Understanding the nuances of Mauritius property for sale as a foreigner unveils various options. The process of buying Mauritius property for sale as a foreigner involves understanding specific legal frameworks and investment schemes.
Legal Requirements for Buying Property for Sale
Mauritius property for sale, whether villas, apartments, or land, offers an array of opportunities for foreigners. Acquiring Mauritius property for sale as a foreigner requires adherence to legal requirements and approved schemes. The minimum investment threshold for foreigners in Mauritius property for sale begins at MUR 6 million for apartments and scales up for luxurious villas in the PDS schemes. Mauritius property for sale within Smart Cities caters to foreigners, offering distinctive urban living spaces. Buying Mauritius property for sale within Smart Cities as a foreigner involves meeting specific conditions and adhering to regulatory standards. Understanding the criteria for purchasing property in Mauritius, particularly apartments in Ground plus 2 schemes, Smart Cities, or residential properties, is crucial for foreigners looking to buy Mauritius property for sale.
Click here to read more on the different real estate schemes in Mauritius.
Residence through Buying Property for Sale
Buying a Mauritian property for sale can eventually lead to permanent residence, attracting foreigners. Getting permanent residence through property investment aligns with the goals of foreigners considering to live in Mauritius permanently. Click here to read more on getting Mauritius residence by investment.
Buying Property for Sale in 2024 Outside Schemes
Foreigners seeking to purchase property in Mauritius outside the current schemes must fulfill specific conditions. They must hold either a residence permit or an occupation permit, and the property’s value should be a minimum of USD 500,000. Procuring the property requires approval from the Prime Minister’s Office. An additional 10% duty applies to buying property outside these schemes.
Notably, the permission to buy one property outside the schemes is granted solely to the primary permit holder. This privilege does not extend to their spouse or children. Moreover, the acquired residential property should be used solely for the non-citizen’s personal residence and not for any other purpose.
It’s crucial to understand that acquiring residential property under these conditions does not automatically grant the non-citizen rights to a residence permit, occupation permit, or permanent residence permit in Mauritius.
Buying Property for Sale as a Retired Foreigner
According to the latest budget, foreign retirees can obtain a residence permit in Mauritius by buying a property. They must be over 50 years old and the property acquisition cost should exceed USD 200,000. Additionally, the property must be part of the Property Development Scheme, designed to accommodate senior living.
Acquiring a residence permit through property purchase can eventually lead to permanent residence, provided that the non-citizen maintains ownership of the property.
At Relocate Mauritius, our expertise lies in assisting foreigners seeking to buy property for sale in Mauritius. As a team of immigration consultants and relocation advisors, we specialise in guiding individuals through the complexities of the property acquisition process, ensuring compliance with eligibility criteria. Additionally, our support extends beyond property acquisition, encompassing assistance in finding suitable accommodation, pet relocation, and settling in. Get in touch.
