Ver Angola

Real Estate

Angola will register 800,000 properties by 2022 and reach 2.9 million by 2025

The Government launched this Friday the Property Registration Massification Program, which aims to register about 800,000 properties by 2022 and approximately 2.9 million properties by 2025.

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At the launch of the program, the Secretary of State for Justice, Orlando Fernandes, said that in a first phase the properties of the new urban centralities will be registered, followed by confiscated and nationalized buildings, as well as buildings that over the years have been built by individuals, without their legal situation regularized.

Orlando Fernandes stressed that the real estate sector is a strategic field of the economies at international level, which generates housing for families, offices for companies, production areas for factories, logistic structures and other infrastructures also for companies.

The governor pointed out that this action is part of the policies of the Executive for the diversification of the national economy and contributes to improving the business environment in the real estate sector.

According to Orlando Fernandes, the lack of documentation that ensures the rights over the property and the failure to conclude the process of legalization "have in fact corresponded to a huge constraint on economic and social development of the country.

"Thus, it is essential to implement the program of massification of the land registry," he said, adding that its implementation is intended to achieve several objectives, including providing greater security and legal certainty to individuals and legal entities regarding the ownership of property on their properties.

To increase tax revenues, through the payment of the Cisa tax (Property Transfer Tax) and the Urban Real Estate Tax, to contribute to the expansion of credit concession from bank and non-banking financial institutions for the acquisition of real estate, using real estate as guarantees to achieve this purpose, as well as to contribute to the improvement of the business environment, diversifying the national economy through the evolution of the real estate market are other objectives.

Orlando Fernandes stressed that the Government also intends to broaden the revenue collection base of the General Treasury of Justice, in order to ensure the realization of structural investments aimed at modernizing the justice services.

For the successful execution of the program that begins this Friday, a joint executive decree of the Ministers of Justice and Human Rights and of Finance was signed Thursday, approving the updating of the emoluments fees for notary and land registry acts inherent to the constitution and transmission, for the first time, of rights over State property for individuals and companies.

"The validity of this legal diploma will certainly constitute a significant step in what concerns the elimination of the negative impact from the economic and social point of view that the process of land registration has represented for families, companies and the State", guaranteed the governor.

According to the Secretary of State for Justice, the reduction of the emoluments fees to 25 thousand kwanzas for the public deed of purchase and sale and also to 25 thousand kwanzas for the land registry, as opposed to the, until Thursday, more than 400 thousand kwanzas that were being paid, "will certainly trigger a greater adhesion of the citizens to the program".

The process will be guaranteed by existing or created computer platforms for land registration, allowing the registry office to be electronically connected to the General Tax Administration, being able to import the land registry certificate from AGT and trigger the entire subsequent process.

The permanent certificate can also be obtained online by the user, after being generated at the registry office.