Acquisition formalities

Formalities during in the acquisition of a villa or a new apartment in the new scheme PDS/RES/IRS in Mauritius

Formalities

The request for the acquisition of a property (Villa or apartment) under the investment scheme PDS (Property Development Scheme) must be submitted to the BOI by the Company (the developer), who has signed with the buyer a Preliminary Reservation Contract (PRC).

The company will deal with the Notary for the creation of an Escrow Account under the buyer’s name and the process Know Your Client (KYC). This application must be done online through the ‘Property Acquisition and Management System’; the developer of this transaction will be having access to it.

A non re-fundable fee of Rs 20, 000 will be paid by the buyer via cheque.

The purchaser(s) is required to produce:

· A duly completed and signed resident permit application form.

· A copy of the first 5 pagesof thepassport certified by the notary

· A copy of the birth certificate (certified by the notary)

· Anextract from your criminal record dating back less than 6 months

· Letterfrom your bank certifying that the KYC*exercisehas been completed.

*Know your customer (KYC) is the name given to the process of verifying the identity of a company's customers.

The requestof the Resident Permit, the following documents need to be produce:

  • A medical certificate certifying that the person does not suffer from any contagious disease dating from less than 6 months. These examinations need to be carry out in France or in Mauritius by completing the following document: Click here
  • An extract from your marriage certificate and the birth certificate of your children under the age of 24. And, if you are accompanied by other members of your family, attach their passports
  • A medical certificate for each of your dependents, women and children (under 24 years old)
  • An extract from your spouse's criminal record
  • 2 passport type passport photos for each dependent.

A local company of the origin SCI, LTD or GBLwishing to acquire a property under the PDSScheme,the following documentsshould bepresented:

  • Registration certificate of the company certifying the registration or the certificate of incorporation,
  • Registration card of the company,
  • Register the shareholders,
  • Resolution of the board from the secretary or the director who is appointed for the foreigner (shareholder, executive director or general manager) to occupy the residential property and stay in the country as a resident,
  • All documents must mention that foreign nationals applying for a license to reside with their dependents.