Property for non citizens

Last activity 15 May 2018 by Johns_HK

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Johns_HKActive member09 May 2018 04:45:34

Hi there,

After browsing a lot of different internet, I learnt that for any expat can get the residency through IRS, RES and PDS schemes.

Mauritius Govt recently amended and Acts and allow foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2) with the prior approval of the Board of Investment. The amount payable for the acquisition of an apartment must not be less than Rs 6 million or its equivalent in any other freely convertible foreign currency.

My question: Do Expats allow to buy a property with garden or near beach but not those luxurious RES or PDS schemes? what exactly it means by above ground (G+2) apartment?

Many thanks
Annie

Steve Williams123Member09 May 2018 05:08:29

Expats can only buy property within ‘schemes’. They can be near, but not on, beaches. They can have gardens. They are overpriced.
Ground plus two means three floors, three levels of apartments.

Marie1959New member09 May 2018 05:28:46

Thank you so much for this info.

Johns_HKActive member09 May 2018 05:50:12

Thanks a lot 😁

hunczutpoffaMember12 May 2018 14:06:45

You could purchase an apartment situated on the groundfloor of a 3 story building with private garden and in a coastal region, if you manage to find one (most apartments do not have individual garden), the minimum price for foreigners stipulated by law is 6 million rupees but theoretically you could buy it at a much lower price, the declared price however would have to be at least 6,000,000 and the land transfer tax would be based upon the declared price.

Johns_HKActive member12 May 2018 23:25:32

Thanks

Jackie SweedMember15 May 2018 03:55:48

In order to qualify for residency you will need to spend over US$ 500k. This has to be in one property purchases as you are not allowed to combine property values to add up to US$ 500k.

Hope this helps?

Johns_HKActive member15 May 2018 06:10:32

Thanks

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