Guide for foreigners wishing to buy real estate in Mauritius

Buying process of real estate in Mauritius

 

To acquire property in Mauritius, foreigners need to obtain approval from the Economic Development Board (EDB) after signing a pre-sale agreement with the seller, and then submit the required documents, including a valuation report and proof of funds

1. Initial Steps & Pre-Sale Agreement:
Find a Property:
Locate a property you wish to purchase, whether it's a built property or one under construction (VEFA).

Sign a Pre-Sale Agreement (Promise de Vente):
This agreement, also known as a reservation contract or compromis de vente, is signed with the seller or developer, and it is usually endorsed by a Notary.
Reservation Deposit:
Pay a reservation deposit, typically 10% of the sale price, into an escrow account held by a Mauritian notary.

2. Application to the Economic Development Board (EDB):
Submit Application:
Once the pre-sale agreement is signed, apply to the EDB to obtain authorization to acquire the property.

Required Documents:
Provide the EDB with the following documents:
Application Form
Passport Copy (certified)
Presale Agreement (signed and certified by a Notary)
Valuation Report (from a certified surveyor)
Proof of Funds (letter from a financial institution)
KYC (Know Your Customer) documentation for both buyer and seller
Any other documents deemed necessary by the EDB

Processing Fee:
Pay a non-refundable processing fee of MUR 25,000 for acquisition in IRS/ RES/ PDS
EDB Approval: The EDB will review your application and, if approved, issue the necessary authorization.

Final Deed of Sale (DOS) & Registration:
Sign the Final Deed of Sale:
Once the EDB approval is received and all conditions are met, the final deed of sale can be signed.

Notary Involvement:
An experienced notary will draft the property deed and ensure compliance with Mauritian laws.

Registration:
The notary will submit the signed sale agreement to the Registrar General of Mauritius.

Registration Duty:
Pay a registration duty of 10% of the property value.

The Economic Development Board (EDB) application for a residence permit in Mauritius, once deemed complete, typically takes 3 months or less for processing.

Application Completion:
An application is considered ready for processing by the EDB once all required information, particulars, and documents are submitted and deemed complete.

Processing Time:
Most applications are processed within three months.

Notification:
You will be notified by email if your application has been recommended and approved or not.

E-mail: info@mauritiusproperty.org