The Seychelles has recently reopened its doors to foreign property buyers, but the opportunities come with targeted conditions - especially for those seeking tourism-related investments. Here's what you should know:
1. Moratorium Lifted on Foreign Purchases
- Effective January 2025, non-Seychellois can now purchase residential land or property, subject to government approval.
- Plot size: 2,000 - 4,000 m² land parcels, or homes on 1,000 - 4,000 m² plots; small exceptions granted with justification.
- Price floor: At least SCR 4,000/m² (approx. USD 700,000 total) for land, or a minimum property value of SCR 10 million (~USD 700k).
- Fees: 18.5% registration duty for non-residents, plus sanction fees (1.5% of market value) and application fees.
2. Tourism-Development Requirement
Foreign buyers must use the acquired property to build a tourism business:
- Types allowed: Guesthouses or boutique hotels only - no self-catering units for foreign purchase.
- Typically capped at up to 15 rooms per development - no large-scale resorts.
- Must offer economic and employment returns as per government policy.
3. Size & Build Guidelines
- Land area: ≥1,000 m² for guesthouses; ≥1,500 m² for boutique hotels.
- Build footprint: max 35% of total land area.
- Room dimensions: bedrooms ≥12 - 15 m², bathrooms ≥6 m², plus adequate reception and living space.
- Must connect to main utilities and comply with sustainability standards (EIAs encouraged).
4. Application & Approval
- Foreign purchasers need sanction approvals from the Ministry of Lands & Housing, with applications valid for one year.
- Required documents include development concept plans, proof of funding, and environmental compliance.
- Government reviews ensure benefits to the economy and adherence to zone-specific rules (coastal protection, etc.).
5. Fees, Taxes & Incentives
- Stamp duty & registration: 5% + 18.5% duty for foreign buyers.
- Annual property tax: 0.25% IPT for non-citizens.
- Permanent residency is attainable for investments ≥USD 2 million.
6. Strategic Advantages
- Tourism demand: The market is projected to hit USD 4.7 billion by 2025, heavily driven by tourism and expat interest.
- Limited supply and strict regulation help maintain luxury market values and reduce competition.
- Sparse restrictions foster sustainable growth, aligning real estate with environmental protection objectives.
Summary at a Glance
- Eligible buyers: Non-Seychellois with sanction approval.
- Plot size: 1,000 - 4,000 m² depending on type.
- Usage: Tourism-focused guesthouses or boutique hotels (≤15 rooms).
- Fees: 18.5% registration duty + sanction fee + annual property tax.
- Incentive: Residence possible from USD 2M investment.
Final Thoughts
Sidestepping old restrictions, The Seychelles is carefully inviting foreign capital - but only for protected, tourism-oriented projects. The focus on sustainable boutique developments ensures preservation of the country’s natural charm while adding luxury hospitality options. If you're ready to invest with a clear tourism vision that meets the size, build, and compliance criteria, this is a rare doorway to owning property in paradise - with serious upside and lasting impact.