You have finally found the property you wanted, however the road to becoming a homeowner is only at its beginning …

1. Before signing any deeds and compromise of sale, the Notary or the real estate agency will have to verify your identity (KYC) and the origin of the funds intended for the acquisition. You will have to produce the necessary information (ask us for the list). Delays from 7 to 15 days.
2. Signature of the compromise or the promise to sell at the Notary. *In Mauritius the civil code is derived from the Napoleonic code (French Civil Code) with some particularities.

   To this effect, the French can exchange and be assisted by their Notary if necessary.

   Usually, a deposit will be required (between 0 and 10% of the sale price).

   This amount will have to be paid exclusively into the escrow account of the notary who will draw up the deed of sale.

   In Mauritius, the sale can be made in Rupee (Mur) but also in foreign currency (USD or Euro).

3. The Notary or your representative will have to issue an official request to the Economic Development Board (EDB) in order to ask for an authorization concerning this acquisition (for foreigners).

   Delays between 2 and 3 months.

4. Upon receipt of the “Letter of Aproval” from the EDB, the next step is to sign the deed of sale.

For the acquisition of a residential property, it can take between 2 and 3 months or more for foreigners. For Mauritians, the delay is shorter.

It also depends on the formalities to be completed in case of acquisition by a SCI, LTD, Registred Company or by a Trust or a Foundation.

To reserve a property within the framework of the signature of a compromise or a promise of sale between 0 and 10% of the selling price.

In the context of a loan application, depending on the pre-study carried out by the financial institution, you will be asked to make a contribution of between 20 and 40% minimum.

In Mauritius, there is no particular regulation related to the agent fees, nevertheless, in a usual way, the agents perceive between 2 and 3% without VAT.

Several investment schemes have been put in place by the Mauritian authorities to encourage foreigners to invest and buy real estate in Mauritius.

These schemes are the following:

• IRS: Integrated Resort Scheme
• RES: Real Estate Scheme
• IHS: Investment Hotel Scheme
• PDS: Property Development Scheme
• Ground +2: A building with a minimum of 2 floors in co-ownership.
• Smart City: Intelligent City

For a complete list of current developments, please contact us.