Registering Property in Burkina Faso

This topic examines the steps, time, and cost involved in registering property in Burkina Faso.

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Property Value: XOF 11,677,615
City: Ouagadougou

	Procedure	Time to complete:	Cost to complete:
1	Check encumbrances on the property	7 days	FCFA 2000 for normal procedure, or FCFA 4000 for urgent procedure
2	Notarize the sale contract	1 day	FCFA 466,776
3	Request and organize an inspection for valuation (Proces Verbal) of the property at the GUF	6 days	6000 FCFA (assessment of the property) + FCFA 4000 (valuation registration) + FCFA 1700 (Stamp duty)
4	Deposit deed of sale and pay transfer tax payment slip at Land registry	45 days	8% of purchase price (Transfer tax) + 1.05% (publication cost)

Procedure 1.: Check encumbrances on the property
Time to complete:: 7 days
Cost to complete:: FCFA 2000 for normal procedure, or FCFA 4000 for urgent procedure
Name of Agency:: Land Registry ("Guichet unique foncier")
Comment:: Although there is an expedited procedure option, most people choose the normal procedure. If there are any charges on the property, there is an additional FCFA 2000 for information on each such charge. In our case, there are no charges and therefore only the basic price applies.

Procedure 2.: Notarize the sale contract
Time to complete:: 1 day
Cost to complete:: Notary fee schedule on a sliding scale as follows:
1 - 2.500.000 FCFA = 7%
2.500.000 - 5 000 000 FCFA = 5%
5.000.001 - 10 000 000 FCFA = 3%
above 10,000,000 = 1%
Name of Agency:: Private notary
Comment:: In Burkina Faso it is mandatory to notarize the sale contract, and common practice to ask the notary to conduct the entire registration process on behalf of the parties. The notary fee scale is as follows: 7% from 1 to 2.500.000 FCFA
5% from 2.500.001 to 5.000.000 FCFA
3% from 5.000.001 to 10.000.000 FCFA
1% for any value above.

Procedure 3.: Request and organize an inspection for valuation (Proces Verbal) of the property at the GUF
Time to complete:: 6 days
Cost to complete:: 6000 FCFA (assessment of the property) + FCFA 4000 (valuation registration) + FCFA 1700 (Stamp duty)
Name of Agency:: Land Registry ("Guichet unique foncier")
Comment:: A team of surveyors from the GUF will visit the property, and determine a value for the property, according the conditions of the property (floor type, roof, building materials. Etc…). Based on a table of values and the conditions of the property, a property value will be determined, and will be registered in the GUF for taxation purposes (transfer and publication taxes).
A statutory time limit of 4 days has been established in 2009 to process the evaluation has been established, as well as a 2 days to register the new property valuation in the GUF.

Procedure 4.: Deposit deed of sale and pay transfer tax payment slip at Land registry
Time to complete:: 45 days
Cost to complete:: 8% of purchase price (Transfer tax) + 1.05% (publication cost)
Name of Agency:: Land Registry ("Guichet unique foncier")
Comment:: The notary will pick up the Proces Verbal and then deposits the complete transfer file at the Guichet unique foncier, and receives the notice of the transfer tax amount to be paid at the tax agency. The transfer tax is calculated and a payment slip is given to the notary for payment. With the transfer tax payment slip, the transfer tax is paid.
The transfer tax has been lowered from 10% to 8% of the property value by the "Loi des Finances 2008". The Publishing cost (frais de publication) of 1.05% is also paid at the same time. It takes about two months for the Conservation Fonciere to change the name and issue a new title. The name is also changed on tax records, so that the buyer pays future property taxes.

Documents needed:
The Memorandum of Association and Registration at the Company Registry
The Notarized sale agreement
Copy of the Property Title
Proces Verbal (PV) of the survey of the property