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	<title>International Property Buying Process &#187; Angola</title>
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	<description>Real Estate Registration Process in Over 200 Countries</description>
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		<title>Process of Registering and Buying Property in Angola</title>
		<link>http://www.buying-process.com/buying-property-in-angola/process-of-registering-and-buying-property-in-angola/</link>
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		<pubDate>Fri, 14 Nov 2008 06:53:40 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Angola]]></category>
		<category><![CDATA[Angola property law]]></category>
		<category><![CDATA[Angola real estate law]]></category>
		<category><![CDATA[buyers' guide Angola]]></category>
		<category><![CDATA[buying real estate in Angola]]></category>
		<category><![CDATA[registering property in Angola]]></category>

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		<description><![CDATA[Step 1: Obtain an updated ownership certificate from the Registry
Completion Time Frame: 7 days (simultaneous with procedure 2)
Completion Costs: AOA 1,550
Points to Note:
An updated ownership certificate is obtained from the relevant Real Estate Registry. It sets out a full description of the property, including information on its owner and any charges, liens or encumbrances pending [...]]]></description>
			<content:encoded><![CDATA[<h3>Step 1: Obtain an updated ownership certificate from the Registry</h3>
<p><strong>Completion Time Frame:</strong> 7 days (simultaneous with procedure 2)<br />
<strong>Completion Costs:</strong> AOA 1,550<br />
<strong>Points to Note:</strong><br />
An updated ownership certificate is obtained from the relevant Real Estate Registry. It sets out a full description of the property, including information on its owner and any charges, liens or encumbrances pending over the property.</p>
<hr />
<h3>Step 2: Obtain an updated Tax Certificate from the Tax Office</h3>
<p><strong>Completion Time Frame:</strong> 7 days (simultaneous with procedure 1)<br />
<strong>Completion Costs:</strong> AOA 1,500<br />
<strong>Points to Note:</strong><br />
An updated tax certificate is obtained from the relevant Tax Office, detailing the description of the property.</p>
<hr />
<h3>Step 3: Pay conveyance tax (SISA) and stamp duty</h3>
<p><strong>Completion Time Frame:</strong> 1 day<br />
<strong>Completion Costs:</strong> 10% of property value (conveyance tax) + 0.8% of property value (stamp duty)<br />
<strong>Points to Note:</strong><br />
Typically, this is only paid when the parties have agreed between them and with a notary public a fixed date for the execution of the required notary deed. A receipt will be issued by the tax authorities, which will then be given to the notary public as part of Step 4 below. The 0.8% Stamp Duty is payable on the SISA receipt.</p>
<p>The documentation shall include:<br />
A statement by the seller setting out the sales value or a copy of the Promissory Agreement of Sale and Purchase signed by both parties.</p>
<hr />
<h3>Step 4: Execute the deed of transfer before a notary public</h3>
<p><strong>Completion Time Frame:</strong> 15 days<br />
<strong>Completion Costs:</strong> Already paid in Step 3<br />
<strong>Points to Note:</strong><br />
A notary public executes the deed of transfer.<br />
From this moment onwards, the buyer is the lawful owner of the property in light of the transaction. Registration is needed for publicity purposes and protection against third parties.</p>
<p>The documentation shall include:</p>
<ul>
<li>Proof of payment of conveyance tax (obtained in Step 3)</li>
<li>Updated registry certificate from Land Registry (obtained in Step 1)</li>
<li>Updated tax certificate from Tax Office (obtained in Step 2)</li>
<li>Personal identification documents of the buyer and seller (passports, identity card, etc.)</li>
<li>Registry of Companies&#8217; Certificates if seller and buyer are companies, so as to provide evidence that the officer executing the deed on behalf of the corresponding company has authority to do so.</li>
</ul>
<hr />
<h3>Step 5: Apply for provisional registration at the Land Registry Office</h3>
<p><strong>Completion Time Frame:</strong> 5 days<br />
<strong>Completion Costs:</strong> Value of property Fee per 30 UCF (UCF)     Number Amount<br />
a) up to 60 UCF                                                                    = 6 = 6 * 2 = 12.00<br />
b) from 60 UCF to 400 UCF                                                  = 9 * ((400 -60))/30 = 102.00<br />
c) from 400 UCF to 4000 UCF                                              = 10 * ((4000-400)/30) = 1,200.00<br />
d) above 4000 UCF                                                               = 0.05 * ((property value &#8211; 4000)/30)) =327.42</p>
<p>Total registration fee (UCF) = 1,641.42<br />
Total registration fee (AOA) = 1 641.42 * 53 = 86,995.26<br />
<strong>Points to Note:</strong><br />
The notarized deed certificate must be presented to apply for provisional registration at the Land Registry Office.<br />
It is no longer necessary to apply for provisional registration at the Tax Office as final registration with the tax office is processed much quicker than with the Real Estate Registry.</p>
<hr />
<h3>Step 6: Receive definitive registration from the Real Estate Registry</h3>
<p><strong>Completion Time Frame:</strong> 300 days (10 months)<br />
<strong>Completion Costs:</strong> Already paid in Step 5<br />
<strong>Points to Note:</strong><br />
This procedure is a conversion, not a new act of registration and it will take place approximately 10 months after provisional registration. The procedure takes so long because there is a backlog, all records are paper-based and the entire history of transactions relevant to the property must be checked every time.</p>
<hr />
<h3>Procedure 7: Apply for definitive registration at the Tax Office</h3>
<p><strong>Completion Time Frame:</strong> 5 days<br />
<strong>Completion Costs:</strong> AOA 105<br />
<strong>Points to Note:</strong><br />
At the tax office, there is only final registration. Provisional registration is no longer applicable, as final registration has become considerably faster.</p>
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