Would You be so kind to give us Your professional advice. The case is our client is in the process of divorce (she is the Seychelles citizen) and she wants to protect her immovable property (in Seychelles) from her husband, who is not the Seychelles citizen.
We have consulted with lots of agents and tried to think of optimal variants for our client, but the results are still not perfect. First, we wanted to register the Belize IBC and contribute the house to its capital (as Seychelles IBC cannot hold interest in immovable property). But then we’ve found out that any transfer of property in Seychelles needs governmental sanction and is taxable no matter of the way of transfer – 17,5% from the value of the property (11% sanction duty + 1,5% processing fee +5% stamp duty). And that the government often refuses the transfer. That’s what we were told yesterday by agents.
So, please, we would like to know if there is any other possibility to protect the house without such great expenses (17,5% from the value of the house)?
If You have any ideas don’t hesitate to contact us. We will be glad to cooperate with You.
We have consulted with lots of agents and tried to think of optimal variants for our client, but the results are still not perfect. First, we wanted to register the Belize IBC and contribute the house to its capital (as Seychelles IBC cannot hold interest in immovable property). But then we’ve found out that any transfer of property in Seychelles needs governmental sanction and is taxable no matter of the way of transfer – 17,5% from the value of the property (11% sanction duty + 1,5% processing fee +5% stamp duty). And that the government often refuses the transfer. That’s what we were told yesterday by agents.
So, please, we would like to know if there is any other possibility to protect the house without such great expenses (17,5% from the value of the house)?
If You have any ideas don’t hesitate to contact us. We will be glad to cooperate with You.
