Destination overview Mauritius

Population 1.3 million

Area 2,040 km sq

Timezone GMT +4

Language English, French and Mauritian Creole

The most peaceful country in sub-Saharan Africa, according to Global Peace Index, this multi-cultural island nation off the east coast of Africa is a discerning tourist destination. Home to lush tropical forest, beautiful sandy beaches, clear waters and a mild tropical maritime climate, creating warm humid summers and cool dry winters.

The local cuisine highlights the diversity of the island’s history and culture. Dishes have African, European, Chinese and Indian influence, working with tropical ingredients. The national fruit of Mauritius is the Corossol, also known as the Custard Apple. The friendly local and expat populations, modern infrastructure and connectivity make this a destination for both property lifestyle and investor interest. Focus lies mainly in the North and West popular with tourists, although the East coast is popular for second homes. There have been over 1.3 million tourist arrivals each year recently. Average net rental yields can average 3-4% per annum in tourist areas.

The country has one of the fastest growing economies in the region. Natural beauty and lifestyle aside, there are some financial attractions to owning property here. This includes no Capital Gains Tax, no Inheritance, Gift or Wealth tax. There are forced heirship laws and options so get specialist legal advice. Rules do not apply to property in trust ownership, for example.

Income tax is 15% flat rate, which is no higher than corporate tax. Non-residents pay tax on income generated in country only.

Foreigners can buy a property in one of the approved Schemes; Real Estate (RES), Integrated Resort (IRS), Property Development (PRS) or Smart City (SCS). Or an apartment in a building of at least three floors (inc. ground floor). The purchases needs approval from the Economic Development Board (EDB) and you will require a local bank account. Buying costs vary depending on resale or new and the estate agent will have a breakdown. This will include registration tax, notary fee and share of estate agency fee + VAT (15%).

Consult a specialist lawyer about types of ownership as company or trust ownership may have some advantages or private ownership depending on purpose. An investment of at least US$500,000 in property can buy access to residency for up to 20 years. This is tied to property ownership and you must be tax resident. Other terms & conditions apply. Other residency options include the Premium Travel Visa, which is open to tourists, retirees or remote workers and valid for up to a year. Or an Occupation Permit combining work and residency, appealing to professionals, investors or self-employed. Retired Non-Citizens may qualify for a residency permit with an annual income of US$18,000 upwards.

Over 110 countries have no advance visa requirement for holidays and short visits, including the UK, although entry is at the discretion of the Immigration officer on arrival. Rules may change so do consult your nearest embassy or consulate. Permits and visas are issued by the Passport & Immigration office. Foreigners may qualify for mortgages, typically 60-70% LTV (loan to value). There may be fees.

Our affiliate partners in Mauritius will have specific details on a particular property, and explain all process and costs. They have local specialist contacts too. Get in touch with us and we can connect you.