Frequently Asked Questions

Can foreigners legally buy property in Madagascar?

No, foreigners are not legally allowed to buy property in Madagascar. They can, however, lease land for up to 99 years.

Do I need a special structure like a trust or corporation to buy property in Madagascar?

Since foreigners cannot directly own property, they often set up a company that can legally own property.

Do I own the property outright as a foreigner in Madagascar?

No, you can't outright own property as a foreigner. You can only lease land for up to 99 years.

What are the closing costs and taxes when buying property in Madagascar?

Closing costs usually range from 5% to 10% of the property value. Taxes are usually low, but it's best to consult with a local attorney to get accurate information.

Do I need to hire a lawyer when buying property in Madagascar?

Yes, it is highly advisable to hire a local attorney who is familiar with the property laws in Madagascar to guide you through the process.

Can I get a mortgage in Madagascar as a foreigner?

It is difficult for foreigners to get a mortgage in Madagascar. It's best to consult with a local bank or financial institution for more information.

Are there annual property taxes in Madagascar?

Yes, there are annual property taxes in Madagascar. However, the rates are usually low and depend on the location and value of the property.

Can I rent out my property in Madagascar for income?

Yes, you can rent out your property for income. However, you should check with local laws and regulations regarding this.

Is the buying process safe and transparent in Madagascar?

The buying process can be complex due to the restrictions on foreign property ownership. It's best to hire a local attorney to ensure the process is safe and transparent.

Do I get residency or visa benefits by buying property in Madagascar?

Buying property in Madagascar does not automatically grant residency or visa benefits. You should consult with a local attorney or immigration expert for accurate information.