Ownership & Tax guide in Seychelles

RESIDENCY PERMIT APPLICATIONS:

If you have purchased a property in the Seychelles, you automatically qualify to apply to the Seychelles Government for a Residency Permit.

Application must be made within a period of 90 days from the date of occupation of the
property that has been transferred into your name.

Application may be made in respect of natural persons for up to six co-owners, their spouses and issue; or a legal entity for up to six natural persons nominated and declared by the legal entity as having a beneficial interest therein, together with their spouses and issue.

As the application is open to only six members (and their respective families), the members will have to decide amongst themselves who will apply.

What fees are payable when I make my application for residency?

Professional Fee: USD 1,000;
Processing Fee: SCR 1,000; and
Permit Application Fee: SCR 150,000.

The Professional Fee is payable for compiling the application, uplifting your original documents from the relevant Government Department (where it was submitted for your sanction application) and for uplifting your Transfer Deed from the Land Registry.

The Processing Fee is payable to the Immigration Division for processing the application.

When the application is approved, you are to deposit the SCR 150,000 Permit Application Fee.

In what currency must the fees be paid?

The Professional Fee of USD 1,000 must be paid in US Dollars upfront into a designated
account, details of which will be provided to you.

Foreign individuals and corporate entities can generally purchase privately owned immovable property in Seychelles, subject to obtaining government sanction.

Lifting of Moratorium: In January 2025, the Seychelles government lifted a moratorium on the purchase of residential property by non-Seychellois. This opened new opportunities for foreign investment in the real estate market.

Government Sanction: Foreign buyers must apply for and receive sanction (permission) from the government to purchase property. This process involves submitting an application to the Ministry of Lands and Housing.

Restricted Properties: Non-Seychellois are prohibited from purchasing:

Freehold immovable property owned by the State (with some specific exceptions, such as under the Villas Policy or conversion of leasehold to freehold for condominium property). However, they can hold such property on a long-term lease following an approved development.

Land on any outlying island of Seychelles (only long-term leases are typically available).

Immovable property sold by the State under any government-subsidized Land and Housing Scheme.

Sanction Duty (Tax): A sanction duty is payable by non-Seychellois buyers. The rate is currently 12% of the property's market value.

Due Diligence: All applications are subject to due diligence and must comply with existing land use and tourism regulations.

Villas Policy: This policy specifically addresses the construction and sale of property designed for tourism purposes by non-Seychellois investors. It allows for long-term leases (up to 99 years) on most islands, excluding Mahe, Praslin, La Digue, and Cerf Islands in some cases.

Residency: Foreigners who invest a minimum of USD 2 million in Seychelles may be eligible for permanent residency. Purchasing property can be a pathway to obtaining a Residency Permit.

Immovable Property Tax: Non-Seychellois who own immovable property in Seychelles are subject to an annual Immovable Property Tax, currently at a rate of 0.25% of the market value for residential properties.

Leasehold vs. Freehold: While freehold ownership is possible for privately held land with government sanction, state-owned land and land on outlying islands are typically available only through long-term leases (up to 99 years).