How to Buy Property in Mauritius: A Guide for Off-Plan and Ready-Built Purchases
Mauritius has become a top destination for international property investors thanks to its stable economy, attractive tax regime, and enviable lifestyle. Whether you're looking to secure a luxury beachfront apartment before it's built or step directly into a fully completed home, understanding the property purchase process is essential.
This article outlines the two main types of property acquisitions in Mauritius—off-plan and ready-built—along with key regulatory requirements and example payment schedules to help you make informed decisions.
Off-Plan Property Purchases
Buying off-plan means you're purchasing a property before it's constructed, typically at a lower price and with flexible payment terms. The process follows a clearly defined structure:
Step-by-Step Process
- Know Your Client (KYC):
Compliance is mandatory. Buyers must complete KYC documentation similar to South Africa’s FICA regulations. - Signing of CRP (Reservation Contract):
The buyer signs the CRP, which can be in their personal name or through a legal entity/structure. - Initial Deposit:
A deposit of 5–10% of the property value is transferred into an escrow account held by a bank or notary. - Proof of Payment (POP):
This is submitted to the developer as confirmation. - CRP Signed by Developer:
The developer formalizes the agreement by signing the CRP. - Regulatory Approval:
Approval is sought from the Economic Development Board (EDB), which oversees property purchases by non-citizens. - Deed of Sale:
Once the minimum reservation target is reached, the buyer has 30 days to sign the Deed of Sale. This usually involves a further payment of 20–25%. - Progress-Based Payments:
The remaining payments are tied to construction milestones, ensuring financial protection and transparency for the buyer.
Example Payment Schedules and Alternative Structures
1. Example 1
| Stage | Milestone | % Payment | Timeframe | Cumulative % |
|---|---|---|---|---|
1 | Signing of CRP | 2% | Within 5 days | 2% |
2 | Signature of Deed of Sale | 28% | 15–18 months after CRP | 30% |
3 | Construction Start | — | Month 1 | — |
4 | Completion of Foundations | 5% | Month 3 | 35% |
5 | First Floor Slab | 11% | Month 6 | 46% |
6 | Second Floor Slab | 8% | Month 9 | 54% |
7 | Third Floor Slab | 8% | Month 12 | 62% |
8 | Completion of Roof | 8% | Month 18 | 70% |
9 | Boxing-Up | 25% | Month 20 | 95% |
10 | Final Handover | 5% | Month 30 | 100% |
2. Example 2
| Stage | Milestone | % Payment | Timeframe | Cumulative % |
|---|---|---|---|---|
1 | Initial Deposit | 10% | Upon Reservation | 10% |
2 | CRP Signature | 10% | Within 1 week | 20% |
3 | Signature of Deed of Sale | 10% | 1–2 months after CRP | 30% |
4 | Completion of Foundations | 5% | Estimated Month 3 | 35% |
5 | First Floor Slab | 15% | Estimated Month 6 | 50% |
6 | Second Floor Slab | 10% | Estimated Month 8 | 60% |
7 | Roof Slab | 10% | Estimated Month 10 | 70% |
8 | Openings Installed | 20% | Estimated Month 12 | 90% |
9 | Completion of Works | 5% | Estimated Month 14 | 95% |
10 | Final Handover | 5% | Estimated Month 16 | 100% |
3. Example 3
| Stage | Milestone | % Payment | Timeframe | Cumulative % |
|---|---|---|---|---|
1 | Preliminary Reservation | 20% | Upon Reservation | 20% |
2 | Signature of Deed of Sale | 10% | Within 1–2 months | 30% |
3 | Completion of Foundations | 5% | Completed (Month 3) | 35% |
4 | First Floor Slab | 15% | Completed (Month 5) | 50% |
5 | Second Floor Slab | 10% | Estimated Month 6 | 60% |
6 | Roofing (Mise hors d’eau) | 10% | Estimated Month 7 | 70% |
7 | Boxing-Up (Hors d’air) | 20% | Estimated Month 10 | 90% |
8 | Construction Complete | 5% | Estimated Month 14 | 95% |
9 | Key Handover | 5% | Estimated Month 16 | 100% |
Ready-Built Property Purchases
For those looking to move in or start renting immediately, purchasing a completed home or apartment is a more straightforward route:
- Know Your Client (KYC)
- Signing of CRP
- Deposit Payment – Typically 10%, held in escrow.
- EDB Regulatory Approval
- Deed of Sale – The balance (usually 90%) is paid along with acquisition duties and taxes.
Conclusion
Mauritius is not just a dream destination—it's a sound investment haven. With clear regulations, robust legal protections, and structured payment frameworks, investing in real estate here is both secure and rewarding.
Whether you're eyeing an off-plan unit in a beachfront development or purchasing a ready-built villa for immediate occupancy, Mauritius offers a transparent, well-regulated process that welcomes foreign investors with open arms.
Partnering with experienced local consultants like Harcourts Offshore can make the process seamless and stress-free—helping you own a piece of paradise in the Indian Ocean.
