Property acquisition in Mauritius by non-citizens

Acquisition of PDS unit in Mauritius by a non-citizen: procedures

The request to purchase a PDS unit in Mauritius should be submitted to the Economic Development Board by an agency specialized in marketing PDS projects. Fees associated with such requests amount to Rs 20 000 (payable by cheque) per request.

Documents to be provided:

• A completed resident permit application form
• A bank letter certifying that the KYC (Know Your Client) exercise was completed
• A notarized copy of the first 5 pages of his passport, his birth certificate
• A notarized copy of the birth certificate of the buyer
• An extract from his criminal record of dated less than 6 months old

Permanent Residence Permit request

Documents required:

• A medical certificate dated less than 6 months old and certifying that the applicant does not suffer from any contagious disease, as is the case for his spouse and children,
• An extract of the applicant’s marriage certificate
• The applicant’s children’s birth certificate, a copy of their passports, a medical certificate for each of them
• An extract from the applicant’s spouse criminal record
• 2 identity photos for each dependent

Acquisition of a PDS unit in Mauritius : mode of payment

When the purchase of a PDS unit is done via off-plan sale, the sales deed is therefore governed by the provisions of the VEFA, under the Mauritian Civil code.  

Payment mode under VEFA: 

• Upon signing of the deed: 25% 
• Upon completion of the foundation works: 10% 
• Upon completion of roofed-in phase: 35% 
• Upon completion: 25% 
• Upon availability of premises: 5%

Foreign property investment in commercial real estate

Non-citizens registered at the EDB are entitled to buy an apartment or a commercial space in a building to further develop their activities (commercial malls, office building, warehouses, PDS projects and Smart City Scheme).

Documents to be provided:

• An application form duly filled in and signed by the director of the company making the application;
• Certificate of incorporation and register of shareholders;
• Business plan with full details on background of shareholders / promoters, the project and implementation schedule, the project financing;
• A site plan from a sworn land surveyor showing the extent and precise location of the property;
• Valuation report of the immovable property from a valuation surveyor;
• A pre-sale agreement (compromis de vente) between the vendor and buyer drawn up by a notary Public in Mauritius or a letter of reservation in case of lease of property;
• Proof of funds emanating from a bank for the acquisition of the property & implementation of the project;
• Where there shall be construction works, Outline Planning permission from the local authority;
• Where an application is submitted by a third party (consultant), a Power of Attorney or a mandate letter given by the applicant to the third party;
• In case of touristic activities such as hotel development, operation of pleasure crafts, restaurant, tour operators, a Letter of Intent from the Tourism Authority.
  

Foreign Property Investment : Smart Cities

A company investing in the development of Smart Cities or in components of Smart Cities benefit from the following tax advantages: 

• Tax exemption on revenue for a time period of 8 years
• Tax exemption on equipment
• Exemption on Customs Duty on equipment import or property acquisition
• Exemption on land transfer tax
• Exemption on land conversion tax relative to surface area allocated to development of non-residential components
• Exemption of land subdivision tax

Important : Upon investing in a real estate property with an Smart City for an amount exceeding USD 375 000, a non-citizen :

• Becomes eligible to Mauritian Residence Permit (for him and his dependents – spouse and children of maximum 24 years old) 
• Is exempted from restriction on rental or resale 
  

Sources : 

www.edbmauritius.org
www.expat.com
https://smarttraveller.mu/