For many foreigners buying properties in Ghana, they are simply in want of a tranquil second home, the country has rapidly emerged as a top destination in West Africa. 

From its beautiful sandy beaches along the Atlantic to affordably priced land plots inland just waiting to be developed into residential units, Ghana offers real estate promise for non-citizen buyers whether seeking personal getaway homes or income generating assets to purchase.

As an overseas buyer, questions arise around whether non-citizens can purchase property in Ghana, what taxes and fees apply, and what kind of post-purchase rental income potential exists.

This complete guide from the top trusted real estate developer, Lakeside Estates, covers all that and more. Consider it your property purchase primer before you fly down to start house or land hunting across Accra and beyond!

Can Non-Ghanaians Legally Purchase Property in the Country?

The quick answer is yes! Unlike in other markets, Ghana wholeheartedly welcomes and encourages foreign buyer investment in its real estate sector.

No special permits or residency status are required for overseas purchasers to fully own freehold homes, land or other properties. Ghanaians living abroad can buy too. You can either pay cash or access credit financing from local banks or alternative lenders to secure your asset.

Both housing units as well as open plots of land for potential development are available widely, especially in larger cities. Newer developments even offer payment plans. So rest assured the laws fully allow the realization of your Ghanaian property dreams!

What Tax Implications Exist When Purchasing Assets?

While taxes in Ghana are moderate, compared to the global average, two key property purchase duties do apply to foreign buyers:

1. Stamp Duty: This is a 0.5% fee calculated based on the total value of the sale as captured in the title deed registration. 

2. Property Tax: This ranges between %0.5 to 2% on the assessed property value. 

So ensure you budget for about 2% taxes at the time of finalizing your asset purchase in the country as an overseas buyer. The actual public title deed record will capture the taxes paid accurately for your ownership documentation too.

Generating Income Through Rental Properties As a Foreign Landlord

Many diaspora Ghanaian and general foreign investors do not want to occupy the homes or land they purchase immediately. Instead, they look to rent their assets out, especially in tourist-friendly regions to cover costs.

The good news is the gross rental yields range from 8-11% for residential properties and commercial land development, above returns in many overseas markets. This generates excellent recurring passive income potential. You can easily repatriate rental profits after paying between 8%-15% withholding tax too.

What Legal Support is Available Through Lakeside Estates?

As increasingly more non-resident buyers discover Ghana's stability, natural beauty and affordability, reputed developers like Lakeside Estates provide dedicated support through the acquisition journey - whether you are an overseas Ghanaian, North American or European investor.

From our payment plans to our dedicated team guiding you through inspections, paperwork submission, background financing and providing property management for longer-term leasing, we offer foreign buyers total peace of mind!

Let those daydreams about spectacular ocean vistas or a modern townhome overlooking Accra become a reality for foreigners buying properties in Ghana. Whether you are seeking personal vacation homes or cash flow generating rental investments, we’ve got you covered.