The dollar has no fixed rate with the CFA franc
The CFA franc is pegged to the euro, not to the dollar. Because the euro and the dollar move against each other every day, the number of CFA francs you get for 1,000 dollars changes too. A building budget worked out in dollars in spring may no longer be enough in autumn, or may leave a surplus.
Three habits: set your budget in CFA francs, since that is the currency of your invoices; keep a margin for the exchange rate; and send money at the pace of the build, stage by stage, rather than the whole budget at once. To compare two services, look at the amount in CFA francs that arrives, fees and rate included. An international wire can also go through an intermediary bank that takes its own fee.
On the US tax side: if you open a bank account in Senegal and your foreign accounts together go over 10,000 dollars at any point in the year, you generally have to file an FBAR. Senegalese banks may also ask you for FATCA related forms (to be checked). A US tax adviser will tell you what applies to you.
Power of attorney: consulate general in New York, embassy in Washington
For a relative to sign for you at the notary's in Senegal, they need a power of attorney with a certified signature. From the United States, the most direct route is the Senegalese consulate general in New York, or the consular section of the embassy in Washington, depending on the State you live in (to be checked). A power of attorney made before a US notary public usually needs extra formalities before it is accepted in Senegal (to be checked).
Getting to the consulate can take a whole day: prepare well. Ask the Senegalese notary for their template, check the documents required and the appointment system on the consulate's website, and keep the power of attorney limited to one property and specific acts.
The site works while you sleep
Dakar is on GMT all year round. Depending on your time zone and the season, you are 4 hours (East Coast in summer) to 8 hours (West Coast in winter) behind Dakar: when a crew starts at 8 am in Dakar, it is 3 or 4 am in New York, and midnight or 1 am in Los Angeles. Live video calls from the site are hard to fit in.
Organise things differently: dated photos and a written report you read when you wake up, and a call with the site foreman at the end of the day in Dakar, which falls around noon on the East Coast. And since you will rarely travel, every large payment should come after an independent visit on site.
The documents to prepare
- Your US passport and, if you hold both nationalities, your Senegalese ID card or passport: your name must be spelled the same way everywhere.
- For the plot: land title, lease or council allocation, a recent statement of rights, the boundary survey plan. If your spouse is not Senegalese, check with the notary the conditions for them to appear on the deed (to be checked).
- Proof of every transfer, in dollars sent and CFA francs received.
- The plans, the building permit filed on TELEDAC, the contract with the builder and the payment schedule.
The scams seen from the United States
- The plot sold in dollars on social media, with a drone video: in Senegal, a sale is signed at a notary's and paid in CFA francs. A price in dollars is not a sign of reliability.
- Payment requested through Zelle or Cash App to a go-between in the United States: you are paying a person, not a notary's office.
- The deposit « to lock in the price » before you have seen a single land document.
- The invisible build: you are told it is moving, but nobody can send a dated photo or accept a visit.
From plot to keys: the steps
- Set the budget in CFA francs, with a margin for the exchange rate and the unexpected.
- Have the plot checked: documents at the land office, boundary markers, access, neighbours.
- Sign at the notary's, in person or through a power of attorney, then follow the transfer into your name.
- Have the plans drawn and the file signed by an architect.
- File the building permit on TELEDAC.
- Choose the builder, sign the contract, set the payment stages.
- Build, having each stage checked before paying for the next.
- Handover, water and electricity connections, the keys, someone to watch the house if it stays empty.
Where SEETLU fits
SEETLU observes and proves. We do not build, we do not manage the works, we do not sell materials and we never touch your money: you pay the notary, the builder and the State directly.
- Land check: from 75,000 FCFA, with sealed photos and a written report.
- House plans: from 150,000 FCFA; the file is signed by our partner architect.
- Building permit: we prepare and follow up your file, from 450,000 FCFA, State fees on top.
- Before you build package (land, plan, permit): 650,000 FCFA, State fees on top.
- Site monitoring: from 39,000 FCFA a month, a report within 24 hours in your client area.
- Pre-purchase inspection, if you buy a house that is already built: 125,000 FCFA for the first day.
Building from abroad?
Tell us where your project stands: land, plans, permit or a build under way. Your quote arrives the same day.
Frequently asked questions
Should I send the whole budget at once to get a good rate?
Nobody knows tomorrow's rate. Sending at the pace of the build, stage by stage, limits the exchange rate risk and, above all, the risk of paying for work that has not been done.
Where do I make a power of attorney when I live in the United States?
At the Senegalese consulate general in New York or the consular section of the embassy in Washington, depending on your State. First ask the Senegalese notary which wording they accept.
How do I follow a build with a 6 hour time difference?
By reading proof rather than calling live: with SEETLU, a technician visits the site and within 24 hours you get a report with dated, geotagged and sealed photos in your client area.
Read also: the 7 signs of a construction scam and all our guides.