Cabinet Lifts Moratorium on Non-Seychellois Purchase of Residential Property with New Criteria

VICTORIA, Seychelles — The Cabinet has approved the lifting of the moratorium on the purchase of residential property by non-Seychellois, alongside the adoption of new criteria to regulate such transactions, Vice-President Ahmed Afif announced at a press conference yesterday.

The announcement follows the weekly Cabinet meeting chaired by President Wavel Ramkalawan on Wednesday. Mr Afif said the decision was taken to ensure a balanced approach to both economic and social priorities. Restrictions under the new regime include a minimum plot size of 2,000 m² or a property value of R10 million or more. Land from the land bank and condominiums are not eligible for sale to non-Seychellois.

“The government has records of the land, and it can be traced to determine whether it originated from a scheme or not,” Mr Afif said, addressing concerns that the change could lead to speculative buying of residential land. The full text of the new criteria is expected to be gazetted in the coming days, with the Ministry of Finance, National Planning and Trade tasked with implementation.