Frequent question: Can foreigners buy property in Mauritius?

On December 20, 2016, the National Assembly voted the Non-Citizens Property Restriction. This law now allows foreigners to buy an apartment in Mauritius. The apartment or apartments must be located in a condominium of at least 2 floors (R + 2), with the prior approval of the Board of Investment (BOI).

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.

Can foreigners buy houses 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.

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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.

Is it good to buy property in Mauritius?

Property for Sale in Mauritius

Mauritius’ property market is one of the best in Africa. And both citizens and foreign nationals can venture into the lucrative sector. One of the reasons why many people are buying property in Mauritius, especially foreigners, is the relaxed laws.

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.

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.

Mauritius.

Republic of Mauritius République de Maurice (French) Repiblik Moris (Morisyen)
Government Unitary parliamentary constitutional republic

Can a foreigner work in Mauritius?

Foreign workers are normally allowed to work for a period of four years. Beyond four years, they are required to swear an affidavit that they will not apply for Mauritian citizenship. Foreign workers are allowed to work in Mauritius as long as they are granted a Residence Permit.

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Can a foreigner get a mortgage in Mauritius?

Foreigners are increasingly attracted by the real estate purchase in Mauritius. … Foreign nationals get easier access to mortgage in Mauritius than in their country of origin, for the reason that banks can be able to mortgage on IRS, RES and PDS real estate projects of these latter on the Mauritian soil.

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.

How do I buy land in Mauritius?

Buying a property in Mauritius in 5 steps

  1. Search and Find the right property. There are many ways to search and find a real estate property in Mauritius. …
  2. Get in touch with the best agencies. …
  3. Carefully check the property specifications and owner’s title deeds. …
  4. Hire a notary. …
  5. Penalty for under-evaluation.

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 do I become a resident of Mauritius?

How to become a resident of Mauritius

  1. Invest in real estate. In order to obtain a Residence Permit, a foreign investor can purchase a property worth at least $375,000. …
  2. Work. A foreigner can also obtain an Occupation Permit, a document that combines work and residence permits. …
  3. Retire in Mauritius.
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Is Mauritius a good place to retire?

The Mauritian government has made a point of attracting foreign investment by placing a favourable and conducive environment for these foreign investments. … Retirees can enjoy a magnificent standard of living in Mauritius. Moreover, it is easy to receive French retirement pensions 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.

What is the average price of a house in Mauritius?

In 2018, the median price of a residence in Mauritius stood at MUR 6.5 million (US$177,375), according to LexpressProperty.com. However the median price of properties under the incentive schemes catering to foreigners was MUR 2o million (US$545,800).