foreign buyers & investors
SCHEMES OPENED TO
We list, in this section, the different specific schemes where foreigners are allowed to buy propreties.
They have very selective criteria and allow, in some cases, investment of a minimum amount. Mauritian government has opened access to our lands, keeping in mind, its limited surface area and the strenght of foreign currencies against the Mauritius Rupee.
Without a selective strategy to control foreign investment, property price would fly, leaving Mauritians with less opportunities to match prices.
Property acquisition by foreigners is subject to certain major restrictions, falling under the Non-Citizens (Property Restrictions) Act. A slight misunderstanding of the Law can have serious financial consequences!
Foreigners who wish to purchase immoveable property in Mauritius, whether for personal or business needs, are required to understand the Laws in force and abide to them in any case. Ignorance of Law is not an excuse. Properties wrongly acquired may be confiscated without any hope for reimbursement or compensation.
Besides the Law, property acquisition require prior checking and verification. For instance, to confirm no lien or mortgage rights prevent the sales.
Gibson & Hills will provide you with a full range of services that aim at ensuring your peace of mind. From mortgage checks, legal & financial advice, we are able to cater for all your needs.
Watch out !
Don't fall for it at first sight!
The Non-Citizen (Property Restriction) Act defines and sets the parameters for acquisition of properties by foreigners. The definitions are clear, with no ambiguity.
Sanctions include the simple & clear revocation of deeds of ownership. The buyer who contravenes the Law losses not only his funds but also the property he acquired. To note that any 'arrangments' made to avoid the legal dispositions do not protect the buyer in litiguous situations. Any foreigner who wishes to acquire immoveable properties has to do within the Law. Acquisitions require the prior approval of the Prime Minister's Office. Applications are made to the Board of Investment who further channels the request to the PMO.
There are several schemes designed to allow foreigners acquire properties. These are very specific and declined in distinct schemes.
The main Law
These new schemes have been introduced very recently and caters for an avant-garde set of investment framework for foreign who want to invest in property development in Mauritius
The Smart City concept provides for the creation of new cities with modern technological features, based on defined themes (Eg; education, ICT industry, etc.)
Smart cities &
the PDS scheme. me.
talk to us
Before investing in real-estate
Mark Twain, the famous author, rightly said "Mauritius was made first, and then the heavens were copied from it"
Many of our properties are irresistible.They seem to come out of fairy tales. Acquisition sometimes becomes an obsession. Those who do not have a complete grasp of the Laws & rules applicable to foreigners purchase of immoveable property should contact an expert before engaging themselves.
The Laws in this respect are very strict and do not allow for any contravention to be taken lightly.