In most cases, the buying process is similar to buying an off-plan property, also known as VEFA (Vente en l’état future d’achèvement) in France:
– During a property acquisition as a non-resident in Mauritius, you must make a request at the Board Of Investment (BOI) via your project promoter (anticipate a sum of 10 000 MUR, equivalent to approximately 220 €).
– This request is accompanied with a copy of your passport and the recommendation form of your bank known as “Know Your Customer”.
– In the meantime, you can proceed with the signing of the booking contract with various suspensive clauses.
– Once done, you need to transfer within 7 days, the deposit (5% or 10% of the total) in the escrow account in your name in a Mauritian bank.
– You can make the loan application for the acquisition of your property if necessary.
– Once the authorization to acquire is given by the BOI, you can proceed to the signing of the deed of sale.
– Transfer of 25% or 30% of the total price (5% deposit included).
– The payment schedule is based on the progress of work (based on a 25% payment done at the signing of the deed of sale) :
– 10% – completion of foundations
– 35% – completion of the roof
– 25% – completion of the villas or property
– 5% – keys delivery
Of course, our experts assist you in all your procedures.