The Mauritius property market has evolved a lot over the past decade. In 2001-2002, the Government implemented an integrated resort scheme to allow foreigners to buy luxury property in Mauritius and benefit from the Permanent Residency Permit.
Can foreigners own land in Mauritius?
Who Can Buy a Property in Mauritius? Mauritian citizens and foreigners residing in the country or abroad can acquire Mauritius properties as long as they abide by the laws put in place. Over the years, the real estate market has been evolving in the country, opening aspiring investors’ opportunities.
What Properties Can foreigners buy in Mauritius?
All you need to know on how a foreigner can buy property in Mauritius
- Integrated Resort Scheme (IRS) …
- Real Estate Scheme (RES) …
- PDS (Property Development Scheme) …
- The Smart City Scheme. …
- Apartments (in a Ground + 2 complex) …
- Invest Hotel Scheme (IHS) …
- Guesthouse. …
- Commercial or Business Developments.
How do I buy land in Mauritius?
Buying a property in Mauritius in 5 steps
- Search and Find the right property. There are many ways to search and find a real estate property in Mauritius. …
- Get in touch with the best agencies. …
- Carefully check the property specifications and owner’s title deeds. …
- Hire a notary. …
- Penalty for under-evaluation.
Can a foreigner buy agricultural land in Mauritius?
As a foreigner, you cannot buy land in Mauritius. Land is only available on long term lease for big development projects after approval from the Prime Minister’s Office.
Can foreigners buy commercial property in Mauritius?
How can a non-citizen buy property in Mauritius ? … > Non citizens can buy property in approved resorts : Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Invest Hotel Scheme (IHS), Property Development Scheme (PDS), Smart City Scheme (SCS).
How much money do you need to immigrate to Mauritius?
The minimum investment required to obtain an Occupational Permit (OP) has dropped from $100 000 to $50 000, while permanent residency permits through property investment have dropped from a threshold of $500 000 to $375 000. Retirement permits were valid for only three years but have now been extended to ten years.
What country owns Mauritius?
France took control in 1715, renaming it Isle de France. In 1810, the island was seized by Great Britain, and four years later France ceded Mauritius and its dependencies to Britain.
|Republic of Mauritius République de Maurice (French) Repiblik Moris (Morisyen)|
|Government||Unitary parliamentary constitutional republic|
Is it worth investing in Mauritius?
The country’s crime rate is also relatively low, making investors, both citizens and foreigners, feel safe in their doings. Investments funds in Mauritius have also become a popular option for both local and foreign investors. The tourism sector is one of the main revenue-generating drives in Mauritius.
How much money do I need to retire in Mauritius?
You should be at least 50 years old. Have a Mauritian bank account to transfer $2500 before application submission. The account should also have at least $40,000 annually and consistently deposited for at least three years with proof of the amount’s transfer to the Board of Investments.
How can I get permanent residency in Mauritius?
A permanent residence permit in Mauritius is granted if you buy a real estate property in the country under purchase plans approved and managed by the government’s EDB.
How do I become a resident of Mauritius?
A Retired Non-Citizen can apply for an initial ten-year Residency Permit. The requirements are to make an initial transfer of at least USD 1,500 or its equivalent in freely convertible foreign currency at the time of issuance of the permit to his/her local bank account in Mauritius.
Can you retire in Mauritius?
Retiring in Mauritius may be your best choice of residence if you are aged 50 or above. A Retired Non-Citizen is defined as a person who is not a citizen of Mauritius and aged 50 years or above. A Retired Non-Citizen can apply for an initial ten-year Residency Permit.
Can I build a house on agricultural land in Mauritius?
Pre-construction checklist: Where a plot of land is classified as agricultural land and is to be used for non-agricultural purposes, an application for a Land conversion permit should be made to the Ministry of Agro Industry and Food Security.
Can you own property in Mauritius?
In Mauritius, a Permanent Residence Permit can be obtained through purchasing a property, at the value of US $500,000 or higher, which is part of a Property Development Scheme (PDS). … In order to take advantage of fiscal residency, permit-holders must spend at least 183 days a year in Mauritius.
How much does it cost to build a house in Mauritius?
Estimate the cost based on the area
For example, if the selling price of the house is Rs 2 million and the land costs Rs 800,000; then the construction will cost you around Rs 1.2 million. If the area of the house is 1,500 square feet, then the cost per square foot is Rs 800.