Mauritius: Guide to Buying Costs and Procedures

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Last Updated: Nov 17, 2006

Mauritius transaction costs are high

How high are realtors’ and lawyers’ fees in Mauritius? What about other property purchase costs?

Transaction Costs
		Who Pays?
Notary’s Fees	0.5% - 2% (+15% VAT)	buyer
Agency Fees	1% (+15% VAT) 1% (+15% VAT)	buyer seller
Registration Fee	10%	seller
Transfer Tax	5%	seller
Site Plan	MUR50,000 (US$1,606)	seller
Stamp Duty	MUR150 (US$5)	seller
Costs paid by buyer	1.725% - 3.45%
Costs paid by seller	18.04%
ROUNDTRIP TRANSACTION COSTS	19.765% - 21.49%
See Footnotes Source: Global Property Guide

How difficult is the property purchase process in Mauritius?

The Government has recently launched programs that allow foreign nationals to own residential properties through various investment schemes.

The Permanent Residence Scheme (PRS) is attractive to foreigners who wish to stay in Mauritius for long periods or visit the country frequently. A minimum investment of US$500,000 in qualified business activities makes a foreigner eligible for permanent residency. This also allows the permanent resident foreigner to acquire 1.25 arpents (5,276 sq. m.) of land, located at least 100 metres away from the seafront for residential purposes.

Under the Integrated Resort Scheme (IRS), foreigners can buy luxury villas in a resort setting of international standards. A property-owner under this scheme is also entitled to a residency permit, which allows the owner and his/her family to reside in Mauritius for the whole duration of the ownership. Each villa can only be up to 1.25 arpents. IRS is open to Mauritius and non-Mauritius citizens, and local and foreign companies under the Companies Act (of Mauritius) 2001.

The Scheme to Attract Professionals for Emerging Sectors (SAPES), targets skilled and talented foreigners who wish to offer their services in Mauritius. This is available for the Information & Communication Technology and Financial Services sectors.

The Board of Investment may approve other sectors to participate in the Scheme. Aside from being able to acquire a residential property, the foreigner can also work and reside in Mauritius for three years, with an exemption from taxes and duties on the importation of household and personal belongings. There is also the possibility of permanent residency.

Footnotes to Transaction Costs Table

The round trip transaction costs include all costs of buying and then re-selling a property – lawyers’ fees, notaries’ fees, registration fees, taxes, agents’ fees, etc.

Currency:
Mauritius uses Mauritius Rupee. Exchange rate is at US$1=MUR31.14009 as of 6th July 2006.