FAQs

FAQs

  • Q
    Buying a property in Mauritius
    Non-nationals must adhere to at least one of the following criteria to be able to buy a property: Buyer should have Mauritian nationality Buyer should be married to a Mauritian under the legal system of Community of Goods and Property. Buyer should buy property under the RES/IRS schemes. Buyers can as of the budget of 2016/2017 bu apartments subject to conditions as per the Non-Citizens (Property Restriction) Act. Previously non-nationals were not permitted to purchase property in Mauritius. However with the latest changes in legislation in 2002 the Mauritian Government decided to open the market to foreign buyers on a restricted basis through RES and IRS, which permits the building and sale of luxury residential units to foreigners in specific locations. Non-nationals are now allowed to acquire residential property in Mauritius under special schemes known as the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). Buying through the IRS scheme automatically grants the purchaser a residence permit In order to acquire residency, the buyer should purchase a residential property bought within a RES for the minimum price of USD 500,000. However, acquirers of a residence permit under the RES /IRS can apply for residency under any of the 4 existing conditions: as an investor, as a professional, as self-employed, or as a retired non-citizen.

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    Q
    RES (Real Estate Scheme)
    The Real Estate Scheme is a regime under which foreign buyers (non-nationals) can own or invest profitably in real estate in Mauritius. It was introduced under the Investment Promotion Act and Investment Promotion (Real Estate Development Scheme) Regulations 2007. A RES framework consists of property developments of smaller scale than IRS projects. Non-residents of Mauritius can acquire a RES property. A residential property may be acquired from a RES company by: a citizen of Mauritius; a non-citizen; a local or foreign company incorporated under the Companies Act; a société; or a trust. Entities holding a Global Business Licence cannot acquire property under the RES. The development has to be 1 acre at least and not exceeding 10 hectares. Under the RES, villas and other residential properties can be sold freehold. There is no restriction on the minimum amount of investment in the acquisition of a residential property under the RES (no minimum price) The acquisition price of the RES has to be at least USD 500,000 to enable the owner and their dependants to get residency. Development of residential units on freehold land of at least 1 arpent but not more than 10 hectares (23.69 arpents). The extent of land that may be used for the development of a single residential property, other than for an apartment or a penthouse, under the RES must not exceed 0.5276 hectare (1.25 arpents). Land transfer tax of 5% is payable by the RES company on the value of the property sold. A registration duty of USD 25,000 is payable by the purchaser Board of Investment Application Fee, which is currently MUR 10,000.

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    Q
    IRS (Integrated Resort Scheme)
    The Integrated Resort Scheme (IRS) is designed to facilitate the acquisition of residential property by foreigners in Mauritius. The IRS is a project for the development and sale of luxurious residential units to non-nationals. At least USD 500,000 (excluding taxes) has to be invested to acquire residential property Development of luxury residential units on freehold land of more than 10 hectares (23.69 arpents). The extent of land that may be used for the development of a single residential property, other than for an apartment or a penthouse, under the IRS must not exceed 0.5276 hectare (1.25 arpents). Land transfer tax of 5% is payable by the IRS company on the value of the property sold. A registration duty of USD 70,000 or 5% of the value of the property, whichever is higher, is payable by the purchaser Board of Investment Application Fee, which is currently MUR 10,000. A residential property may be acquired from an IRS company by: a citizen of Mauritius; a non-citizen; a local or foreign company incorporated under the Companies Act; a société; or a trust. Entities holding a Global Business Licence cannot acquire property under the IRS. The Integrated Resort Scheme allows: For the development of luxurious residential units, on freehold land of more than 10 hectares, to be sold at a price exceeding USD 500,000. High-class leisure and commercial amenities and facilities intended to enhance the residential units. These may include but are not limited to, golf course, marina, nautical and other sports facilities, shopping mall, restaurant and wellness centre. Day-to-day management services such as security, maintenance, gardening, solid waste disposal and household services have to be provided to the residents. For a social contribution in terms of social amenities, community development and other facilities for the benefit of the community.

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