Who Can Buy Property in Mauritius?

As a foreigner, you are allowed to buy property in Mauritius, but there are specific conditions to be met. Under Mauritian law, foreigners can buy property in real estate projects specifically designed for foreign investors. These projects are often referred to by acronyms such as :
IRS (Integrated Resort Scheme) : This scheme allows foreigners to buy luxury villas or apartments in tourist resorts. The minimum price of these properties is often high, limiting their accessibility to a certain type of investor.
RES (Real Estate Scheme) : This scheme is similar to the IRS, but offers greater flexibility. Properties purchased under the RES scheme are primarily intended for residential use, not tourism.
PDS (Property Development Scheme) : The PDS allows foreign investors to purchase properties in residential or commercial projects. The minimum purchase price is set at 375,000 USD.

The Process of Buying Property in Mauritius

The process of buying property in Mauritius is relatively straightforward, but requires the intervention of a lawyer and a notary. Here are the main steps :
Choosing the property : Once you've found the property you're interested in, it's advisable to go through a real estate agent or specialist lawyer to negotiate the price and make sure the property is in good standing.
Sign the deed of sale : You'll need to sign a compromis de vente with the seller. The final deed of sale will be signed at the notary's office, guaranteeing that all legal formalities have been complied with.
Payment of notary fees and taxes : The notary will charge a fee that includes taxes on the transaction (around 5% of the purchase price). You'll also have to pay a fee for registering the sale.
Obtaining a purchase authorization : For foreigners, it is mandatory to obtain a government authorization before finalizing the purchase of a property in the IRS, RES or PDS projects.

Buying property in Mauritius can be an excellent investment, but it's essential to understand the laws in force. Make sure you work with qualified professionals, such as a lawyer, notary and estate agent, to guide you through the process. With the right preparation, buying your property in Mauritius can be a smooth process.