Amendments to Property Acquisition Regulations in Mauritius
A New Era for Foreign Investors
Ebene, Mauritius, Africa | 20 February 2025
The Government of Mauritius has introduced significant amendments to the regulations governing the acquisition of residential properties by non-citizens under the following schemes:
- Integrated Resort Scheme (IRS)
- Real Estate Scheme (RES)
- Invest Hotel Scheme (IHS)
- Property Development Scheme (PDS)
- Smart City Scheme (SCS)
These changes, effective from 13 December 2024, are aimed at aligning with evolving economic and regulatory considerations and are expected to bolster foreign investment in the country’s real estate sector.
Key Amendments
1. Mandatory Currency Requirements
Foreign investors acquiring properties under the specified schemes must now adhere to the following payment structure:
- 85% in Mauritian Rupee: Investors must pay 85% of the purchase price in Mauritian Rupee, ensuring a substantial inflow of the local currency.
- 15% in Foreign Currency or Mauritian Rupee: The remaining 15% can be paid in US Dollar, Euro or any other hard convertible currency, or alternatively in Mauritian Rupee.
This represents a shift from the previous practice, where non-citizens had the flexibility to pay the entire purchase price in foreign currency or Mauritian Rupee, provided the funds were transferred from overseas.
2. Notary’s Role and Responsibilities
The amendments emphasise the role of notaries in ensuring compliance with the new payment structure. Upon receiving the purchase price or consideration in hard convertible currency, notaries are required to:
- Transfer 85% of the consideration to the relevant scheme company in Mauritian Rupee.
- Transfer the remaining 15% in either foreign currency or Mauritian Rupee.
Notaries must also register the notarial deed with the Registrar-General within eight days and ensure the payment of registration duties in the relevant currency.
These measures are designed to streamline the process and ensure transparency in property transactions involving non-citizens.
3. Local Loan Financing for High-Value Properties
For properties valued over USD 750,000, the payment process includes an additional layer of local financing.
Implications for Foreign Investors
The recent regulatory changes present a streamlined and transparent process for foreign investors, fostering a more secure investment environment.
Marking a significant shift in the property acquisition process for non-citizens, these amendments aim to stabilise the local currency and foster sustainable economic growth. By requiring a larger portion of the purchase price to be paid in Mauritian Rupee, the Government seeks to strengthen the local economy while continuing to attract foreign investment in the real estate sector.
The amendments underscore Mauritius’ commitment to attracting foreign investment while ensuring economic stability through regulated currency flows.
Investors are encouraged to seize this opportunity and explore the dynamic real estate market in Mauritius, benefiting from the country’s strategic location, favourable business climate and unparalleled natural beauty.
The first USD 750,000 (or its equivalent) must be transferred to Mauritius and paid in Mauritian Rupee. However, the remaining amount can be financed through a local loan in Mauritian Rupee, with repayments made in foreign currency.
For more information about the amendments or to discuss your property investment plans, feel free to contact us at concierge@unikclik.com.
Source: Economic Development Board
