The acquisition or lease of immovable property by a majority foreign-owned company is subject to discriminatory transfer duty tax (30% vs. 5% in the case of a transaction involving a citizen of Botswana or companies majority-owned by Botswana citizens). In 2023, the Botswana's Unified Revenue Service issued the Transfer Duty Amendment Act 5 of 2023 ("Amendment Act") which reduced the rate of transfer duty to non-citizens from 30% to 10% of the purchase price or value of property up to 2 million pula ("P"), and 15% of the purchase price or value of property in excess over P2 million.
"2. Imposition of transfer duty
(1) Except as otherwise provided in this Act, a duty (hereinafter called "transfer duty") at the rate specified in subsection (4), shall be payable upon the purchase price or value of any immovable property, whether-
(a)   freehold; (b) held from Government upon quitrent or other leasehold tenure; (c) sold or otherwise alienated or transferred; or (d) held under a customary land grant in the form of- (i)   a registered lease which runs or is capable of running at the option of the lessee for 10 years or more, or (ii) a registered grant, lease or concession of tribal land.
(2) Transfer duty shall be payable by- (a) the purchaser of any such property; (b) every person becoming entitled to any such property by way of exchange, donation, legacy, testamentary or other inheritance or in any manner otherwise than through the medium or by means of purchase and sale; (c) every person into whose name any such property registered in the Deeds Registry in the name of any other person is to be registered or transferred; (d) every lessee who registers a lease of immovable property, which runs or is capable of running for a period of 50 years or their aggregate period; and (e)   every person who registers a grant or concession including a tribal land lease or concession.[...]
(4) The rate of transfer duty referred to in subsection (3) shall-
 (a)   in the case of a transaction involving any immovable property sold or alienated-
  (i)   where the person liable to pay the duty is a citizen of Botswana, be P5 per centum; and
  (ii)   where the person liable to pay the duty is not a citizen of Botswana, P30 per centum;
  (iii)   where the person liable to pay the duty is an entity which is neither a natural person nor a company, P5 per centum; and
 (b)   in the case of a customary land grant, be calculated on the aggregate rental payable or on the value of the immovable property leased, whichever is greater.[...]
(6) For the purposes of this section-
"agricultural land" means any land, other than land in a township, used or capable of being used for the purposes of agriculture or horticulture or for breeding or keeping domestic animals, poultry or bees;
"citizen of Botswana" includes a company incorporated in Botswana and of which a majority of every class of equity shares is held by citizens of Botswana.
3.   Transactions involving immovable property
(1) Where the effect of the issue of any shares in any company or a change in the beneficial ownership of any of the issued shares in any company is to pass the control of or entitlement to benefit from any immovable property from one person to another, such issue of shares or change in beneficial ownership shall constitute a transaction involving immovable property for the purposes of section 2..[...]" (CHAPTER 53:01 TRANSFER DUTY Act of 1891)
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"The Botswana Unified Revenue Service ("BURS") has published Guidelines to the Transfer Duty Amendment Act 5 of 2023 ("Amendment Act"), as follows:
1) Introduction [Paragraph A] [...]
b) The Amendment Act addressed the implementation challenges of the Transfer Duty Act 6 of 2003 ("Act"). The challenges include:
i) The requirement for new allocations of state and tribal land to be subject to the Act;
ii) The impact of the 30% transfer duty payable by non-citizens on transfer of immoveable property;	
iii) The cost implication on many of the citizens especially that the Act requires transfer duty to be paid on tribal land; and	
iv) Provision of valuation reports for all transactions irrespective of exemption status.
[...]
4) Change in rate for non-citizens [Paragraph E]
The amendment Act introduces a reduction in the rate of transfer duty to non-citizens from 30% to 10% of the purchase price or value of property up to 2 million pula ("P"), and 15% of the purchase price or value of property in excess over P2 million[...]' (Botswana: Unified Revenue Service – Guidelines for the Transfer Duty Amendment Act, 2023, dated 10 May 2023)
CHAPTER 53:01 TRANSFER DUTY Act of 1891
Botswana: Unified Revenue Service – Guidelines for the Transfer Duty Amendment Act, 2023, dated 10 May 2023
[<a href="https://botswanalaws.com/alphabetical-list-of-statutes/transfer-duty">Act</a>],[<a href="www.burs.org.bw">Guideline</a>]