Steps to Register a Property in Seychelles

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Procedure

Time to Complete Associated Costs
1

Conduct a title search

Parties verify that the title is free from encumbrances by conducting a search at one of the registries. Mahe has two registries: one for old and one for new land. The search in the new registry is done by parcel number. If wanted, a certificate of official search can be obtained for Rps 50 in 1-3 days. However, this is not necessary for registration.

Agency: Property Registry

1 day 10 rps
2

Notary drafts and legalizes sale purchase agreement

A notary is required by law to conduct this procedure. Parties make an appointment one day and usually visit the following day. Prior to the sales agreement, the buyer needs to grant (by resolution of the Board of Directors) a director or other representative the authority to buy the land at the agreed price, on behalf of the company. The seller has to do the same. Standard transfer agreements can be found in the Land Registration Act.

2 days up to 2% property value
3

Deposit sales agreement with Stamp Duty Commission (property registry)

The notary deposits 3 original copies (one each for seller, buyer and notary). The documents have to be submitted within 1 month after execution of the contract. If not, a validating duty (double of stamp duty, i.e. 10%) is charged. At the registry, the parcel number is checked and the stamp duty calculated (5% of property value) and approved. After a senior filing registrar has reviewed the documents and value, the file is sent to the Registrar for review and approval. If there is any doubt about the accuracy of the value, which may happen in about 40% of cases, the documents are sent to the evaluation office at the Lands Office. The valuation office would subsequently re-assess the property value and transfer the documents back to the Registrar. The surveying and valuation takes on average 1-2 months. Once the Registrar has approved, the notary returns for payment. He is either informed by phone or checks independently.

Agency: Stamp Duty Commission, Property registry

5 days no cost
4

Pay registration fees to Stamp Duty Commission and register property title

Once the stamp duty and fees are paid, the transfer is registered (‘presentation of documents’) and the documents stamped. The Registrar approves the transfer by signature and the document is returned to the land section for dispatch. The legal time limit for registration (including approval of stamping) is 1 month, and it practice takes slightly less time.

Agency: Stamp Duty Commission, Property registry

25 days 5% property value + 25 rps (Registration Fee)
 

Description

Listed on the left is a detailed summary of the steps, time and cost involved in registering property, assuming a standardized case of an entrepreneur who wants to purchase land and a building that is already registered and free of title dispute.