August 7, 2021
2 Min. Read

New Incentives for Property Buyers in Zanzibar

The government of Zanzibar through its body Zanzibar Investment Property Authority (ZIPA) has released incentives and benefits that are bound to make the climate more friendly for investments in property on the beautiful island of Zanzibar.

These new incentives have been brought with the hopes of boosting Zanzibar  - and Tanzania as a whole’s economy. Buyers with a purchased property within a strategic investment project of over USD100,000 will now enjoy the following benefits:

  • Resident permit for real estate buyer and his husband/wife/spouse and four children who are under twenty years
  • Fifty percent exemption on stamp duty in real estate buyer’s contract
  • Fifty percent exemption on capital gain on purchased properties
  • Hundred percent foreign ownership is allowed
  • Hundred percent exemption from worldwide income for foreigner
  • Hundred percent allowance for free repatriation of profit after tax

Fumba Town is the fastest growing real estate development in Zanzibar having been granted the status “strategic investor”. It is sustainably master-planned across 150 acres of coastal savannah, spread along 1.5kms of the Indian Ocean coastline. It is situated a mere 15 minutes drive from Stone Town and Zanzibar International Airport giving you easy access to both the ferry and the airport.

Buying into Fumba Town is to participate in a project that consistently delivers outstanding value, best-in-class product and high returns on your investment. The initial phases of Fumba Town sold out upon release; 98% of units from Phase 1.1 have been sold and 75% of them have been completed. 39% of units from Phase 1.2 have been sold and 24% of them are under construction. 

A growing town of already more than 150 residents, Fumba Town can boast that the vision and dream it had started with has come to life, providing spaces for people from all walks of life that share the same goal of modern living in a community governed by permaculture principles.

If you would like to learn more about Fumba Town and the Strategic Investor benefits, watch our webinar "New Incentives for Property Buyers in Zanzibar" here - where we answer all your questions on owning property as a foreigner in Zanzibar.

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