Electricity is billed on a monthly basis with a minimum standing charge regardless of occupancy based on the electrical capacity of the property. Actual units of electricity used are paid on top of this standing charge. There are prepaid electricity meters available - Cash Power - where preferred.
Telephone access is provided by Gamtel (the equivalent of BT in the UK). They bill on a montly basis.
Mobile access is provided by Africel and Gamcel with Alcotel on its way. These only operate through the purchase of sim cards and top-up credit cards which are widely available. There is little to choose between these providers on pricing or reliability.
The internet is provided by both Quantum who offer Broadband and Gamtel who offer a dial-up connection. It should be noted that VOIP is illegal in the Gambia. The internet is also billed monthly.
Satelite TV is available with widely varying packages. Expect to pay equipment, installation and set up fees together with a monthly standing charge.
Thursday, 27 September 2007
Gambian Buildings Insurance
Building insurance is available and is recommended. Please contact us where necessary for further details.
http://Gambia-Holiday-News.co.uk
http://Gambia-Holiday-News.co.uk
General Summary of Fee Structure
Total official costs involved in purchasing property should be around 1%.
Lawyer's fees - approx.10% of the selling price (dependant upon the solicitor's set fees).
Agents are paid by the seller unless otherwise agreed (approx. up to 10% of the purchase price)
Lawyer's fees - approx.10% of the selling price (dependant upon the solicitor's set fees).
Agents are paid by the seller unless otherwise agreed (approx. up to 10% of the purchase price)
Thursday, 20 September 2007
Costs Involved in Property / Land Ownership in The Gambia
The purchase price of the property or land as with most conveyancing transactions is dependant upon many factors, the most prevalent being location, size and quality of the property/land being tendered. .
There are yearly payments due both for land rent and local rates. Land rent is a minimal sum which is indicated on the lease document
There are yearly payments due both for land rent and local rates. Land rent is a minimal sum which is indicated on the lease document
Conveyancing Process
Unless an immediate cash payment is made in full, the conveyancing process.is conducted by a private contract being drawn up by the respective lawyers determining the property, purchase price, form of payment, date of completion, date of possession etc. Just as in European law a deposit, usually 10% of the purchase price, is paid on the signing of the Contract for a standard completion period within approximately 30 days.
On payment of the balance of the purchase price the seller will issue a public deed of conveyance to the purchaser, free of liens and encumbrances. This deed is issued and passed to the Tax Office to be assessed for Capital Gains Tax and Stamp Duty and then sent to the Property Registry for formal registration.
On payment of the balance of the purchase price the seller will issue a public deed of conveyance to the purchaser, free of liens and encumbrances. This deed is issued and passed to the Tax Office to be assessed for Capital Gains Tax and Stamp Duty and then sent to the Property Registry for formal registration.
Legal Formalities & Associated Property Conveyancing Costs in Gambia
Legal Formalities & Associated Property Conveyancing Costs in Gambia
Just as in European Law it is always recommended that a purchaser/seller of property/land instruct a reputable solicitor/conveyancer to act for them so it is equally advisable in The Gambia. If necessary we have a firm of highly qualified Gambian Lawyers/Barristers (and part-time Magistrates), fluent in English and other languages, who will be delighted to act for you in any land transactions you wish to undetake.
Land in the Gambia is registered at the Property Registry (an organisation just like the English Land Registry), where you can confirm immediately whether the seller owns the property free of any liens and encumbrances. Just as in Europe, however, there is still plenty of land/property which remains as yet unregistered. To avoid any ensuing confusion it is necessary for European purchasers/sellers to understand the difference between the terms freehold and leasehold used both there and in Gambia. These terms have very different implications in Gambia to those in Europe. In Gambia there is no such thing as absolute ownership of land and property. This is because all the land is ultimately owned by the Government and is leased to any private purchaser for a period of 99 years but this confusingly DOES NOT constitue leasehold land. This land/property can be either leasehold or freehold depending on whether or not it has been registered at the Property Registry. If it is unregistered it has a freehold status, whereas registered land/property is denoted leasehold. It is important to register previously freehold land/property as leasehold at the Property Registry during the purchasing process thus documenting your unequivocal ownership of the sameClick here:- A Paper Delivered by Dr. Henry D.R. Carrol, the Solicitor General and Legal Secretary, at the Gambia Tourism Authority Workshop at the Senegambia Beach Hotel, on Thursday 7th June 2007
Just as in European Law it is always recommended that a purchaser/seller of property/land instruct a reputable solicitor/conveyancer to act for them so it is equally advisable in The Gambia. If necessary we have a firm of highly qualified Gambian Lawyers/Barristers (and part-time Magistrates), fluent in English and other languages, who will be delighted to act for you in any land transactions you wish to undetake.
Land in the Gambia is registered at the Property Registry (an organisation just like the English Land Registry), where you can confirm immediately whether the seller owns the property free of any liens and encumbrances. Just as in Europe, however, there is still plenty of land/property which remains as yet unregistered. To avoid any ensuing confusion it is necessary for European purchasers/sellers to understand the difference between the terms freehold and leasehold used both there and in Gambia. These terms have very different implications in Gambia to those in Europe. In Gambia there is no such thing as absolute ownership of land and property. This is because all the land is ultimately owned by the Government and is leased to any private purchaser for a period of 99 years but this confusingly DOES NOT constitue leasehold land. This land/property can be either leasehold or freehold depending on whether or not it has been registered at the Property Registry. If it is unregistered it has a freehold status, whereas registered land/property is denoted leasehold. It is important to register previously freehold land/property as leasehold at the Property Registry during the purchasing process thus documenting your unequivocal ownership of the sameClick here:- A Paper Delivered by Dr. Henry D.R. Carrol, the Solicitor General and Legal Secretary, at the Gambia Tourism Authority Workshop at the Senegambia Beach Hotel, on Thursday 7th June 2007
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