FANTASTIC NEWS FOR NON SEYCHELLOIS INVESTORS LOOKING TO PURCHASE A HOLIDAY HOME OR PERMANENT RESIDENCE IN SEYCHELLES
President Wavel Ramkalawan chaired a meeting of the Cabinet on Wednesday 23 January 2025, at which a number of legal and policy memoranda were considered.
The Cabinet approved the lifting of the moratorium on the purchase of residential property by non-Seychellois, alongside the adoption of new criteria to regulate such transactions. This decision aims to stimulate wealth creation, attract foreign direct investment, and increase government revenue through adjusted taxes, while safeguarding housing affordability for Seychellois. The new policy framework restricts non-Seychellois ownership to high-end residential properties above specific price thresholds, preserves state and affordable housing for local citizens, and incorporates measures such as increased sanction duties and periodic criteria reviews. Applications will be subject to due diligence and compliance with existing land use and tourism regulations, ensuring a balanced approach to economic and social priorities.
FULL DETAILS WILL BE PUBLISHED AS SOON AS WE KNOW MORE
