New rules for Foreign ownership come into effect

Admin March 06, 2024

After nearly two years of anticipation, Mauritius has finally implemented sweeping changes to foreign ownership of property in the country. These approved changes now open property ownership for foreign residents outside of the traditional designated foreigner schemes.

Non-citizen residents now have the ability to acquire any property in Mauritius for residential use, provided it falls within the detailed guidelines that have finally been unveiled by the government of Mauritius. These guidelines pertain to the acquisition of immovable properties outside of the traditional PDS/IRS/RES/SCS schemes, the guidelines for designated foreigner schemes remain unchanged.

Eligibility for Property Ownership (outside of designated schemes)
Under the updated regulations, non-citizen residents meeting specific criteria can now acquire residential properties for personal use. These include:Holders of a Permanent Residence Permit

  • Holders of an Occupation Permit as investors, professionals, self-employed
  • Holders of a family Occupation Permit
  • Holders of a Residence Permit through the purchase of real estate under designated PDS/IRS/RES/SCS schemes 

Criteria and Considerations
Non-citizens are permitted to purchase only one property, either a residential property (house, villa, or apartment) on a plot of land not exceeding 0.5276 hectares (1.25 arpents), or undeveloped land within the same size limit. However, there are restrictions, such as any properties situated on state-owned land or classified as agricultural land.

Price and Tax Implications
To proceed with the acquisition, the property must meet a minimum purchase price of USD 500,000 or more in the equivalent of a strong currency. Additionally, buyers are subject to an additional 10% tax imposed by the new law, and the standard registration duty of 5%.

If this sounds appealing, explore eligible homes for sale, keep an open mind for any renovations or customizations, and possibly find your forever home in Mauritius. 

Explore properties for sale over USD 500,000.
View detailed guidelines by EDB Mauritius.

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