Buying a property in Mauritius
A big attraction for foreigners in Mauritius is property acquisition and investment, whether for personal use or commercial. The real estate in Mauritius market in Mauritius is available for foreign investment, and property acquisition by a foreigner is governed by the Non-citizens (Property Restriction) Act. Therefore, in order to purchase property, you need authorisation from the Board of Investment (BOI), and it needs to be approved by the Prime Minister's Office (PMO).
Under the Property Development Scheme (PDS), which replaces the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES), a non-Mauritian citizen is allowed to purchase different types of residential properties. Furthermore, an investment of over USD 500,000 (or its equivalent in another currency) automatically gives them the residence permit for Mauritius.
Once the buyer has completed the Know Your Client (KYC) exercise and opened an Escrow Account, the procedure for property acquisition is managed by a PDS company.
The application is made online on the Property Acquisition and Management System, a cheque for Rs10,000 must be submitted (non-refundable).
Property Investors - Real Estate Investments
The Non-Citizen (Property Acquisition) Act deals with real estate investments for non-Mauritian citizens. The application for authorisation to invest in Mauritius has to be submitted to the BOI.
An individual with an Occupation Permit is allowed to purchase real estate properties, but only if the following criteria are met:
- A monthly salary of USD 3,000
- A minimum investment of USD 100,000
- A retired non-citizen who transfers USD 120,000 to a local bank account
These three categories of Occupation Permit holders holding a Permanent Resident Permit can buy property in a two-storey (or more) building.
Under the PDS conditions, foreign nationals, Mauritian citizens, and members of the Mauritian diaspora are allowed to acquire different types of residential property, such as:
- The development of luxury residential units on a plot of land of at least one acre
- The development of at least six high-standing residential properties
- The development of quality public spaces for social interaction and a sense of community
- Leisure activities and commercial facilities to improve the environment surrounding the residential units
- Management services for residents, such as maintenance, guarding, gardening, waste disposal, etc.
The PDS, unlike the IRS and RES, does not distinguish between large and small property ownership. The registration fees are at a single rate of 5%.
Units of measurement
Mauritians rarely speak in square metres, and instead measurements such as square feet, 'perche' and 'toise' to describe the land.
- 10.7641 square feet = 1 m²
- 1 perche = 42.21 m²
- 1 toise = 3,80 m²
- 1 acre = 100 perches
- 1 perche = 11.11 toises
- 1 acre = 1,111 toises
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