Buyers guide for Mauritius

Buying as a foreigner

The buyer and seller sign a Contract of Preliminary Reservation. E&V Mauritius applies for EDB authorization on behalf of the buyer. Once approved, both parties sign the Deed of Sale, transferring ownership. If the buyer can't attend, they can appoint a representative through power of attorney to sign.

Securing your purchase on a unit off-plan

Securing a purchase of a unit off-plan in Mauritius involves a process regulated by the "vente en l'état futur d'achèvement" (VEFA) under the Mauritian Civil Code. The promoter provides a "Garantie Future d'Achèvement" (GFA), a future completion guarantee issued by a local bank. This guarantee ensures that the unit will be completed and delivered according to the project's specifications and plans. The GFA is issued to the buyer at the same time as the signing of the Deed of Sale.

Mortage

Local banks are prepared to finance up to 70% of the purchase for off-plan properties and up to 80% for ready-built properties. If financing is necessary, please reach out to E&V Mauritius for support. It's important to note that foreign banks, such as your bank at home, are unable to finance offshore properties, for example, those in Mauritius.

Deposit

Your deposit will be securely held in the escrow account of the selected Notary until the signing of the Deed of Sale. Upon completion of the signing process, the deposit is then released to the Seller as a component of the selling price. Interest is not earned on funds in escrow.

Resident permit

The experienced sales team at E&V Mauritius will guide you through the procedures, while the administrative team will oversee the entire process from application to the acquisition of your Residence Permit.

Your eligibility for permanent residency

Buyers investing over USD 375,000 (or its equivalent in any freely convertible currency) will qualify automatically to apply for a Residence Permit upon property purchase. This permit extends to married couples and their children under the age of 24. However, unmarried partners are not eligible for resident.

Minimum period to stay in Mauritius

Mauritian law doesn't require a specific number of days for a Residence Permit, but to be recognized as a tax resident, you should spend at least 183 days per year in Mauritius. Tax residents must follow Mauritian tax rules on worldwide income. Residency can also be based on spending 270 days over the current and previous two years.

Difference between permanent residence and citizenship

A Permanent Residence Permit (PRP) allows non-citizens to live in Mauritius for 20 years with renewal options, but it doesn't grant citizenship. Citizenship involves becoming a Mauritian citizen and obtaining a passport. While PRP holders can live in Mauritius, they cannot own residential property except under specific schemes. Foreigners can buy commercial properties, but all property purchases require approval from the Economic Development Board (EDB).

Retirement

Retiring in Mauritius is appealing for those aged 50 or older. With a monthly income of USD 1,500, you can obtain a 10-year Residence Permit and can apply for a 20-year Permanent Residence Permit after three years. Non-citizen retirees can buy a residential unit or life rights in approved projects with a minimum price of MUR 6,000,000. They can also apply for residence permits for themselves and their spouse or partner, valid as long as the property is owned or occupied