On June 7th, the new budget for 2022 – 2023 titled ‘ With the People, For the People’ was presented in an unprecedented global economic context. The government of Mauritius through different measures has shown a renewed interest in the development of the country and in further attracting and retaining foreign talents. It is clear that the proposed measures aim to facilitate property acquisition while also increasing the quality of life through improved infrastructures. With MUR 2.6 billion to be invested in projects such as road connectivity and additional efforts being put towards the cleaning and embellishment of the environment, this budget further boosts Mauritius’ attractiveness as the perfect place to settle and grow.
The 3 key measures introduced to encourage property acquisition are as follows :
The Home Ownership and Home Loan Schemes have been extended. Under these schemes, a 5% refund up to MUR 500k is made available to the buyer.
Holders of Residence Permits can also apply to acquire a residential property of a minimum of USD 350,000 outside the existing schemes, subject to a 10% contribution made to the Solidarity Fund.
Couples married under the regime ‘Corps et Bien’ can benefit from the exemption of registration duty for the first time buyer