. A respectable environment, a small population (80,000 people), the absence of crime and radical social groups create all the conditions for a calm and measured life and recreation. But not only rest attracts our fellow citizens in the Seychelles. Many Russians buy real estate, and mostly villas. What is the reason? After all, the Seychelles are at a considerable distance from Russia - 8 hours of summer. There are several prerequisites for this:
Firstly, many of those of our fellow citizens who have the Seychelles as one of their annual vacation spots cannot always plan in advance the time of their vacation or the time of vacation of their family members. And in this case, it is not always possible to book a hotel room, the level of service in which meets the high requirements of the applicant. At the same time, the number of first-class private villas for rent is also limited.
Secondly, travels are especially interesting if you go on them with a large company, with friends, but the modern rhythm of life, as well as the unpredictability of the own plans of all participants in such a company, do not always allow you to book a sufficient number of rooms in one hotel. The same considerations apply to yachts offered for charter in the Seychelles. And the purchase of your own yacht implies the inevitable worries about storage and service. In many cottage settlements, yacht parking and maintenance is part of the management company's services.
Thirdly, social factors are an important factor for choosing resort real estate. The Republic of Seychelles is an independent state with a parliamentary form of government. The only official religion is Catholicism. Indians are used as guest workers, and people from Arab countries are very wealthy members of the ruling families and businessmen. The bulk of immigrants are residents of Europe and the United States.
And, finally, some considerations become very relevant in the light of recent changes in the Earth's climate. The Seychelles are the only completely granite islands in the world, which makes them very resistant to the elements. Geotectonic faults and areas prone to earthquakes are located at a distance of several hundred kilometers from the Seychelles. In addition, the depth of coastal waters is insignificant (up to 30 m) at a distance of several kilometers from the coast, that is, the islands stand, as it were, on a massive pillow of rocks, which does not allow the Indian Ocean tsunami to have a detrimental effect on the coastal and island buildings of the Seychelles.
The cost of real estate is from 2 million US dollars for a villa and from 0.5 million dollars for apartments. Real estate, incl. Houses and land plots are registered in the property. It is possible to build according to your project. There are also several offers for the sale of entire islands (from 35 million USD)
The financial law and the banking system on the islands are very liberal towards foreign investors and can agree on various forms and types of payments.
Buying property in the Seychelles
The purchase of real estate for foreigners requires permission from the Government of the Republic of Seychelles. Such a permit is issued within 3-9 months. However, in cottage villages (presented on our website) such a permit is already provided for in the design, approval and construction of cottage villages. Thus, when buying houses with plots in such cottage settlements, the transaction is completed as soon as possible.
When buying real estate by foreigners, it is necessary to pay 17.5% of the assessed value of the property (1.5% transaction fee, 5% stamp duty, 11% fee for obtaining a permit for the purchase of real estate by foreigners). The transaction is executed at the notary, the notary also checks the availability of permission for the purchase of real estate by foreigners. Real estate can also be transferred to a long-term lease (97 years). In this case, the amount of fees is less than 17.5%: for example, in the village of Zil Pasyon, fees are 10% of the assessed value of the property.
The financial system of the Republic of Seychelles is liberal - there are no: capital gains tax, inheritance tax, annual property tax, VAT in real estate purchase and sale transactions.
Islands
In the Seychelles archipelago, there is the possibility of buying entire islands with ready-made infrastructure or for the purpose of subsequent construction. There are no such offers on the open market, and the transaction usually occurs after an offer is made to the owner to buy for a specific price. We are ready to consider applications for the purchase of the islands, conduct initial negotiations, prepare a deal and carry out legal registration. We also have information on potential objects.
Legal registration:
Type of right - property or long-term lease.
Obtaining permission from the Government of the Republic of Seychelles: required
The term for obtaining such a permit: up to 3 months.
Further use:
A. Purchase of an island with existing buildings and infrastructure (hotels, cottage settlements in various stages of construction, after obtaining a building permit and all approvals): operation, completion of construction, sale of finished objects or short-term / long-term lease
B. Buying an island without buildings and infrastructure.
B1: Construction of an estate for individual residence: Coordination of architectural and planning solutions and the general plan of development in the Ministry of Ecology, in the Ministry of Urban Development, construction supervision by a licensed local architect, registration of ownership.
B2: Construction of a hotel or a cottage village: Development of a project memorandum, coordination of architectural and planning decisions and a master plan for development in the Ministry of National Development, the Cabinet of Ministers, the Ministry of Finance, the Ministry of Ecology. in the Ministry of Urban Development, holding public hearings (if the island is within the territory of the municipality) control over construction by a licensed local architect, registration of ownership.