Foreigners are now allowed to buy land and houses

Moratorium on land sales to non-Seychellois lifted, new regulations introduced

The Cabinet has approved the removal of the moratorium on non-Seychellois purchasing residential properties and introduced updated criteria to govern these transactions. The decision was made during the first Cabinet meeting for the year, which was chaired by President Wavel Ramkalawan on Wednesday, 23 January. It was also discussed in yesterday’s cabinet press briefing with Vice President Ahmed Afif. This move seeks to boost wealth generation, attract foreign direct investment, and enhance government revenue through revised tax measures while maintaining housing affordability for Seychellois citizens. A concern was raised as to whether the removal of the moratorium would drive up the already high property prices. The Vice President explained that he does not believe that this new regulation will increase property prices. “This moratorium was put in place to ensure that land remains affordable for the average Seychellois—especially those with families and ambitions to build their own homes,” Mr. Afif stated. “There are existing cases of Seychellois attempting to sell land to foreigners, if we permit this sale to continue with no control or regulation what soever, then the general price of land would truly spike.”

1. Purchase of Bare Land:

   Non-Seychellois may purchase land parcels ranging from 2,000 to 4,000 square meters at a minimum price of SCR 4,000 per square meter.

   Exceptions may be considered for land slightly exceeding 4,000 square meters, provided valid justification is presented.

   
   

2. Purchase of Residential Houses:

   Non-Seychellois can purchase residential houses, including the land on which they are situated, for a minimum amount of SCR 10 million.

   The land size must range between 1,000 and 4,000 square meters.

   A stamp duty of 18.5% of the property price is applicable.

   
   

3. Permanent Residency Opportunity:

   Non-Seychellois who invest USD 2 million or more in Seychelles become eligible for permanent residency.

Source: Today

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