From contract signing to handing over your keys, our buying process can take between six and 18 months, depending on the level of customisation within your villa. For newly built properties, construction begins from the following low season (May 15 onwards), and is usually completed within 12 months.
Overseen from start to finish by our experienced team, ownership agreements are structured through a number of on- and off-shore contracts, including a reservation agreement, lease agreement and villa management agreement (the latter is optional for villas which are purchased off-plan).
At handover, villa ownership is transferred to the new owner according to the Tourist Resorts (Transfer of Rights) Rule No: 2010/R-14, a and an application is lodged through the Maldives’ Ministry of Tourism to obtain a ‘strata title’ as evidence of official ownership. Following the purchase, Private Residence owners are subject to a 12 percent local Tourism Goods and Service Tax, which is payable on the gross invoice value and takes into account any rental revenues gained through the Soneva Villa Rental Programme.
We provide a five-year construction warranty on newly built villas and a three-year construction warranty on existing villas. The materials used throughout the construction process are chosen for their durability in the Maldives’ tropical climate, as well as to ensure that they meet our exacting sustainability, quality and aesthetic standards.