The phrase “registration of acquiring a property in foreign currency” refers to legal procedures related to documenting the purchase of a property using a currency other than the local currency.

Registration fees

The registration fees for acquiring property in foreign currency for residential or commercial purposes consist of the following components:

• A flat fee of 30 dinars, multiplied by the number of pages in the contract.
• 1% of the property value as property registration fees or fees for participation in unregistered properties.
• 3% of the property value as property transfer fees if ownership transfer is not established.
• Applicable fees for registration in the property registry, if required.
• Late payment penalties if registration is submitted more than 60 days after the contract date.

Required conditions

The fees required for registering the acquisition of property in foreign currency, whether for residential or commercial purposes, consist of several components:

The acquisition must pertain to a residential property or built properties designated for economic activities. Therefore, undeveloped properties are exempted.

The acquirer must demonstrate non-residency in Tunisian territory during the last two years from the date of contract signing.

Proof of full financing for the acquisition in foreign currency must be provided.

A written application accompanied by required documents must be submitted to the Regional Financial Administrator, including a specified address in the Republic of Tunisia and a contact phone number.

Necessary documents

To prove non-resident status, one must provide one of the following documents:

• A copy of the complete passport with a border movement document from the Immigration and Foreigners Administration at the Ministry of Interior,
• Or a copy of the residence card (carte de séjour),
• Or a copy of the overseas residence certificate endorsed by foreign authorities indicating the duration of residence,
• Or a copy of the consular card (carte consulaire),
• Or a copy of the investment card.

To prove the property acquisition, the following documents must be provided:

• A copy of the written contract, transfer card, or court ruling explicitly stating the residential nature of the property or its designation for economic use.

To demonstrate the acquisition in foreign currency, the following documents must be provided:

• Investment card,
• A Bank certificate or a copy of the SWIFT message explicitly confirming the financing of the acquisition in foreign currency.
• Copies of documents proving currency supply (documents on currency supply, disposal, and deposit such as customs declaration of supplied currency, bank account statements proving deposit), and documents proving that the acquisition financing was sourced from these funds as well.

Registration location

It’s crucial to understand this detail to avoid wasting time moving from one place to another.

Regarding documents signed by the notary public, they are registered at the relevant local treasury office where the notary public is based.

As for documents drafted by individuals without notarial certification, they are registered at the appropriate treasury office based on the location of the property itself.

Registration process

Preparation of complete documentation and its submission to the regional financial administration affiliated with the treasury office at the registration location.

The verification phase involves confirming the documents and approving the contract registration by paying the required fees.

Obtaining a memorandum issued by the regional financial administration enabling the submission of documents for registration at the treasury office.

Visiting the treasury office to submit a memorandum from the financial administrator, along with at least three legal copies of the lawyer’s documents or a notarial transfer card with a copy thereof, in addition to copies of annual clearance receipts for the contracting party over the past three years.

Settlement of registration fees and receipt of the clearance document within 24 hours of registration.

Registration deadlines

The registration of property purchase contracts must be completed within sixty days from the date of signing the contract.

Failure to register within this period will result in late registration penalties being applied.

Conclusion

In conclusion, the phrase “registration of property acquisition in foreign currency” refers to the legal procedures involved in documenting the purchase of property using a currency other than the local currency. The blog provides a detailed explanation of the required fees, necessary conditions, essential documents, registration location, registration process, and deadlines. This comprehensive guide aims to help readers understand the correct and organized execution of these procedures.

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