Senegal has chosen to attractforeign direct investment ( <\/strong>FDI). The Investment Code guarantees foreign nationals the same rights as Senegalese citizens. In practical terms, this means you can purchase real estate in your own name without needing a local partner. Note that certain activities require specific permits<\/strong> (such as the fish trade, transportation, or baking). Real estate is exempt from this requirement. There are two options for purchasing property in Senegal: <\/p>\n\n In both cases, it is essential to use a licensed notary<\/strong>. The notary authenticatesthe deed of sale and <\/strong>registers the transaction with the Bureau of Real Estate. This visit to the notary provides you with legal protection and gives your purchase an official framework. <\/p>\n\n This is a question many foreigners ask themselves. Buying in your own name<\/strong> is the simplest and fastest solution if you\u2019re looking for a second home or a small rental investment. On the other hand, forming a company ( <\/strong>SARL or SA) may be more advantageous if you\u2019re planning multiple transactions or a large-scale project. This legal structure allows you to: <\/p>\n\n In Senegal, there is no minimum capital requirement to form a limited liability company (SARL)<\/strong>. To file your application, you must complete the registration procedures. As a foreign national, you will need to provide a criminal record check<\/strong> from your country of origin. If you would like assistance with these procedures, we recommend that you contact the Business Creation Office<\/a> (BCE), which is part ofAPIX.<\/strong> <\/p>\n\n As a foreign national, you are subject to the same fees as U.S. citizens. You should expect to pay approximately 10% of the sale price<\/a><\/strong> in closing costs. <\/p>\n\n The main expenses are:<\/p>\n\n If you purchase a new property, here\u2019s some good news: you\u2019re exempt from property tax<\/strong> for 5 years starting from the date of your investment. This small tax benefit can make a real difference in your return on investment. As a foreign investor in Senegal, you\u2019re also protected by bilateral treaties. To date, the country has 29 bilateral investment treaties<\/a>. <\/p>\n\n Senegal is a member ofthe West African Economic and Monetary Union ( <\/strong>UEMOA). This monetary framework ensures the stability of the CFA franc, which is pegged to the euro, and facilitates the repatriation of income. It is perfectly legal to transfer funds from abroad to purchase real estate, provided that the source of the funds can be verified. <\/p>\n\n Here are our recommendations:<\/p>\n\n If you’d like to take out a loan, we suggest you contact Senegalese banks to find out their interest rates. <\/p>\n\n Investing in real estate abroad requires expertise, local knowledge, attention to detail, and a strong network. That\u2019s where choosing the right real estate developer in Dakar makes <\/strong>all the difference. A reputable professional should be able to: <\/p>\n\n At REALITES SENEGAL, our teams are here to support you in finding the property that\u2019s right for you. As a subsidiary of an international group<\/a>, we strengthen the ties between European and Senegalese investors and trusted local partners. <\/p>\n\n In summary, it is entirely possible for a foreigner to invest in Senegal. The buyer will own 100% of the property, provided they complete all the necessary legal procedures. However, it is strongly recommended that you seek professional guidance. With the help of professionals, you\u2019ll be able to follow the key steps for a successful real estate investment. The REALITES team, based in Dakar, supports its clients from start to finish: from the initial contact through to the handover of the property. Source: <\/strong>Tresor Economie <\/a> <\/p>\n\n
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<\/figure>\n\nShould I buy in my own name or start a company?<\/strong>
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Understanding Senegalese Taxes and Purchase-Related Fees<\/strong>
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Investing in Senegal: How to Transfer and Secure Your Funds?<\/strong><\/h2>\n\n
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Choose a trusted partner to ensure the success of your project<\/strong><\/h2>\n\n
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Conclusion: What if now were the right time for you to get into real estate in Senegal?<\/strong><\/h2>\n\n