Targeting a broader customer base, RES units do not have a minimum selling price as opposed to IRS. Nonetheless, if a RES unit worth more than 500 000 USD (approx. 370 0000 euros) is acquired, the buyer is eligible to apply for a Mauritian Residence Permit, given that he fulfills the required criteria. The permit is valid for 3 years and after after that period, he may apply for a permanent residence permit renewable after a 10-year period.
Registration fees for RES units are set at 25 000 USD (approx, 22 000 euros) or 5% of the selling price, whichever is higher.
Selling a RES unit
A RES unit may be sold either on the basis of a plan, during the construction phase or when the construction is completed. When acquisition of a RES unit is made on the basis of a plan or during the construction phase, the contract shall be governed by the provisions of a "vente à terme"or "la vente se fait selon la Vente en l’état futur d’achèvement (VEFA)", as the case may be, in accordance with the provisions of the Code Civil Mauricien.
Who can buy a RES unit in Mauritius?
- A non-citizen of Mauritius
- A citizen of Mauritius
- A company registered as a foreign company under the Company Act 2001
- A société, where its deed of formation is deposited with the Registrar of Companies
- A trust, where the trusteeship services are provided by a qualified trustee (management company or such other person resident in Mauritius) licensed by the Financial Services Commission
Important : A company holding a Category 1 Global Business License as defined under the Financial Services Act 2007 may acquire a residential property under the RES scheme.
