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Industrial lot, 10 Acres, Lautoka, Fiji Islands.
10 Acres Commercial/Industrial on Vomo Street, Lautoka. Very centrally located and the last 10 Acres on High Altitude. For Industrial Purpose or Industrial/Commercial Sub-Division Development
See More Details	Price: FJ$1.2m

Investing with Skyline Realtors™	Investing in Fiji

Fiji welcomes foreign investment with open arms. Buying properties in Fiji is secure and it is guaranteed. The transfer of property ownership is the same as USA, Australia, New Zealand and Great Britain. Fiji uses the Torrens system of land registration which constitutionally guarantees land ownership.

If you are a foreign investor it is advisable to retain a local lawyer. He will know the laws of Fiji and the government regulations and requirements. They will arrange for the title to be transferred into your name. Your solicitors might be able to advice a local lawyer. If not you can easily find Fiji Solicitors here.

There are few legal formalities when executing a Property Sale contract. If freehold property is larger than one acre than the Minister of land's approval must be sought first. Likewise, Stamp duty is payable prior to settlement. Stamp duty on real property is 2% and Property leases carry a stamp duty of 1% on the annual gross rent.

In addition, Reserve Bank of Fiji has to be notified of the funds transferred to the trust. The Reserve Bank has to keep track of the funds for the purpose of Exchange controls. This will be necessary if the funds transferred are huge. On the other hand, you will also need FTIB consent. You should disclose your investment plans to Fiji Trade and Investment Board [FTIB]. Your accountant should be able to handle this. However, it will be preferable if the local lawyer or Law Firm practices both the areas of Property and Foreign Investment.

Closing procedures are regulated by the government and usually occur within 60 days of contract execution. However, there can be delays through the government agencies. Once the Sales and Purchase is executed, attorneys for both parties work towards the settlement of the sale and arrange for registration of the new owner of the property. If it is freehold property and the total sale value of the property is transferred lump sum to the trust, ownership transfer will be done in no time.

Finally there are 3 types of land for sale in Fiji, they are:
[Extracted from FTIB website]
Freehold Land - accounts for 8.2% of the land and can be bought outright. The Minister of lands consent must be obtained for purchase over one acre of freehold land to non-residents.
Crown Lease Land - accounts for 8.4% of the land area and can be leased from the Crown. The offer for sale of property on crown land of over 10 hectares must be advertised locally before an application for consent is considered by the Minister. This procedure gives the opportunity for local Fijians to apply first before property is sold to foreign investors. This land is leased from Government.
Native Lease Land - has the largest holding with 83.4% of the land. Native land is owned by Fijians in communal tenure with surplus land, outside reserve land, able to be leased but not sold. There are five main lease classifications- agriculture, residential, commercial, industrial and special with each one holding separate lease procedures and regulations.

CBD Apartment, Suva City, Fiji Islands
4 Executive units in the heart of Suva on Freehold Land. Close to all amenities and entertainment available in Suva City. Valuable property to own. Cannot miss it.
See More Details	Price: FJ$2m