Buying property in Seychelles comes with its own vocabulary, from sanction to freehold to stamp duty. Here is a plain-English glossary of the terms you will meet, so nothing in a contract or a government form catches you off guard.
- Sanction
- The formal government approval a non-Seychellois must obtain before buying or leasing property in Seychelles, granted under the Immovable Property (Transfer Restriction) Act. Without it, a foreign purchase cannot be validly registered.
- Sanction duty
- A duty a foreign buyer pays when a sanction is granted. Currently 12 percent of market value for a house or bare land, and 1.5 percent for a condominium in an approved development.
- Stamp duty
- A transfer tax of 5 percent, paid by every buyer on the higher of the purchase price or the market value. Due before the transfer can be registered.
- Immovable Property Tax
- An annual tax of 0.50 percent of market value, paid by non-Seychellois owners of residential property to the Seychelles Revenue Commission. Seychellois owners do not pay it.
- Freehold
- Outright ownership of land and anything built on it, with no time limit. Rare for foreigners in Seychelles, and mostly limited to approved developments such as Eden Island.
- Leasehold
- The right to hold and use property for a fixed term under a lease, rather than owning it outright. On the outer islands a foreigner can only take a long lease, never freehold.
- Moratorium
- The freeze the government placed on selling residential property to non-Seychellois in 2021. It was lifted in 2025, subject to new price thresholds and criteria.
- Immovable Property (Transfer Restriction) Act
- The law that governs whether and how a non-Seychellois can acquire property, and the source of the sanction requirement.
- Notary
- The legal officer who prepares the sale agreement, runs the conveyancing and registers the transfer. The buyer chooses the notary, and only one is needed for the sale.
- Condominium
- An individually owned unit within a larger development, such as an apartment. Foreign buyers face a lower sanction duty on condominiums to encourage this kind of development.
- Villas Policy
- A 2013 government policy that set separate terms for tourism villa developments, one of the narrow cases where foreign ownership of otherwise restricted land is possible.
- Gainful Occupation Permit
- The work permit every non-Seychellois needs to be employed or self-employed in Seychelles. Separate from property ownership and from residency.
- Permanent Residence Permit
- Long-term residency, available through an investment of at least USD 1 million in a Seychelles business and meeting the residence conditions. Not granted by buying property alone.
- Market value
- The open-market worth of a property, used as the base for stamp duty, sanction duty and the annual property tax. Duties are charged on the higher of price or market value.
- Beneficial owner
- The real person who ultimately owns or controls a company or property. Foreign purchases through a company require the beneficial owners to be traceable to real people.