Foreign investors into Mauritius can now buy apartments in developments that were previously unavailable to them by way of the Non-Citizens (Property Restriction) Act as a result of this Act being amended.
Foreign buyers are still required to register with the Mauritian Board of Investment and to obtain a security clearance. Once this has been attended to, the foreign buyers can purchase apartments in any building or development that is more than two storeys high (ground + 2) and which have not been built on lease hold land which occurs along most of the Mauritian coastline. The minimum investment amount is now MUR 6 000 000.00.
Previously foreign buyers could only invest in Integrated Resort Scheme (IRS), Real Estate Scheme (RES) and Property Development Scheme (PDS) properties, which traded in hard currency, unlike the minimum investment amount referred to above.