When buying off plan in Mauritius, the legal framework is governed by the Code Civil for VEFA (Vente en l’état future d’achèvement) where the Buyer is 100% protected against any potential default by the Promoter (Developer).
Understanding the VEFA
The below principles apply:
Payments under the VEFA principle are set as follows:
Understanding the GFA
The GFA is a guarantee of due completion where a reputable financial institution is bind towards the Buyer, jointly and in solido with the Promoter, to pay all sums necessary to the completion of the unit purchased until such completion is established as stipulated in the Title Deed.
Flow chart to ownership:
VEFA is the Mauritian Government moderated process for the selling “off plan” units in a project, for an agreed price, with a determined programme for delivery and with scheduled payments as works progress.
The Buyer’s position is fully secured by the fact that the Promoter gives a bank guarantee to them ensuring the completion of the project, and in return, the Buyer provides a guarantee to the Promoter in respect to the complete payment of the purchase price.
The process occurs as follows:
Step 1 - Signature of the Preliminary Reservation Agreement (CRP)
The General Principles:
The Description of the Property:
The Guarantee Deposit:
Step 2 - Economic Development Board (EDB) Acquisition of Property Application:
Permission to acquire a property by the Economic Development Board (EDB) is an essential step in the process of acquiring and granting residence permits to foreign owners and the procedure is as follows:
Step 3 - The Deed of Sale:
Attached to this notification, will be:
Registration and publication of title deed takes around two weeks. After the deed of sale signature, the residence permit application will be processed.
Step 4 - Residency permit application with EDB:
The application must be accompanied by the following documentation:
If the applicant is accompanied by dependents, the following additional documents are required:
Step 5 - Construction and handover process:
If there are substantial defects money can be paid in the ESCROW account and keys only remitted once the issues are resolved Additional Issues to be considered by purchasers:
The contents of these guidelines are intended to be an overview of the process and all parties should refer to their legal counsel in respect to satisfying themselves fully of the process involved.
Monthly Syndicate Levies:
The total levy will range from development to development per month for contribution.
The Co-ownership Syndicate Levy (payable by each owner on the share of the whole assigned to each owner) Per month for landscaping, road maintenance and maintenance of the common areas.
The Estate Levy
As being part of a development and sharing a certain number of areas, equipment and soft services in common, each bloc of owners does contribute to its fair share of the estate management cost. It include utilities consumption, beach and common gardens landscaping & maintenance, soft services as pest control, waste management and security, technical services such as sewerage treatment plant maintenance, storage and distribution of potable water, road and external lighting maintenance amongst others. The allocation of the cost to each stakeholder is deemed to be fair and allocation keys are discussed and agreed by all owners representatives.
All Prices are subject to change.
The state of Mauritius provides free education for all residents from pre-school to university. The schools are well funded and pride themselves on having facilities for extracurricular activities like tennis, soccer and ballet.
Private schools include
Mauritius has several State-run hospitals and city clinics that Mauritians and permanent residents can go to and benefit from free medical services. There are also some private facilities on the island.
However, the country is strict when it comes to bringing in extended supplies of medication and you may need to get the approval of the Ministry of Health, if any are on the controlled drug list. You may not buy antibiotics over the counter without a prescription.
Buses, taxis, motorcycles and scooters are the primary mode of transportation in Mauritius, but expats also have the option to drive if they want to avoid the wave of daily commuters. Foreign nationals can use the driver’s license from their home country for a limited period.
Car rental prices are very competitive. We recommend renting a-vehicle for the first couple of months.
The speed limit in towns and the city is: 40 km/h; Open Roads: 80 km/h and Motorways: 110 km/h. There is zero tolerance when it comes to drinking and driving, with serious consequences if caught.
100% import duties are applied to most private cars and private vehicles.
The first metro for Mauritius is currently being built that will initially service the central plateau to Port Louis.
If you currently have a medical aid we suggest you contact your service provider to see if you could extend your current policy to cover you in Mauritius. For short term travel you should have travel insurance. In Mauritius there are a variety of medical aids available in Mauritius. Whilst they are all different, they all come with a hospital plan and in-patients cover, compulsory Catastrophe cover and optional out-patient cover.
When planning your relocation, it is always critical to determine what is covered in your employment package and what is excluded if you are relocating for new employment.
To prepare your pet’s trip to Mauritius, you will need to scrupulously follow the various steps and recommendations below:
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