❓ Can I Get a Home Loan to Buy Property in Mauritius?
Yes! Foreign nationals are eligible for mortgage loans from Mauritian banks when purchasing property under government-approved schemes. However, new regulatory changes effective from 13 December 2024 introduce updated requirements for currency and financing that buyers should understand.
🏦 Home Loans for Non-Citizens
Mauritian banks are well-equipped to assist foreign buyers and offer a variety of mortgage products with competitive interest rates and flexible terms.
✅ Key Highlights:
- Loan-to-Value (LTV): Up to 70% financing, depending on your profile and property type.
- Loan Terms: Usually up to 25 years.
- Currency Options: Loans may be issued in MUR, EUR, or USD.
- Eligible Properties: Must be in a government-approved scheme: IRS, RES, PDS, Smart City, or IHS.
📋 Required Documents
To apply for a home loan as a foreigner, you’ll typically need:
- Valid passport and residence permit (if applicable)
- Proof of income (salary slips, tax returns, and/or bank statements)
- Signed sales agreement or pre-sale contract
- Asset and liability declaration
- Loan application form (provided by the bank)
🔁 Recent Regulation Changes (Effective 13 Dec 2024)
🆕 Currency Requirement
- 85% of the property price must now be paid in Mauritian Rupees (MUR).
- The remaining 15% can be paid in USD, EUR, or another hard convertible currency.
- Funds must still be transferred from abroad in foreign currency, and then converted locally into MUR.
- Notaries are responsible for ensuring compliance with this currency split.
🆕 Loan Financing for Properties Over USD 750,000
- Buyers must fund the first USD 750,000 from personal foreign-sourced funds.
- Only the balance can be financed through a local mortgage.
- Loan repayments must be made in foreign currency, not MUR.
✅ These changes only apply to first-time sales under IRS, RES, PDS, IHS, and Smart City developments.
🏢 Ground+2 apartment purchases and resales are not affected.
📝 Buyers with signed agreements before 13 Dec 2024 are not subject to these rules unless new tranche payments are due after that date.
🏠 Good News for Resident Foreigners
If you already live in Mauritius and hold an Occupation Permit or Residence Permit:
- You can use local income (in MUR), previous rental income, or returns from past investments to fund your purchase.
- You may also use existing foreign funds previously transferred into Mauritius with valid documentation.
- You’re eligible for a local mortgage on the amount above USD 750,000, provided the initial amount is paid from your own funds.
🤝 How Harcourts Offshore Can Help
At Harcourts Offshore, we work closely with local banks and financial partners to:
- Help you navigate the latest regulatory requirements.
- Match you with the best mortgage solutions.
- Guide you step-by-step through the financing and application process.
📞 Contact us to speak with a property finance expert and ensure your investment in Mauritius is seamless and compliant.
📍 Summary:
- Yes, foreigners can get home loans in Mauritius.
- Understand the currency and down payment rules, especially for properties over USD 750,000.
- Get expert help from Harcourts Offshore to make your dream of owning property in Mauritius a reality.
