Property in Zimbabwe

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  • #21762

    I have a claimant who has declared that he has a property in Zimbabwe.

    I’m not sure if we have had instructions in a circular advising about how we treat this as capital. Is there a UN / Zimbabwean goverment embargo stopping money being taken out of the country?



    Trevor Kenward

    There certainly has been some form of restriction on the transfer of capital out of Zimbabwe but would suggest you try to ascertain the current situation.
    It may be that the situation there remains that for the forseaable future it might be that the valuation of what a buyer would be prepared to pay is nowhere near what one might normally expect.
    I would suggest you ask the claimant to provide as much evidence as is possible and unless you hold alternative details to accept his information.
    If no evidence is provided then you will have to make a decision based on the evidence held

    You can of course review the situation periodically.

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