Alienation of Land and Management and Sale of State Land
1. Land Alienation
1.1 Government will continue to consider applications for Sanction by Non- Seychellois for both purchase and lease of immovable property and or rights therein in respect of immovable property and or rights therein held in private ownership viz:
1.2 Government may impose any conditions it deems appropriate on the grant of sanction as is presently the case.
1.3 Where land is purchased or leased by a Non-Seychellois corporate entity, the condition of sanction shall make it explicitly clear that any subsequent transfer or dealings with the shares of the corporate body or the overseas or IBC holding entity will require sanction from the Government, such sanction to be granted in line with prevailing policies on ownership or lease of ongoing business concerns. (e.g.: the tourism sector where ownership of small tourism establishments of 15 rooms or less are exclusively reserved for Seychellois only).
2 Fees and Taxes
2.1 The following fees and taxes will be payable on the transaction:
2.2 Sanction Duty will not be payable in the case of:
2.3 Condominium Development
3. Amnesty For Past Transactions
3.1 With effect from 15th April 2014 Government will grant an amnesty for a period of 12 months ending 14th April 2015 for all Non-Seychellois beneficial owners of land or immovable property, which may have been acquired in the past, through nominee companies or Seychellois Nationals fronting there for, and by way of transfer of shares in overseas holding companies to submit an application for Sanction to regularize ownership.
3.2 No other taxes will be levied on the regularization from Nominee to the beneficial owner other than the normal current applicable taxes i.e.
3.3 Failure to regularize will result in appropriate legal action being taken under the IPTR Act which may result in conviction and forfeiture of the property to the State
4. Removal of Restriction on Short Tenancies
4.1 In keeping with improving the “Ease Of Doing Business” in Seychelles the current mandatory requirement under the Immovable property (Transfer Restriction) Act for Non-Seychellois to apply for and obtain sanction to occupy and or rent business premises will be dispensed with altogether on tenancies and leases of a maximum duration of 2 years.
4.2 This will be subject however to the Lessee submitting a certified true copy of the tenancy agreement as well as a certified true copy of the Lessee’s passport details with the contact details of the certifying Notary or Attorney to the Ministry of Land Use and Housing. In the case of a corporate body the Lessee must submit a written declaration of the identity of the natural person(s) who are the ultimate beneficial owner(s) of the corporate body and submit certified true copies of the passport details of the ultimate beneficial owner(s) and of at least 2 directors of the corporate body with the contact details of the certifying Notary or Attorney..
5. Management and Sale of State Land
5.1 No State Land is to be transferred freehold to any Non-Seychellois by Law except in the following circumstances, where Government considers that it is in the national interest for State Land to be transferred on a freehold basis:
5.2 State Land can also be transferred freehold to Non-Seychellois:
5.3 All State land to be sold for residential purposes to eligible Seychellois either through land bank schemes or otherwise will be transferred freehold to the applicant subject to an option of first refusal in favour of the State i.e. buyback by the State for a period of 15 years.
5.4 All state land leased to Seychellois or Non-Seychellois corporate entities for commercial purposes should in addition to development covenants and applicable project implementation time frames, contain a proviso in the lease that any transfer of shares in the Lessee (where the Lessee is a corporate entity) which amounts to and has the same effect as an assignment of the lease to a third party without approval in writing of the Government will constitute a material breach of the lease, resulting in termination of the lease and the land with or without improvements thereon, being forfeited back to the State