A thrilling property update, foreigners, who already are residence permits holders, can now explore a broader range of properties in Mauritius beyond the existing approved schemes. Let’s get into the details. 

Timo Geldenhuys: In my previous videos, I highlighted the numerous avenues for property acquisition, including schemes like IRS, RES, PDS, Ground+2, and Smart City Schemes. However, a pivotal amendment to the Non-citizens Property Restriction Act has emerged, offering new options for property acquisition by foreigners.

This amendment specifically targets existing permit holders, who now have the freedom to invest in properties outside the previously mentioned schemes.

Let’s see the terms and conditions.

Various permit holders qualify. They include:

• The primary holder of a permanent residence permit
• The primary holder of a residence permit issued by virtue of a previous purchase under the aforementioned property schemes
• The primary holder of an occupation permit as an investor, professional, or self-employed individual
• The primary holder of a short-term occupation permit
• The primary holder of a family occupation permit
• The primary holder of a retiree permit

The criteria that the property must meet are as follows:

• The property cannot exceed 5,276 square metres, which is equivalent to 1.25 Arpent
• The property can be a vacant piece of land, a villa, a standalone house, an apartment or penthouse.
• It cannot be agricultural land.
• The land cannot exceed 5,276 square metres in size.
• It cannot be leasehold land, thus excluding all beachfront properties currently under leasehold.

The amendment to the Non-citizens Property Restriction Act sets a threshold for property acquisition by foreigners, requiring a price exceeding USD 500,000 or its equivalent in foreign hard currency, such as Euros or Pounds. 

Standard taxes in Mauritius apply, including a 5% transfer fee and 5% registration duty, that are typically shared between buyer and seller. Moreover, an additional 10% tax is imposed solely on the buyer.

This elevated cost underscores the exclusivity of such acquisitions, tailored for long-term residents who have identified specific properties they wish to purchase outside of the established schemes.

While the premium price reflects the uniqueness of these opportunities, it also opens doors for acquiring family homes within existing residential areas, a privilege not commonly available to foreigners.

If you have any property-related inquiries or needs, please don’t hesitate to get in touch with us at Mauritius Sotheby’s International Realty.

If you have any questions, contact us – info@sir.mu