Purchasing Property:- A National pays:
- 2% of the property market value to his/her lawyer to transfer the Title Deed
- 1% Stamp Duty charge
- In summary, approximately 3% of the property market value
A Non-National pays:
- 10% of the property market value for an ‘Aliens License’
- 2% to his/her attorney
- 1% Stamp Duty charge
- In summary, approximately 13% of the property market value.
Requirement for applying for ‘Aliens License’:- One must obtain:
- A Police Record
- A Character Reference
- Bank Statements
Selling Property:- A National pays:
- 5% to the government (exempt the first $20,000)
- 1% legal fees
- In summary, approximately 6% of the property market value
A Non-National pays:
- 15% of the property market value to government
- 1% legal fees
- In summary, approximately 16% of the property market value
* There is 15% VAT (Value Added Tax) on services paid to government.
