Suriname

Registering Property in

Suriname

Listed below is a detailed summary of the steps, time and cost involved in registering property, assuming a standardized case of an entrepreneur who wants to purchase land and a building that is already registered and free of title dispute.

The information appearing on this page was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standard Property Transfer

  • Property Value: SRD 963,869.21
  • City: Paramaribo

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No. Procedure Time to Complete Associated Costs
* 1 Conduct title search at Lands Office

The lawyer (or parties) will conduct a search on the title at the Lands Office to check ownership, encumbrances and the limitations of the property.

Agency: Office of Title Registry (Mortgage Registry Office). 		2-3 days (Simultaneous with procedure 2) 750 SRD
* 2 Contract survey to assess the true value of the property

The notary will contract the services of a surveyor to assess the true value of the property for tax purposes
5-7 days (simultaneous with procedure 1) 0.2% of the property value
3 Surveyor assessment is verified at Mortgage Registry Office

The notary deposits the Surveyor's report at the Mortgage Registry Office to ve verified and signed off.

Agency: Office of Title Registry (Mortgage Registry Office) 		3 – 14 days No Cost
4 Execute and notarize final sale purchase agreement

Once the Mortgage Registry Office has agreed on the property value, the parties execute the final sale purchase agreement that the notary then notarizes, as required by law. At this time the parties also pay the registration fee (buyer) and the notary fees (between the parties). The notary will transfer the registration fee to the Lands Office when he submits the final sale purchase agreement for registration.
1 day 7% property price (registration fee) + 3% property price (notary fees) + 8% of notary fees (VAT not included in calculation) + 3.5% property price (government levied tax)
5 Notary registers final sale purchase agreement at the Lands Office

The notary brings the final sale purchase agreement to be registered at the Lands Office. After 3 -14 days the Lands Office will send a stamped and registered copy back to the notary.
Documents to be provided:
The original instrument of conveyance + A certified copy of the instrument of conveyance
Valuation report; 4. Zegelrecht “The transfer tax”




Agency: Office of Title Registry (Mortgage Registry Office). 		1 day already paid in procedure 4
6 Buyer receives original deed proving ownership

The notary receives a stamped and registered sale purchase agreement from the Lands Office and delivers it to the buyer.

Agency: Office of Title Registry (Mortgage Registry Office). 		180 days already paid in procedure 4
* Takes place simultaneously with another procedure.
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