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Can a Foreigner Obtain a Mortgage in Mauritius?

A 2026 Guide to Property Finance for Non-Citizens

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Quick answer: mortgage finance for foreign buyers

• Foreigners can obtain mortgages in Mauritius, subject to the bank’s credit assessment and the rules applicable to the property.
• For relevant first sales under IRS, RES, IHS, PDS and Smart City, a property priced below USD 750,000 should generally be financed from the non-citizen buyer’s own funds transferred from abroad.
• Where the relevant property price exceeds USD 750,000, the first USD 750,000 must generally be funded from the buyer’s own funds; a local bank loan may finance the balance.
• Repayment of a local loan under this framework must be made in a hard convertible foreign currency.
• The December 2024 amendments do not apply to resales or to G+2 apartment acquisitions.
• Resident non-citizens can have additional flexibility in using qualifying funds held or earned in Mauritius, subject to the EDB rules and supporting evidence.

What changed for foreign property buyers?

Before the December 2024 amendments, a non-citizen buying under the relevant schemes could pay the purchase price in foreign currency or Mauritius rupees provided that the funds were transferred from overseas. Where a local loan was used, at least USD 500,000 had to be transferred from overseas.

The revised rules changed both the currency mechanics and the local-financing threshold for relevant transactions. The EDB states that the amendments took effect on 13 December 2024.

Transaction	Funding position	Local mortgage position
Relevant first-sale property below USD 750,000	Generally financed from the non-citizen’s own funds transferred from abroad to Mauritius.	Local loan is not the standard funding route under these amended scheme rules.
Relevant first-sale property above USD 750,000	First USD 750,000 must generally come from the buyer’s own funds.	Balance above USD 750,000 may be financed through a Mauritius bank, subject to bank approval.
Resale under the relevant schemes	December 2024 amendments do not apply to the resale.	Financing should be confirmed with the bank, notary and advisers for the specific resale.
G+2 apartment	December 2024 amendments do not apply to G+2 apartment sales.	Financing terms should be assessed under the applicable G+2 framework and bank criteria.

The USD 750,000 rule explained

The USD 750,000 figure is not a minimum property price for every foreign buyer, and it is not the residence-by-property threshold. It is a financing threshold within the amended rules for relevant first-sale acquisitions under the specified schemes.

Where the covered property costs more than USD 750,000, the EDB requires the first USD 750,000 — or its equivalent in a hard convertible foreign currency — to come from the purchaser’s own funds. A loan from a Mauritius bank may then be used for the remaining amount of the purchase price.

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Example

A non-citizen purchases a qualifying first-sale PDS villa for USD 1,000,000. Under the amended framework, the first USD 750,000 must generally be funded from the buyer’s own funds. The remaining USD 250,000 may potentially be financed through a Mauritius bank, subject to the bank approving the borrower and the property.

By contrast, if the same type of covered first-sale property costs USD 600,000, the EDB FAQ states that the acquisition should be financed from the non-citizen’s own funds transferred from abroad.

Does the USD 750,000 rule apply to every foreign property purchase?

No. This distinction is essential.

The EDB’s February 2025 FAQ states that the December 2024 amendments apply only to first sales under the IRS, RES, IHS, PDS and Smart City frameworks. The FAQ expressly states that the amendments do not apply to resales and do not apply to apartments sold under the Ground+2 scheme.

A buyer should therefore avoid applying the USD 750,000 rule mechanically to every property marketed to foreigners. The legal acquisition route, whether the property is a first sale or resale, and the buyer’s residence status should all be identified before deciding how much can be borrowed locally.

What are the 85% / 15% currency rules?

For relevant acquisitions covered by the amended rules, the buyer transfers funds to Mauritius from abroad in a hard convertible foreign currency. The notary then ensures that 85% of the consideration is paid to the promoter in Mauritius rupees. The remaining 15% may be paid in Mauritius rupees or in USD, EUR or another hard convertible foreign currency.

The EDB FAQ clarifies that the buyer is not required to transfer 85% from abroad already denominated in Mauritius rupees. The funds are transferred from abroad in hard convertible foreign currency, with the conversion and payment mechanics then handled in accordance with the transaction requirements.

This creates a practical foreign-exchange consideration. A buyer should understand when currency conversion will occur, how staged VEFA payments are treated, and whether exchange-rate movements could change the effective cost of the acquisition.

In what currency must the mortgage be repaid?

Under the amended local-loan framework, the loan itself may be contracted in Mauritius rupees with a bank in Mauritius, but the EDB states that repayment must be effected in a hard convertible foreign currency.

This matters when assessing affordability. A borrower whose income is primarily in GBP, EUR, USD or another currency should consider both the interest cost and the currency exposure over the life of the loan. Bank lending terms, currency availability and repayment arrangements should be confirmed before signing an unconditional property commitment.

What if the foreign buyer already lives in Mauritius?

