Mauritius is opening up further to foreign investors... From now on, non-citizens holding a residence or occupation permit can invest in residential properties with a minimum value of 500,000 US dollars.
Besides the investment cost, potential buyers must provide a full list of documentation, including an authenticated copy of the passport presentation page, proof of residence or occupancy status, a prior agreement with the seller duly authenticated by a notary, and a valuation of the property carried out by an approved valuer.
Once the purchase has been made, the buyer will have to pay the applicable taxes, namely the Tax on Transfers of Ownership, equivalent to 5% of the value of the property, as well as Registration Duty, also set at 5% of the value of the property.
A supplementary tax of 10% of the value of the property will also be levied by the purchaser, along with other conditions which can be found on the EDB website.
It should be noted that these guidelines apply specifically to the acquisition of property outside traditional schemes such as PDS/IRS/RES/SCS. By promoting a clear and transparent regulatory framework, Mauritius confirms its status as a popular destination for international investment in the property sector.
