Mauritius continues to attract discerning property investors from around the globe. However, new regulations introduced by the Economic Development Board (EDB) of Mauritius — effective as of 13 December 2024 — are changing the way non-citizens can acquire residential properties under the IRS, RES, IHS, PDS, and SCS schemes. If you’re considering investing in Mauritius real estate, this update is crucial.
What Are the New Payment Regulations?
The latest amendments require non-citizens purchasing properties under these government-approved schemes to pay:
- 85% of the purchase price in Mauritius rupees (MUR) — after transferring funds from overseas in a hard convertible currency (USD, EUR, or equivalent).
- 15% of the purchase price in either foreign currency or Mauritius rupees.
Why These Changes?
These amendments are designed to strengthen the Mauritian economy, stabilize foreign currency inflows, and ensure better alignment with the country’s financial and regulatory strategies.
The Role of the Notary
For foreign buyers, the notary plays a pivotal role. According to the new regulations:
- The full purchase price must first be transferred to the notary’s account in a hard convertible currency.
- The notary will then transfer 85% of the funds in MUR and the remaining 15% either in foreign currency or MUR to the developer.
- Registration of the notarial deed must be done within 8 days, with registration duties paid in foreign currency.
Local Loan Financing Rules
For properties priced over USD 750,000:
- The first USD 750,000 (or equivalent) must be transferred from abroad and paid in MUR.
- Buyers can finance the balance through a local bank loan in MUR, with loan repayments made in a hard convertible currency.
Who Does This Impact?
These rules apply to all new acquisitions under the IRS, RES, IHS, PDS, and SCS schemes from 13 December 2024 onward.
Does It Apply to Resales / Secondary Market?
No, these new payment rules do not apply to resale or secondary market transactions. They are only applicable to new property acquisitions under the IRS, RES, IHS, PDS, and SCS schemes.
What About the G+2 Scheme?
Good news for investors looking at G+2 properties: these regulations do not apply to the G+2 scheme. Under G+2, buyers can still pay the full purchase price in foreign currency and benefit from financing options under USD 750,000.
What Does This Mean for You as an Investor?
At LIVERIA, we guide our international clients through every step of the Mauritian property acquisition process. These new regulations highlight the importance of structured financial planning and working with experienced professionals. Ensuring that your funds are transferred correctly and in compliance with these new laws is essential.
Why Invest in Mauritius Now?
Despite these regulatory adjustments, Mauritius remains one of the most attractive destinations for luxury real estate investment:
- Stable economy and strong governance
- Attractive residency benefits with property purchases over USD 375,000
- Tax advantages and a favorable investment climate
Let LIVERIA Be Your Trusted Partner
Navigating changing regulations can feel overwhelming, but with LIVERIA, you’re never alone. We stay one step ahead, ensuring our clients benefit from compliant, smooth, and stress-free transactions.
Are you ready to explore luxury real estate investment opportunities in Mauritius? Contact us today and let us help you make the right move!
