Price Range: from 100 000 F.CFA to 100 000 000 F.CFA
Taille: from 10 m2 to 1 000 m2
Other Features
Price Range: from 100 000 F.CFA to 100 000 000 F.CFA
Superficie: from 10 m2 to 1 000 m2
Other Features

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The process of buying property in Senegal

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How difficult is the process of buying property in Senegal?

There is no discrimination against foreign property owners in Senegal, and foreign ownership of 100 % is permitted in most sectors, as is acquisition of the land title. A word of warning: officially, the Investment Code provides for the free transfer of capital, but in reality, President Wade's reforms cannot be instantaneous, and transfers to countries other than members of the West African Economic and Monetary Union are still subject to numerous requirements, controls and authorizations. What's more, opening a foreign exchange account requires the approval of both the Central Bank and the government.

While the transaction costs calculated costs are high, actual costs are lower. A local source says: "In France, you have to do the transaction in front of the notary. But here, the transaction is separated from the record. "30% of the amount is declared, or less." The buyer's actual costs are therefore more reasonable - around 10.2 %. An a priori assumption is that the current government will strive to reduce costs, adapting legality to reality.

A foreign buyer can purchase either from a private individual or from the government.

Buying a property from a private individual

When buying from a private individual, the buyer needs the services of a lawyer, who obtains a certificate of registration from the Registrar. land to identify all charges and confirm ownership of the property.

Once the decision has been taken, a promise agreement is signed by both parties in the presence of the notary. The Ministry of Finance authorizes the transfer at the request of the parties. Upon authorization, the notary issues a proof of sale and prepares the deed of sale.

The sale is then registered and stamped, and the notary requests a name change from land register.

Buying a government property

When buying from the government, the buyer goes to the government's investment center, APIX (Agence Nationale Chargée de la Promotion de L'Investissement et des Grands Travaux). It is necessary for the cadastral department to prepare a map of the land and indicate whether it is public, private or national domain.

The buyer petitions the Ministry of Economy and Finance through APIX. The petition must contain: the cadastral plan, the planned work, the cost of the work and how it will be financed, and the number of jobs expected to be created.

L'APIX then advises the relevant authorities, in particular the Directorate General of Customs and Excise. What follows depends on the type of property involved. In the case of a private sale, the contract is If the sale exceeds 10 million francs, prior authorization must be obtained from the Ministry of the Economy and Finance.

Notary fees in Senegal

With regard to transactions in SenegalIn Senegal, the role of a notary is vital. The country requires a notary to sign lease or title deeds, and many real estate transactions in Senegal are conducted on the national domain, which is prone to disputes. This lack of expertise and experience means that local authorities are often unable to handle such transactions. The involvement of notaries can, however, improve the process and reduce costs.

In addition to the notary's fees, there are other fees to be paid to professionals, which can make the transaction costly. While agents Since real estate agents and lawyers charge high prices, the cost of buying property in Senegal should not be prohibitive. What's more, there are noproperty tax or capital gains tax in Senegal, which means the country has a low cost of living. In addition, current state financial legislation aims to reduce the burden on foreign investors, who account for nearly 80% of the housing market.

Transaction costs table footnotes

Round-trip transaction costs include all the costs involved in buying and reselling a property - lawyers' fees, notaries' fees, registration fees, taxes, agents' fees, etc.

Stamp duty

Real estate sales are registered and certified at the Stamp Registry Office. Stamp duty is generally levied at a flat rate of 10%.

Simple purchasing procedure

Rental procedure in Senegal

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