This Act concerns restrictions on sales and leases of immovable property to persons who are not citizens of the Seychelles. Lease or purchase by a non-citizen requires permission of the Minister. In considering such permission, the Minister shall take into consideration specified criteria including if purchase is in the interest of Seychelles. A transaction carried out without the sanction of the Minister shall be unlawful and void and rights that were subject of the transaction shall be forfeited to the Republic. The Act also sets out certain clauses that shall be included in a lease or sale and purchase agreement.
Implemented by: Immovable Property (Transfer Restriction) Fees Regulations (Cap. 95). (2014-06-30)
Authors and Publishers
Rudolph Hupperts (CONSLEGB)
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