Many investors tend to seek information but don't really know where to start from. The Fiji Government has supplied plenty of information online. One of the main sites to gain information is from INVESTMENT FIJI.
Typical Questions and Answers Which you should be aware of:
Q1 What are the current laws in FIJI for Foreign Investors
A1. Foreign residents can purchase with prior ministerial approval
Q2 What are the current tax rates?
A2. Sale of Land tax liabilities is as follows
- (a) Stamp Duty 3% of Sale price
- (b) Crown and Native Leases require consent fee which could be around $200.00
- (c) Ground rental subject to confirmation from vendor will be supplied to you in due course
- (d) Capital Gain Tax (C.G.T) is payable usually Vendor pays unless by agreement Purchaser pays
- (e) Solicitors Costs - by agreement. Depends on searches and disbursements and legal advice. A retainer up front is required
Q3 What type of land can Foreign investors purchase?
There are three types of land in Fiji: native trust land, crown land, and freehold. Native land can be leased and based on the legal approvals it can be leased for 30 years etc. Crown land is basically government land usually provided up to 99 year lease based on the terms and conditions and the laws affecting the title. Automatic renewals can be in place based on the laws affecting the renewals and can be freely discussed. Your lawyer will be able to provide more indepth information depending on the title of the land.
Freehold property is the same as fee simple; it can be bought and sold freely and owned forever.
Q4 Can I become a FIJI Citizen?
Processing Dual Citizenship takes at a minimum six months. Subject to terms and conditions from the Immigration Office
Q5 Restrictions and any other laws in place?
- (a) The client may have to attend to rezoning if he/she wishes to utilise property for some other use unless otherwise stated as is on the legal documentation.
- (b) Ensure most utilities are in close proximity to property.
- (c) Accessibility to property from main roads and feeder outlets if they are in place or subject to completion.
Ask as many questions to ensure you have a smooth transition. Seek legal advice to keep to date with the current laws in FIJI.
The information provided above is for your quick reference and is dated as of 12th July 2017. Please ensure you are up to date with the current laws.