New Regulations for Foreign Buyers in Mauritius

Mauritius, a premier destination for property investment, has introduced new regulations for foreign buyers acquiring residential properties under the Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Invest Hotel Scheme (IHS), Property Development Scheme (PDS), and Smart City Scheme (SCS). These changes, effective from 13 December 2024, aim to enhance transparency and compliance in the Mauritian real estate market.

If you're looking to invest in property in Mauritius, here’s what you need to know about the new mandatory payment and financing rules.

Key Changes for Real Estate Investment in Mauritius

1. Mandatory Currency Requirements for Property Buyers
• 85% Payment in MUR: Non-citizens must now pay 85% of the property price in Mauritius rupees (MUR), after transferring funds from overseas in hard convertible currencies like USD or EUR.
• 15% Payment in Foreign Currency or MUR: The remaining 15% can be paid in either foreign currency or MUR.
2. Enhanced Role of Notaries
• Funds must be transferred to the notary’s account in a hard currency before allocation.
• Notaries are responsible for:
• Transferring 85% in MUR to the promoter.
• Allocating the remaining 15% in foreign currency or MUR.
• Registering deeds within 8 days and paying registration duties in foreign currency.
3. Local Loan Financing Options
• For properties priced above USD 750,000:
• Buyers must transfer the first USD 750,000 (or equivalent) in foreign currency and pay it in MUR.
• A local loan in MUR may be contracted for the balance, with repayments made in foreign currency. 

Comparison of Old vs New Regulations

Aspect		Before 13 Dec 2024		After 13 Dec 2024
Payment Flexibility		Entire price could be paid in foreign currency.		85% in MUR; 15% in foreign currency or MUR.
Notary’s Role		General payment and registration duties.		Mandatory fund transfers per new currency rules.
Loan Financing		Minimum USD 500,000 transferred from abroad.		Minimum USD 750,000 transferred from abroad.

Why These New Regulations Matter for Foreign Buyers

These amendments streamline real estate processes and strengthen the Mauritian economy by ensuring significant use of local currency. Investing in property in Mauritius now comes with a clearer framework that promotes financial security for developers and buyers.

If you're considering luxury property investments in Mauritius, these regulations apply to all new acquisitions under the approved schemes. With its tax benefits, stable political environment, and year-round tropical lifestyle, Mauritius continues to be a prime location for international property buyers.

At Park Lane Properties, we’re here to help you navigate these changes. Contact us for expert advice on how to invest in Mauritius real estate.

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