Buying property in Mauritius

Hi Christine,  foreigners can not buy property here but they did just pass a law saying they can buy an apartment.  I do know an expat that some how did buy land and built a house.  He has to pay the government a lot of money for three years.  Well the three years is almost up and he is paranoid that the government will not honor their contract with him and he is worried they will take the property.  He feels this way because he has not got a title or deed and he feels that they won't give him one.  So that's my experience.  Maybe someone else here knows other laws on acquiring property and paying the government for three years.

For expats who wish to buy property in Mauritius. I would suggest to wait atleast for sometime to see where this country is heading and stability in laws. If you have the money , one can always rent a house of his choice and stay in a place of his choice.

There are some info in this site,check it first,them BOI Mauritius
However i can help as im in the realestate field.

Shailen

Sorry but the webmaster in charge of th BOI website has lost his office keys long-time ago. I don't trust this site at all! It has not been updated...and still boasts of permanent residency schemes..which we all know has been freezed.  Some expats do use some fishy structures to purchase immovable property, buti would recommend anybody to do this. The day the veil is lifted (and it will be lofted), you lose your asset and your residence permit along. The only safe way to buy, if can afford,  is through RES or IRS...else rent and enjoy a peace of mind.

You are right,must go for only IRS/RES

I would suggest to hold on for sometime even for IRS and RES till things are more clear. I dont know how easy it is to sell the same IRS or RES property , incase one has to leave the country.

The only safe way to buy, if can afford,  is through RES or IRS...

Can anyone remind us the price of RES and IRS ? I wonder how many "long term expats" can afford these kind of property.

else rent and enjoy a peace of mind.

Believe me, renting can be exactly the opposite

Marry a local, then you can buy property!

I would love to. The only problem is convincing my wife

markdc wrote:

Marry a local, then you can buy property!

Lol @ Terence!

Yes, quite right Julien... Renting sometimes brings a big pain to the neck.

RES has no minimum price officially.  If you want a permanent residency with your RES acquisition then you should buy something not below $500,000.  However, none of the RES promoters do offer anything below $600,000 - again, thinking that Mauritius is the navel of the world. IRS start from $800,000+ and their minimum stated by law is $500,000. I remember one of my clients looking for something withingp $1 million and it was impossible.

markdc, even married, I heard you have to wait something like 4 years ? (it might be completely wrong).

I have no comment regarding IRS.

I wonder how can a long term expat can buy a property for such a huge price ...

Julien, the 4 years waiting is when you want to apply for citizenship.  One of my clients, lucky guy, married a Mauritian girl...and he bought a property (jointly) recently. He had absolutely no problem.  But then let me warn our members that some notaries seem so greedy that they accept to draft sale contracts to foreigners without consorting the Non-Citizens (Property Restrictions) Act.  Due to that, one gentleman has seen his investment of USD900,000 in a villa gone bust.  His acquisition and contract have been declared null and void .... AND the seller is not agreeable for a refund.  Just be careful when you are embarking on those fishy structures that pretend to give you rights to purchase ... Even if proposed by notaries, have a second opinion.

The case I'm referring to here involves one of the most reputed notaries on the island.

Julien, from my observation and experience, there are no consideration for long-term expats. Either you are expats or not, that's how officials and authorities seem to look at it.

Nadeem wrote:

His acquisition and contract have been declared null and void .... AND the seller is not agreeable for a refund.  Just be careful when you are embarking on those fishy structures that pretend to give you rights to purchase ... Even if proposed by notaries, have a second opinion.

The case I'm referring to here involves one of the most reputed notaries on the island.

Please edify my curiosity?

Why should the seller be agreeable for a refund? A sale is a sale so long  there is no lien or major defects ( ou vices cachées) wrt the property.
It's the responsibility of the buyer(s) and his/their notary to ensure that everything is legit for the purchase of a property.
In this case, I believe that it is the wife who is lucky and let's hope that she does not pull a fast one on her husband  like  so many Americans, Europeans or Australians have experienced in Thailand

@ Shailen are you still working in realestate?
If you please can i have your email.I just registered this site to talk to you.

Hi

No, foreigners cannot buy properties in Mauritius. The Non-Citizen Property Act prevent this. This was implemented to protect the local market due to the fact that Mauritius is a small island with a rapidly growing population.

The only way for foreigners to acquire properties is through the IRS, RES or the newly devised IHS (Invest Hotel Scheme). In either case, the minimum investment has to be $500,000.

However, based on the new legislation following the 2013 Budget in November 2012, professionals can now buy an apartment in a building complex of MORE than 2 storeys if you earn a monthly salary of more than USD 3,000 ( MRU. 90,000). This can be done once you have your 'Occupation Permit' in hand. Your spouse and children will also be covered under this new regulation.

As far as I know, expats can only buy through RES / IRS or an apartment from 3rd floor and up. As for foreigners married to Mauritians, I don't think it's a problem, since as far as I know, foreign spouses can do everything except vote until they get their citizenship (can be applied 4 years after living in Mauritius).

If I'm not mistaken expats can buy property for business use only. But they won't be able to live on that property.

Hi Kaviraj,

You seem to be knowing a lot about the IRS/RES. Is it possible to talk to you about it?

Thanks,

Leela

Sleeping Cookie wrote:

If I'm not mistaken expats can buy property for business use only. But they won't be able to live on that property.

Yes in very specific cases. Applications should be made to the Prime Minister's office  and will be considered on an individual basis.

leela.alele wrote:

Hi Kaviraj,

You seem to be knowing a lot about the IRS/RES. Is it possible to talk to you about it?

Thanks,

Leela

Hi

Of course, you can get in touch with me through pm.