The property Laws of Zimbabwe do not make a distinction between a local or a foreigner when it comes to the acquisition of immovable property.A foreigner can acquire an immovable property and have the property registered in an individual or company name without the need for special dispensation from the Authorities.
A foreign owned company can acquire and register an immovable property in the company name upon completion of minimum formalities relating to the local registration of the company with the Companies Office in Zimbabwe.
Alternatively the foreign company can elect to register or purchase a shelf company in Zimbabwe for the sole property of the acquisition of the immovable property.
The only controls that used to be in place related to remittances of rentals in terms of Foreign Exchange Regulations.
These have however, fallen into disuse as sums remitted for rentals hardly exceed USD250 000 per transaction.
It is important to note that at the time of writing and since the inception of the inclusive Government, Zimbabwe is governed in this sphere more by policy than legislation which has often lagged behind and has been passed to ratify already existing and permitted fiscal practices.
It would be prudent for new investors with wider interests to come through the Zimbabwe Investment Center to benefit from referrals and other consequential spinoffs.
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