New Deeds Registry Fees Pegged to USD to Simplify Operations

The Zimbabwean government recently published new regulations updating the fees charged by the deeds registry. The updated statutory instrument pegging fees to the United States Dollar (USD) instead of the Zimbabwe Dollar (ZWL) is aimed at simplifying operations. 

What are the New Fees?

The new fees as per the statutory instrument are as follows:

1. Registration of a Deed of Grant - US$10

2. Registration of documents prepared by a Conveyancer or Notary Public:

     - If stamp duty is payable - US$50

     - If stamp duty is not payable - US$50

3. Registration of a Deed of Donation Trust - US$80 

4. Amendment/Update of Deed of Donation Trust - US$20

5. Noting or upliftment of a caveat - US$20

6. Preparation of report for court by Registrar - US$30

7. Any other act by Registrar not in schedule - US$30 

8. Search conducted for any document - US$5

9. Each register entry extracted for newspaper - US$5 

10. Copy of any document, per page - US$1

11. Certification of any document - US$20

12. Registration as a user - US$120

13. User renewal, per year - US$100

14. Rental of lodging box, per year - US$120

Alternatively, the fees can be paid in Zimbabwe Dollars at the interbank rate. Where stamp duty is payable in USD, then fees must be paid in USD.

Why Peg Fees to USD?

Previously, the fees were pegged in Zimbabwean dollars (ZWL), which has been rapidly losing value recently. Pegging fees using  the volatile local currency meant updating fees regularly to account for currency devaluations. 

By pegging fees to the more stable USD, operations are simplified. Fees automatically reflect changes in the interbank rate without needing frequent updates. Users can simply pay the USD fees or the ZWL equivalent at the interbank rate of the day.

For the deeds registry, having fees in USD also matches their main costs like system licenses and equipment that need foreign currency. Avoiding regular lagging fee updates enhances efficiency and financial planning.

Overall, the USD-pegged fees intend to create consistency and stability for the deeds registry. This improves ease of operations and service delivery.