I got this info from the net. I hope it helps.
Buying property in Mauritius
There are three ways a foreigner can buy property in Mauritius:-
•Option1 :- Immigration laws in Mauritius allow foreign nationals who have been resident in Mauritius for at least three years to become eligible for a Permanent Residence Permit which in turn allows them to buy property on the island. A Permanent Residence Permit is valid for a period of ten years. To qualify, the investor must have generated an annual turnover exceeding Rs 15 million, the self-employed an annual income in excess of Rs 3 million and the professional a basic monthly salary of a least Rs 150,000. As regards to a retired non-citizen, he or she must have transferred at least USD 40,000 every year for three years before becoming eligible for a Permanent Residence Permit. Once again, the holder of a Permanent Residence Permit can buy property on the island.
One practical tip:- Many foreigners retiring or working in Mauritius under an Occupation Permit of three years rent a villa which they have liked over the three-year period with the option to buy it once they get the Permanent Residence status. A special arrangement is made with the villa owner, often through a notary.
•Option2 :- The Integrated Resorts Scheme is one of the two existing schemes (the second one being the RES explained below) under which foreigners are allowed to directly purchase residential property in Mauritius. The word “directly” is used here because in this case and that of the RES, the buyer does not have to go through the three years mentioned above. The IRS caters for the upper end of the market and a minimum price of USD 500,000 is set for a residential property plus a registration duty of USD70,000. Through the IRS, international buyers can benefit from unlimited residence in Mauritius so long as they own the property and this is eligible for the family. This privilege is lost once they sell the property.
IRS projects are equipped with high security, golf courses, wellness centres and other amenities that aim to maximize the comfort of the villa occupants. Please visit the following IRS projects which are completed and where villas may be available for sale:-
Option3 :- The Real Estate Scheme (RES) is the second scheme under which foreigners are allowed to purchase a residential property in Mauritius. The RES caters for property development on a smaller scale than the IRS. Under this scheme, high standard villas are constructed within a development area of less than 10 hectares. The property is also endowed with commercial and leisure facilities. There is no minimum legally-binding price but there are certain conditions attached. Firstly, the registration duty on the purchase of a villa is USD 25,000. Secondly, if the price of the villa is higher than USD 500,000, the buyer gets unlimited residence in Mauritius so long as he/she is the owner of the property - same as it is the case for IRS. On the other hand, if the price of the villa is lower than USD 500,000, there is no unlimited residence that goes with the acquisition of the property. In this case, if the investor wishes to obtain permanent residence, he/she has to go through the steps described in Option 1 over three years.
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