Since 2020, Seychelles has taxed foreign-owned residential property annually. If you are a non-Seychellois who owns a home here, this is a holding cost you must plan for, and a registration duty you must not miss.
01 What the tax is
The Immovable Property Tax came into force on 1 July 2020. It is an annual tax on residential immovable property in Seychelles that is owned by non-Seychellois. It does not apply to Seychellois owners, and it is separate from the one-off stamp duty and sanction duty paid on purchase.
02 Who pays
Every non-Seychellois, individual or company, who owns residential immovable property in Seychelles is liable. Ownership is what triggers it. Use as a home, a holiday villa or a rental does not change the liability.
03 The duty to register
Liable owners must register with the Registrar General at the Land Registry. Registration is a legal obligation with its own deadlines and penalties, distinct from paying the tax itself, so deal with it promptly after acquiring property.
04 Value and rate
The tax is charged on the market value of the property, which is why a defensible valuation matters. Valuations for tax purposes must be done by a valuation or quantity surveyor licensed by the Seychelles authorities and approved for the purpose. Not by an online estimate. A SeyLand figure is a useful starting sense of value. The surveyor's valuation is the one the tax is assessed on.