New policy on ownership of land by non-Seychellois |04 April 2014

Government has approved a new policy on alienation of land and the management and sale of state land.
A communiqué from the Ministry of Land Use and Housing said that this new policy, which is also accompanied by a new villas policy, comes after the announcement made by government last year to discontinue the sale of freehold land in Seychelles to non-Seychellois.

The new policy is one which provides some flexibility on foreign ownership of land and one which is at the same time conducive to both foreign and domestic investment.
Subject to meeting certain criteria, and sanction being granted, non-Seychellois may be able to acquire freehold land which is held in private ownership only.

Consequently non-Seychellois by law will not be able to purchase state land, save for a few specific exceptions, but may hold such on a long-term lease following an approved development on the land. Non-Seychellois will also not be permitted to purchase state land which has been sold under the land bank programme.  In addition land on all outlying islands will only be held on long-term leases.

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 two years. The IPTR Act will shortly be amended to provide for this.

With effect from April 15, 2014, government will grant an amnesty for a period of 12 months, for all non-Seychellois beneficial owners of immovable property which may have been acquired in the past through nominee companies or Seychellois nationals, to submit an application for sanction to regularise ownership.

Details of these policies and the amnesty can be found on the website of the Ministry of Land Use and Housing.