Selling and/or Transfer the IRS property

Allowed however the following procedures are involved:

• the current owner is required within 30 days prior to the sale, give notice in writing thereof to the Board of Investment.  A copy of the notice must also be given to the IRS Company
• the person acquiring the residential property is required to submit an application to acquire a residential property under IRS as per the guidelines issued by the Board of Investment
• on transfer of the residential property, the buyer must inform the Board of Investment by way of a letter and submit a certificate from the Notary Public to the effect that the deed drawn has been duly registered and transcribed
• a board resolution from the company’s secretary or director must be submitted to the Board of Investment nominating the non-citizen to reside in the residential property and be entitled to the residence permit