Vanuatu: Guide to Buying Costs and Procedures

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Last Updated: Aug 02, 2006

Total transaction costs are high in Venezuela

Transaction Costs
		Who Pays?
Agency Commission Fees	5%	lessor
Stamp Duty	5%	lessee
Lease Transfer Registration Fee	2%	lessee
Solicitor's Fee	1%	lessee
Costs paid by buyer	5%
Costs paid by seller	8%
ROUNDTRIP TRANSACTION COSTS	13%
See Footnotes Source: Global Property Guide

How high are realtors' and lawyers' fees in Vanuatu? What about other property purchase costs?

How difficult is the property purchase process in Vanuatu?

No land in Vanuatu is freehold, however leases up to 50 years (for residential lots and 75 for commercial ones) are available.

There are no restrictions on foreign ownership of property (except of course land).

When a suitable property is found and a lease price had been agreed upon an 'Agreement for Sale and Purchase' form is signed by the lessee. A 'Consent to Transfer' application is then forwarded to the Government while the deposit is paid.

Stamp and registration duties are then settled at the local Land Records Department. The last step is to settle the solicitor's fee.

It generally takes about 60 days to finalize a transaction and a transfer of property.

Footnotes to Transaction Costs Table

The round trip transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc.

Currency:
Vanuatu uses Vanuatu Vatu. Exchange rate is at US$1=VUV115.100 as of 5th October 2006.