How to Buy a Property in Mauritius: A Complete Guide for 2024

Mauritius is a dream destination for property buyers, offering stunning landscapes, favorable tax policies, and a high quality of life. Whether you’re looking for a permanent residence, a holiday home, or an investment property, buying real estate in Mauritius can be a smooth process if you know the steps. This guide will walk you through everything you need to know about purchasing property in Mauritius.

Why Buy Property in Mauritius?

Before diving into the process, here are some reasons why Mauritius is an attractive place to invest in real estate:

• Stable Economy: Mauritius offers political stability and a robust economy.
• Favorable Tax System: The country offers attractive tax rates, with a flat income tax of 15% and no capital gains tax.
• Luxury Lifestyle: From beachfront villas to modern apartments, the properties available cater to all tastes.
• Residency Options: Investing in property can grant you residency under specific programs.

Who Can Buy Property in Mauritius?

Foreigners are allowed to buy property in Mauritius through specific government-approved schemes, such as:

1. Property Development Scheme (PDS)
2. Integrated Resort Scheme (IRS)
3. Real Estate Scheme (RES)
4. Smart City Scheme
5. Ground+2 Apartments (For apartments in buildings with at least two floors)

These programs allow non-citizens to own freehold property and sometimes offer the added benefit of obtaining a residence permit.

Step-by-Step Process to Buy a Property in Mauritius

1. 1. Define Your Budget and Preferences
      Decide on the type of property, location, and budget. Consider areas like Grand Baie, Tamarin, Black River, or Ebène, depending on your lifestyle and investment goals.
   2. Research and Select a Property
      Work with a reputable real estate agency to find properties that match your criteria. Ensure the property is part of a government-approved scheme for foreign buyers.
   3. Make an Offer and Sign a Reservation Agreement
      Once you’ve found your ideal property, you’ll sign a reservation agreement and typically pay a reservation deposit (usually 10% of the purchase price).
   4. Apply for Approval from the Economic Development Board (EDB)
      For foreigners, the purchase must be approved by the EDB. This process can take between 4 to 6 months.
   5. Sign the Deed of Sale
      After approval, the final sale agreement (deed of sale) is signed before a notary. The balance of the payment is due at this stage.
   6. Registration and Transfer of Ownership

The notary registers the property, and ownership is officially transferred to you. Registration fees and notary fees generally amount to around 7% of the property price.

Costs Involved in Buying Property in Mauritius

• Registration Fee: 5% of the purchase price
• Notary Fee: 0.5% to 2%
• EDB Processing Fee: Rs 10,000 to Rs 20,000 (Depending on the scheme)
• Agency Commission: Usually 2% to 3% of the property price

Tips for a Smooth Property Purchase

1. Work with a Licensed Real Estate Agent to avoid scams and find legitimate properties.
2. Visit the Property in Person before making any decisions.
3. Consult a Local Attorney to review contracts and agreements.
4. Understand the Residency Benefits if you’re planning to relocate.

Ready to find your dream home in Mauritius? Start your journey today!