Purchasing a property in Mauritius has become considerably more beneficial in recent years. After acquiring the property, the applicant not only gets full Mauritian residency, is able to bring his parents, spouse and children with him, but also does not need to get a separate permit to be able to work and do business here. Lastly, the threshold for purchasing a property has dropped from USD 500,000 to USD 375,000. A foreign investor is limited to certain schemes such as PDS and the Smart Cities. There is also the IHS, Invest Hotel Scheme, which enables foreigner to invest in hotels and utilise their hotel property.
The considerations for purchasing a property are:
- Make sure the developer, promoter, builder, architect, Agent and Notary are all reliable.
- Understand the location, water supply, drainage issues, traffic problems etc.
- Make sure the requisite paperwork is in place before signing anything. For example, evidence of a GFA facility (Garantie Financière d’Achèvement), a PDS certificate, insurance etc.
- Look carefully at the CRP (the document you sign when you pay your deposit).
- Consider a structure first, if the property is going to be bought by a company or trust, set this up in advance and understand any consequences of doing so.
- Be aware that timing is almost always a problem here, especially now with Covid-19.
- Understand what options you have for buying and over-research before any money is paid.
What TBI Business Advisors can do for you
- We will have a Zoom/ Teams call or email exchange to understand your requirements.
- We will send a detailed proposal with clear costs, timeframes and explanations.
- We can assist with relocation/ concierge tasks such as helping with schools, accommodation, insurance, choosing locations and then support once you have arrived here.
- We can assist with appropriate permits or visas for coming to Mauritius.
- We can assist with introducing reliable and trustworthy property agents, promoters and Developers, finding and purchasing property or other businesses, and setting up of an entity to purchase through.
- We will assist with setting up companies if you are an investor or just creating a business here
- The directors of TBI can act as a Commissioner for Oaths.
- We can assist with other business advice and can bring in law firms and other specialist services as and when required, with a focus on costs and reliability.