It is possible for foreigners to acquire properties only within the special residential schemes called IRS ("Integrated Resort Scheme") and RES ("Real Estate Scheme"). |
IRS : Under current law, the IRS homes are sold at a minimum price of U.S. $ 500,000. The current prices are generally between 1 million and 4 million Euros on average. |
RES : A residence under RES scheme is not subject to any minimum price but does not confer any automatic right of residence. Persons acquiring a RES residence may, if they wish, apply for residency under other schemes; either as an investor, as a professional employee or as a retiree willing to live in Mauritius. |
The benefits of the RES scheme are:
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Acquisition of a freehold property |
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The right of residence for a period of six months per year with no visa required |
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Sale Off Plan governed by VEFA contracts ensuring financial bank guarantees for good completion. |
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The VEFA contract is a mode of acquisition firmly guided by the law. The French Civil Code is applicable in Mauritius for any property purchased. |
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Upon signing the contract and before completion, the purchaser becomes the owner of land and construction in progress. |
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Opportunities to resale to foreigners in foreign currency |
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