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Real Estate Due Diligence in Seychelles

Updated on Friday 16th August 2019

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Real-Estate-Due-Diligence-in-SeychellesSeychelles is an important investment destination, no matter if the investment takes the form of an offshore company or real estate. However, due diligence is a must when making an investment in Seychelles and when it comes to purchasing a property, real estate due diligence becomes very important.

Below, we present you our real estate due diligence services available in Seychelles. With the help of our lawyers in Seychelles, you can have any type of property verified. We can also help with various company formation services in Seychelles.

The main types of real estate due diligence services in Seychelles

There are two types of properties one can acquire in Seychelles according to their use: for personal and for commercial purposes. No matter the type of property one intends to buy, real estate due diligence should be the first thing to consider. Even if it is optional, a verification of a property can help future real estate owners save money on properties not worth investing in.

Here are the main types of real estate due diligence services we can provide you with in Seychelles and which are only some of our legal services here:

  1. cadastral real estate due diligence which implies the verification of a property title with the Land Register in Seychelles;
  2. administrative real estate due diligence which implies checking a property for any encumbrances;
  3. structural or technical due diligence which implies having a property verified by construction specialists;
  4. commercial due diligence which is available for those buying properties for commercial purposes which require more extensive verifications;
  5. environmental real estate due diligence through which the impact on the environment is assessed.

The last type of real estate due diligence is not mandatory, however, the number of homeowners requesting such verifications has increased substantially in Seychelles.

Our local advisors can assist with both residential and commercial real estate due diligence procedures which must be completed with the Seychelles Land Register.

As mentioned above, if you want to invest by setting up an offshore company in Seychelles, we can also assist with that.

Land Register verification of a property in Seychelles

The real estate due diligence must start with the Land Register which holds information on all types of properties in Seychelles. The information which can be found with the Land Register refers to the previous owners of the property, if there are any encumbrances, such as unpaid mortgages on the real estate to be bought, and even if there are any litigations over the property. This information is very important when deciding to buy a property in Seychelles, as it can help the buyer determine if the process will go easy or not.

Any unpaid taxes or other burdens on a property will also show up in the real estate due diligence report.

Our lawyers in Seychelles can have a property verified with the Land Register prior to the arrival of the buyer.

Technical real estate due diligence in Seychelles

Our company registration consultants in Seychelles can help foreign investors interested in setting up companies here find specialists who can assess a construction to be used for commercial purposes, if the investor wants to buy an existing building instead of a new construction. For this, technical real estate due diligence is available alongside the Land Register verification.

If you are interested in Seychelles company formation, our local specialists are at your disposal.

Why is real estate due diligence important in Seychelles?

As mentioned above, a real estate due diligence report is not mandatory, being the future owner’s choice to have a property verified. However, a buyer should first consider the investment to be made in a property is quite significant and implies a rather large amount of money which is why making sure the property is encumbrances and litigation-free should be important.

Most of the times, a Land Register verification is sufficient to know if a property is worth purchased or not, while in the case of commercial real estate due diligence, foreign investors should order more extensive reports.

If you decide for real estate due diligence in Seychelles, our lawyers are at your disposal.

Why buy a property in Seychelles?

Seychelles is one of the most appealing countries to own a property in the Indian Ocean, however, foreign citizens should know that:

  • - between 2006 and 2014, real estate prices have increased by 10% on annual basis on Eden Island;
  • - Praslin is Seychelles’ largest island, and property prices here are 20% higher than in the country’s capital;
  • - foreign citizens can obtain residency in Seychelles by purchasing a property here against a security of 1 to 2 million SCR;
  • - the stamp duty to be paid when buying real estate in Seychelles is 5% of the property’s value.

For real estate due diligence and assistance in buying a property in Seychelles, please contact us.

 

 

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Call us now at +248 4321018 to set up an appointment with our business consultants in Victoria, Seychelles. Alternatively you can incorporate your company without traveling to Seychelles.

As a Valsen Fiduciaries client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Seychelles.

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