Stamp Duty (Exemption) Order, 2019
The Stamp Duty (Exemption) Order, 2019 sets out circumstances where no stamp duty is payable on property transactions in Seychelles. It provides relief for Seychellois citizens acquiring, transferring, or leasing immovable property, with a focus on supporting home ownership and family property arrangements.
Scope of Exemption
Residential Property: Transfers and leases of residential immovable property valued up to SCR 3,000,000 for first-time buyers and family transfers are fully exempt from stamp duty. Stamp duty is payable only on the portion of the property value that exceeds this threshold.
- First-Time Ownership: The exemption is available to Seychellois citizens who do not already own a residential property, either wholly or in part.
- Inheritance and Succession: Transfers of immovable property through succession, wills, or to heirs are exempt.
- Family Transfers: The transfer of a matrimonial home or property between spouses, or from a spouse to their children.
Conditions
- ➤ The transferee or lessee must be an individual and a Seychellois citizen.
- ➤ For shared ownership, the exemption is calculated proportionally to the individual’s share in the property.
- ➤ Where the property exceeds the value limit, stamp duty becomes payable on the transaction.
Application Process
- ➤ An application must be submitted using the prescribed form together with supporting documents (identity documents, property valuation, proof of relationship in family transfers, etc.).
- ➤ The Ministry of Finance reviews applications and issues a Certificate of Exemption if all conditions are met.
- ➤ Applications can be submitted via email at sdexemption@finance.gov.sc.
Compliance and Enforcement
- ➤ Any false declarations, or breach of the conditions of exemption, can lead to cancellation of the exemption and the imposition of the applicable stamp duty.
- ➤ Refunds of wrongly paid stamp duty may be claimed within the time limits provided in the Order.
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