ACQUISITION OF A RESIDENTIAL PROPERTY

Smartvillas will accompany you in your real estate investment in Mauritius. This purchase allows you to get your permanent resident permit.

The Mauritian government has set up special regimes under which foreign nationals may acquire a property (apartment, duplex or villa) in Mauritius.

The Non-Citizens (Property Restriction) Act has been amended on 20 December 2016 to allow foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2) with the prior approval of the EDB. The amount payable for the acquisition of an apartment must not be less than Rs 6 million or its equivalent in any other freely convertible foreign currency.
Any non-citizen, with or without an occupation permit, residence permit, permanent residence permit, may acquire apartments.

Thus, there is no restriction for non-citizens who wish to acquire:

a residential unit developed under the IRS , RES and PDS
a residential unit developed in a smart city
an apartment located in a building comprising at least two floors above the ground floor.

YOU ARE LOOKING FOR ADVICE REGARDING THE PROPERTY MARKET IN MAURITIUS

Our team at Smartvillas Property is always up to date with the different projects in Mauritius and we aim to present you the right overview of the property market. Our goal is to listen to your needs and advise you objectively on your investment. We know our island by heart, the different projects, the quality of construction, the reputation of the promoters and the maintenance teams once the project is completed.

The sale of real estate programs is under the legal French principle called VEFA (Vente en état futur d’achèvement), which guarantees the successful completion of the program, because a bank or company gives a GFA (A Warranty End Completion). At the signing of the deed of purchase, your first payment (payment is made in several payments based on the progress of construction) is deposited in an account where the money is blocked and opened in your name in a Mauritian bank. The bank releases the money when the promoter starts the construction. They can begin only if 70% of the program has been sold since the GFA is given by the company that offers that condition.This system is implemented in the interest of the individual buyer.

The tax treatment is also an important factor in your choice. There is a tax treaty between France and Mauritius.

The advantages are significant.

•  The income tax is of 15%
•  No property or housing tax
•  No tax on the capital gain on resale of property
•  No CSG, RDS or IFI
•  No inheritance tax.

Beyond the financial aspect is also the desire of a new life that will motivate your purchase. Mauritius is the sun, the sea, friendly people and also …

•  Good English and French schools
•  A health environment with private clinics and qualified doctors
•  Languages spoken: French and English for easier adaptation

Discover these projects in the “Real Estate Projects” section with further details about the IRS and RES projects.