Mauritius is a tropical island on the southeast coast of Africa.
The island’s land mass measures 2,040 km2, and is 65km long x 45km wide. It is the most popular destination in the Indian Ocean, because of its appealing tropical climate and natural attractions from magnificent beaches to glorious mountains. It’s also the happiest country on the African continent, according to the World Happiness Report 2020 published by the United Nations.
Mauritius has an excellent international reputation due to its political and economic stability, secure legal framework, attractive taxation policies and solid banking system, among others. In addition, the government continues to introduce programmes to facilitate real estate investment in Mauritius.
Over time, the Economic Development Board – Mauritius (EDB) has introduced various incentives for noncitizens and members of the Mauritius Diaspora to invest in real estate in Mauritius. The Property Development Scheme (PDS) now replaces the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES).
The PDS, which has replaced the IRS and RES, allows the development of a mix of residences for sale to noncitizens, citizens and members of the Mauritian Diaspora. Find out about 2Futures projects under this scheme.
PDS Projects, Ki-Resort, Ki-Residences
Under an IRS, the land area of the entire building complex must exceed 10 hectares.
Find out about 2Futures projects under this scheme.
Mont Choisy le Parc
RES properties are usually smaller residential developments built on land ranging between 4,220 and 100,000 m2. While there is no minimum price in an RES, permanent residency is only an option with a real estate investment of at least USD375,000. Find out about 2Futures projects under this scheme.
Cape Bay, Element Bay Beach, Element Bay II, La Residence, AO, Manta Cove, LDGB, LRMC
The Non-Citizens (Property Restriction) Act allows foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2) with government approval. A luxury apartment investment here will cost at least MUR6 million or its equivalent in any other freely convertible foreign currency. This legislation allows noncitizens with or without an occupational permit to invest in more than one luxury apartment. They are also able to rent it out. A minimum investment of USD 375,000 in a G+2 scheme will qualify the buyer for permanent residency.
Vente en État Futur d’Achèvement (VEFA) enables property investors to buy real estate off-plan in Mauritius. Contact 2Futures to find out more about our construction guarantees.
Garantie Financière d’Achèvement (GFA) is a financial guarantee that a buyer will get their property delivered in line with the terms of the contract. If the developer does not fulfil his obligations, the bank will ensure delivery of the property. This is a major advantage to buying a new home in Mauritius.
Local banks will give you the best bond rates and open a bank account for you. A 2Futures consultant will refer you to our partners.
Since the end of the last century, the Mauritius economy has changed dramatically from a purely agricultural production model to a diversified economy based on knowledge and innovation.
Tourism and financial services are the most vital sectors for this island economy. However, Mauritius also relies on its offshore financial activity, textile and sugarcane industries. Meanwhile, medical tourism, outsourcing, new technologies and luxury real estate are among the developing sectors.
We offer the following support to help you buy a residence quickly and easily:
A buyer who spends more than USD 375,000 or its equivalent in any freely convertible foreign currency on a property qualifies for permanent residency for them, their spouse, their children and their parents if they are financially dependent on them.
Fractional Residency is a policy introduced to allow several non-citizens to acquire a residential property as part of a “fractional ownership” making each of them eligible for permanent residency. Their individual investment in the property should each exceed USD 375,000.
For many foreigners, a return air ticket and proof of funds to cover their stay on the island are sufficient.
There are different types of visas requirements for different countries. Do check this list to know about your specific requirements.
However, investors who wish to invest, work and live in Mauritius should request a business visa on arrival. A business visa is valid for 120 days in a calendar year, but successful applicants should not stay longer than 90 days during the first visit.
Retired noncitizens applying for a residence permit should enter Mauritius on a tourist visa. This is valid for 180 days in a calendar year. Dependents of all foreign nationals applying for permits should also enter Mauritius on a tourist visa.
Properties are sold and transferred to purchasers under the VEFA (vente en l’état futur d’achèvement). The VEFA allows investors to buy property that has yet to be built or is under construction. Thus, the seller or developer undertakes to deliver that property to the buyer when construction is complete. The VEFA is a notarial deed of sale that must be signed by the buyer or a designated person with power of attorney in front of the project notary in Mauritius. However, 2Futures can assist the buyer if they are unable to be in Mauritius for this occasion. A notary fee of 1% plus VAT is applicable.
Yes, owners can sell at any point. 2Futures can assist with this process.
2Futures will advise based on how the property is purchased.
The following people and entities may buy property in Mauritius:
Note: A qualified global business as defined under the Financial Services Act 2007 holding a Global Business Licence may acquire property under the PDS.
Yes, a noncitizen or resident of Mauritius can form a trust.
No. A trust must be registered in Mauritius for the purchase of a residential property on the island.
