What are the tips for investing in real estate in Mauritius?

Why is investing in Mauritian real estate interesting?

Mauritius offers so many real estate investment opportunities that it is often difficult to make a choice. If the first thing to do is to define the area of investment on the island and the range of the investment amount, it is necessary to know which type of property best meets your expectations. Also, becoming a homeowner is relatively easier in Mauritius than in France for example. The real estate sector offers many personal and tax advantages and remains one of the easiest and most reliable way to obtain a permanent resident permit in Mauritius.

What advice do you need to be ready to buy a real estate property?

Made possible by the laws of the Mauritian government, the acquisition of a property in Mauritius by a non-Mauritian is easier than before. It benefits from a legal and economic framework that meets international standards and allows for the protection of foreign investors thanks to the 'Investment Promotion and Protection Agreement'.

The choice of an investment is the result of careful consideration and requires asking the right questions. The first step is to find out about the different characteristics of the properties on the island. The range of choices is large and allows to please different expectations. However, it can also be difficult to find the property that meets all the selection criteria and our BARNES consultants, spread throughout the Mauritian territory, are there to help you in this task. According to your search criteria, it is important to define whether you want to go for a new property or for the purchase of a property already built, but also to find out about the promoters and builders, as well as about the finishes and materials used for the construction of your property.

BARNES Mauritius works with several qualified partners to provide you with a reliable support in legal matters, but also a management company that will facilitate your installation. In terms of finance, we work with Bank One. You can find all the services they offer on their website.

Which scheme suits best your project to invest in Mauritius?

When you want to invest in Mauritius, it is also important to know the type of real estate program. There are different types of real estate program : PDS (which brings together the two former IRS and RES schemes), SCS, IHS, R+2 etc. They allow you to understand how to acquire the property you need. So if you want to invest in a new house, an apartment, a villa... the regulations applied are different. The PDS which replaces the IRS and RES since 2015, facilitates a purchase for a foreign investor and integrates certain ecological standards that allow a guarantee on the property especially in terms of modernity, comfort and respect of the environment.

Moreover, acquiring a property through these different schemes developed by the Economic Development Board allows, from a purchase amount of $375,000, to become a tax resident of Mauritius and to obtain the Permanent Resident Permit.

What are the precautions to take before investing in real estate in Mauritius?

First of all, it is necessary to make sure of the reliability of the real estate developer by asking for a bank guarantee (or Financial Guarantee of Completion for a new property) when the acquisition process is launched. It is generally recommended to be accompanied by professionals in the fields of law, insurance and asset management, which our BARNES consultants in Mauritius will be able to advise you.

If the attention given to the property is important and determining, one should not forget to pay attention to the environment of the property. The location is crucial to ensure that the property meets your expectations : proximity to services, road and other infrastructures, distance from human activities, the neighborhood and the surrounding area.

Our BARNES Mauritius team, present in the five regions of the island thanks to its five agencies is at your disposal for any information and to accompany you in your investment project in Mauritius. We will help you to choose the best solution and advise you to make your purchase. Do not hesitate to contact us here.