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	<title>International Property Buying Process &#187; Guinea-Bissau</title>
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		<title>Process of Registering and Buying Property in Guinea-Bissau</title>
		<link>http://www.buying-process.com/buying-property-in-guinea-bissau/process-of-registering-and-buying-property-in-guinea-bissau/</link>
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		<pubDate>Sat, 15 Nov 2008 08:24:01 +0000</pubDate>
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				<category><![CDATA[Guinea-Bissau]]></category>
		<category><![CDATA[buyers' guide Guinea-Bissau]]></category>
		<category><![CDATA[buying real estate in Guinea-Bissau]]></category>
		<category><![CDATA[Guinea-Bissau property law]]></category>
		<category><![CDATA[Guinea-Bissau real estate law]]></category>
		<category><![CDATA[registering property in Guinea-Bissau]]></category>

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		<description><![CDATA[Step 1: Obtain property title from property registry (certidão de registro predial)
Completion Time Frame: 14 days
Completion Costs: CFA 2,000
Points to Note:
The seller must request the property title by completing a form and signing it. The signature must be verified at the notary. In practice this is done in the same day as the request given [...]]]></description>
			<content:encoded><![CDATA[<h3>Step 1: Obtain property title from property registry (certidão de registro predial)</h3>
<p><strong>Completion Time Frame:</strong> 14 days<br />
<strong>Completion Costs:</strong> CFA 2,000<br />
<strong>Points to Note:</strong><br />
The seller must request the property title by completing a form and signing it. The signature must be verified at the notary. In practice this is done in the same day as the request given that both agencies are in the same building.</p>
<hr />
<h3>Step 2: Verify signatures at the notary</h3>
<h3></h3>
<h3></h3>
<p><strong>Completion Time Frame:</strong> included in previous Step<strong><br />
Completion Costs:</strong> CFA 231 for one signature<br />
<strong>Points to Note:<br />
</strong>The seller has his signature verified in order to request a copy of his title.</p>
<h3>
<hr /></h3>
<h3>Step 3: Pay property transfer tax and obtain tax clearance from tax authority</h3>
<p><strong>Completion Time Frame:</strong> 1 &#8211; 2 days<br />
<strong>Completion Costs:</strong> 2% of property value<br />
<strong>Points to Note:</strong><br />
The tax clearance states that no taxes are owed on the property prior to its transfer. The transfer tax is paid at the same time.</p>
<hr />
<h3>Step 4: Parties request the notary prepare and execute the sale purchase agreement</h3>
<p><strong>Completion Time Frame:</strong> 180 days<br />
<strong>Completion Costs:</strong> CFA 80,000 for the public deed (according to scale) + stamp duty (CFA 2000 per page+ 0.5% of half of property value)<br />
<strong>Points to Note:</strong><br />
The public deed is handwritten and only the notary can write it in the notary books where all contracts are registered. There is only one notary is the whole country. The seller must present the property title and the proof of tax payment. Both the seller and the buyer must present their identification documents. Time may be reduced to 2 or 3 days if bribes are paid, but a reasonable time for a public deed with no bribes being paid is 6 months. The cost varies by property value and number of pages in the contract &#8211; around CFA 80,000 for the public deed + stamp duty (CFA 2000 per page + 5% of half of property value). It is assumed that the contract is approximately 4 pages.</p>
<hr />
<h3>Step 5: Obtain copy of the public deed (certidão de escritura) from the notary</h3>
<h3></h3>
<h3></h3>
<p><strong>Completion Time Frame:</strong> included in previous Step<br />
<strong>Completion Costs:</strong> included in previous Step<br />
<strong>Points to Note:<br />
</strong>After the public deed is handwritten in the books, the contract is typed and a copy is given to the parties.</p>
<h3>
<hr /></h3>
<h3>Step 6: Register the new owner at the property registry</h3>
<p><strong>Completion Time Frame:</strong> 14 days<br />
<strong>Completion Costs:</strong> CFA 65,566.52 (registration fees according to property value and a scale) +CFA 200 per page (x4 pages)<br />
<strong>Points to Note:</strong><br />
To do this registration the buyer must make a request with a verified signature (by the notary); the request must be submitted along with the certidão de escritura. The registry makes a note of the new owner in their books. The fee scale is as follows:<br />
CFA 5000 (each registration) + CFA 8,900 for each million CFA property value + 21% of said fee + CFA 822 tax + CFA 250 printing + CFA 5000</p>
<hr />
<h3>Step 7: Verify signatures at notary</h3>
<h3></h3>
<h3></h3>
<p><strong>Completion Time Frame:</strong> included in previous Step<br />
<strong>Completion Costs:</strong> CFA 231 for one signature<br />
<strong>Points to Note:</strong></p>
<h3>
<hr /></h3>
<h3>Step 8: Obtain the new property title (certidão predial)</h3>
<h3></h3>
<h3></h3>
<p><strong>Completion Time Frame:</strong> included in Step 6<br />
<strong>Completion Costs:</strong> included in Step 6<br />
<strong>Points to Note:<br />
</strong>The buyer obtains new property title. After the registration in the books in done, a copy of that registration is typed and given to the buyer.</p>
<h3>
<hr /></h3>
<h3>Step 9: Submit a copy of the property title to municipality</h3>
<p><strong>Completion Time Frame:</strong> 1 day<br />
<strong>Completion Costs:</strong> free of charge<br />
<strong>Points to Note:</strong><br />
The buyer must submit a copy of the property title to the municipality to inform about the property transfer, for tax purposes. In Bissau, the municipality acts as the cadastre, but outside of the capital there are separate cadastres in which to perform this Step. Note that land is leased and buildings are owned. At the first registration of land and building, the certificate is unified and contains both sets of details on lease and ownership of building. The Steps here describe the process of transferring that unified title.</p>
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