When you buy property in Namibia you pay two duties on top of the price: transfer duty, and stamp duty on the transfer deed. Both changed on 1 October 2024, when the Transfer Duty and Stamp Duties Amendment Acts of 2024 came into force.
Transfer duty for a person
| Value of the property | Transfer duty |
|---|---|
| Up to N$1,100,000 | Nothing |
| N$1,100,000 to N$1,580,000 | 1% of the amount above N$1,100,000 |
| N$1,580,000 to N$3,150,000 | N$4,800 + 5% of the amount above N$1,580,000 |
| N$3,150,000 to N$12,100,000 | N$83,300 + 8% of the amount above N$3,150,000 |
| Above N$12,100,000 | N$799,300 + 11% of the amount above N$12,100,000 |
Stamp duty for a person
Nothing up to N$1,100,000. Above that, N$10 for every N$1,000, or part of N$1,000, of the amount above N$1,100,000.
Examples
- N$1,500,000: transfer duty N$4,000 (1% of N$400,000) and stamp duty N$4,000: N$8,000 in all.
- N$2,000,000: transfer duty N$25,800 and stamp duty N$9,000: N$34,800.
- N$5,000,000: transfer duty N$231,300 and stamp duty N$39,000: N$270,300.
Our transfer duty calculator works out both for any price.
Companies, close corporations and trusts
A buyer that isn't a person pays a flat 12% transfer duty on the whole price, with no duty-free amount, and stamp duty of N$12 for every N$1,000 or part of the whole price. On N$2,000,000 that's N$240,000 plus N$24,000. Since the 2024 changes, buying shares in a company, a member's interest in a close corporation or an interest in a trust that owns residential property can count as buying the property itself.
Farmland with an Agribank loan
A person buying agricultural land with an Agribank advance has a separate table: nothing up to N$1,500,000, 1% of the amount above that up to N$2,500,000, and N$10,000 plus 3% of the amount above N$2,500,000.
Who's exempt
The Act exempts heirs and legatees inheriting property, the State, regional and local authorities, and some religious, educational and charitable bodies. There's no exemption for first-time buyers.
When to pay
Transfer duty is due within six months of buying the property; after that a penalty is added for each month it's late. In practice your conveyancer collects both duties from you and pays them as part of the transfer.
Sources
- Transfer Duty Amendment Act 6 of 2024 (Government Gazette 8444)
- Transfer Duty Act 14 of 1993, consolidated (NamRA)
- Stamp Duties Amendment Act 7 of 2024 (Government Gazette 8445)
- Government Notices 279–281 of 2024: commencement (Government Gazette 8460)
This is general information, not tax, legal or financial advice.