Yes. According to the Sale of Immovable Property Act, Cap 202, 2 November 1868, “a judge in Chambers may, subject to sections 78 and 79, authorise the sale of immovable property belonging to a minor if it is shown to his satisfaction that there is a manifest advantage or an absolute necessity for the sale. Where the sale of an immovable property in the joint ownership of a minor and of a person of age is prosecuted at the instance of the latter, the sale shall be prosecuted in accordance with sections 97 to 118.”
Mauritius law will apply. The Supreme Court of Mauritius is the principal court.
In accordance with the provisions of the Civil Code, latent defects of a non–structural nature are covered by a biennial warranty also known as the proper operation warranty in respect of equipment and fixtures. The latent defects of a structural nature are covered by a decennial warranty. The developer will take out latent defects insurance to cover the latter warranty. There will also be insurance cover for 10 years covering inherent defects in the building structure.
Mauritius has signed a double taxation agreement with more than 40 countries, including France. Income tax for individuals and businesses is 15%. There is no capital gains tax, and no inheritance tax.
There is no housing or property tax in Mauritius. Instead a land transfer tax or BOI tax is levied equal to 5% of the sale value of the property at the time of the purchase.
No, there is no tax on the sale of property in Mauritius.
No, there is no estate tax in Mauritius.
Mauritius is one of the best places in the world to retire because of the attractive tax system. In addition, you get access to improved quality of life, which has a positive effect on health and well-being. Living in the island style never loses its appeal.
Retired noncitizens of Mauritius, aged 50 and more, can apply for a permit to live in Mauritius. There are some financial conditions. An initial transfer of at least USD1,500 or its equivalent in freely convertible foreign currency must be made to their local bank account in Mauritius. The same amount must be transferred monthly thereafter. In the 10 years of the permit’s validity, at least USD54,000 or its equivalent in freely convertible foreign currency must be accumulated. Evidence of the fund transfers must be supplied to the EDB at the end of each year.
The island’s land mass measures 2,040km2. That’s 65km long x 45km wide.
This tropical island is on the southeast coast of Africa.
British Airways, Air Mauritius and Tui all provide direct flights from London to Mauritius.
In addition, Lufthansa, Air France, Turkish Airlines, Air Austral, Emirates (two flights daily), South African Airways and KLM all fly direct to Mauritius.
The Mauritian summer is November to April. Temperatures vary between 25°C and 33°C. It is a tropical island so it can be humid. In winter, which is May to October, temperatures range between 17°C and 25°C. You can swim in the sea all year round. The water temperature is a wonderful 23°C to 28°C throughout the year.
English is the official language. French, Creole and Asian languages are also spoken.
The population is around 1,3 million. It is multicultural, multi-ethnic and multireligious. The islanders live in harmony. Mauritius has a large expat community mainly from France, the UK and South Africa.
According to the World Happiness Report published by the UN, Mauritius is still the happiest country on the African continent.
Mauritius is a multiparty parliamentary democracy. The ruling party is the Militant Socialist Movement (MSM). Prime Minister Pravind Kumar Jugnauth secured a five-year term in the 2019 election.
Mauritius is three hours ahead of Europe in winter and two hours in summer. South Africa is two hours behind Mauritius.
Infrastructures and facilities are modern, especially in the private hospitals and clinics. Public and private healthcare facilities are across the island. Many foreigners travel to Mauritius for cosmetic surgery, dentistry and hair grafting. Wellkin Hospital, the largest private hospital in Mauritius and part of the CIEL Healthcare network, does cardiac and spinal surgeries and high-end orthopaedic and urological procedures as well. Outcomes are really successful.
A pro golfer will smile if you ask them that question. They’ll say it depends on the day. Mauritius has so many amazing golf courses. You can play 9 to 18 holes amid the most spectacular scenery. Mont Choisy Le Golf on the Mont Choisy Golf and Beach Estate is the only 18-hole world-championship golf course in the north. A property purchase here gets you an exclusive and much sought-after membership.
There are good public and private schools. If you want to get your children into the English private schools, send in your applications long in advance so as not to be disappointed.
When you move to Mauritius you can use your own valid domestic licence or an international licence to drive for one month. You need to get a local licence after that.
Traffic is heavy in peak times and around the main business areas. Plan your trips to avoid being on the road then, if you can.
People love to swim, kite, stand-up paddle (SUP), snorkel, hike, cliff jump as well as walk in the nature reserves and mountains and along the beach. There is nothing wrong with lazing on the beach too. Don’t forget your sunscreen, umbrella and hat. In the west, a hike up Le Morne is a must. A hike to the Tamarin Falls is also an incredible experience, as is a visit to the Black River Gorges National Park.
South/southwest: The west is famous for its great kitesurfing conditions. Le Morne’s large lagoon and soft wave break is recommended. More advanced riders can try the One Eye reef break.
North: Cap Malheureux is an option but it is tidal so water levels fluctuate. You can SUP at many of the beaches along the coast though.
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