The EDB FAQ provides important flexibility for resident non-citizens. A holder of an Occupation Permit, Retired Permit or another residence permit may use funds previously transferred from abroad into their Mauritius account, subject to evidence such as proof of transfer and bank statements.

The FAQ also states that a non-citizen who has previously invested in Mauritius or derived income or dividends in Mauritius may use those funds for a property acquisition. Funds received from the resale of a previous property or from rental income may also be used.

For a non-citizen working in Mauritius and deriving income locally in Mauritius rupees, the EDB states that an Occupation Permit or Residence Permit holder with a local MUR account may finance the whole acquisition in MUR. However, where such a resident non-citizen uses a local loan under the financing rule for an acquisition above USD 750,000, the EDB FAQ still states that the first USD 750,000 must be paid from the buyer’s own funds and the remaining balance may be financed by a local bank, with loan repayment in hard convertible foreign currency.

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Important distinction

Residence status can change how qualifying funds already held or earned in Mauritius are treated. It does not mean that every resident foreign buyer automatically qualifies for any mortgage amount. The bank’s credit decision and the property-specific regulatory framework remain separate tests.

Can a foreigner obtain a mortgage for a G+2 apartment?

Potentially, yes. The important point is that the December 2024 amendments described above do not apply to the sale of apartments under the Ground+2 scheme. A G+2 apartment therefore should not automatically be analysed using the first-USD-750,000 funding rule that applies to relevant first sales under IRS, RES, IHS, PDS and Smart City.

The apartment must still be legally available to a non-citizen under the applicable G+2 rules, and any mortgage remains subject to the lending bank’s own credit, valuation, security, income and documentation requirements. The property-acquisition rules and the bank’s willingness to lend are related but distinct questions.

Can a foreigner finance a resale property?

The EDB FAQ states that the December 2024 amendments apply only to first sales and not to resales under the relevant schemes. This is significant because a resale may offer a different financing position from a new unit being sold by a promoter.

However, “not subject to the December 2024 amendments” should not be interpreted as “automatically financeable.” The purchaser must still be eligible to acquire the specific property, and the bank must be willing to lend against it. The buyer should obtain written confirmation of the proposed financing structure before committing to the acquisition.

What will a Mauritius bank consider before approving a foreign buyer?

Regulatory permission to use a mortgage does not oblige a bank to grant one. Each lender applies its own underwriting criteria. Depending on the bank, borrower and property, the assessment can include:

• Income, employment or business earnings and the stability of those earnings.
• Age and the proposed loan term.
• Existing debts, assets, liabilities and overall net worth.Country of residence and the currency in which income is earned.
• Source of funds and source of wealth documentation.
• The property valuation and whether the property is acceptable security to the bank.
• The buyer’s contribution or equity in the transaction.
• The legal acquisition route and evidence of the required EDB or other approvals.
• Bank statements, tax returns, payslips, financial statements or other evidence of repayment capacity.
• AML/KYC checks and the bank’s internal risk appetite.

The maximum loan-to-value ratio, interest rate, repayment period and documentation requirements can therefore differ materially between applicants and banks. Indicative percentages advertised in the market should not be treated as a guaranteed lending entitlement.

Should you obtain mortgage approval before reserving the property?

Ideally, the financing conversation should start before the buyer signs an unconditional commitment or pays a material non-refundable amount. A property may be legally available to a foreigner but unsuitable for the buyer’s intended financing structure. Conversely, a bank may be comfortable with the borrower but unwilling to lend against the particular asset or transaction.

For an off-plan purchase, staged payments can create an additional timing issue. The buyer should understand when equity must be injected, when the bank will release funds, what conditions must be satisfied before drawdown, and what happens if the bank’s final valuation is below the agreed purchase price.

A better sequence for financing a Mauritius property purchase

Stage	What to do
1. Identify the property route	Establish whether the property is PDS, IRS/RES resale, IHS, Smart City, G+2 or another permitted route.
2. Confirm first sale or resale	This can materially change whether the December 2024 funding amendments apply.
3. Establish the buyer’s status	Non-resident and resident non-citizen funding positions can differ.
4. Calculate required own funds	For a covered first sale above USD 750,000, model the first USD 750,000 from own funds before considering local debt.
5. Obtain bank indications	Compare lenders, currencies, term, security, documentation and affordability
6. Verify the regulatory position	Coordinate the bank, notary and relevant professional advisers before signing an unconditional commitment.
7. Plan currency conversion	Understand the 85%/15% payment mechanics where applicable and the FX exposure.
8. Coordinate approval and completion	Make sure EDB/property approvals, bank conditions, valuation, notarial steps and funding timetable align.

Frequently Asked Questions

Can foreigners get mortgages in Mauritius?

Yes. Non-citizens may obtain mortgages from Mauritius banks, but the amount that can be financed locally depends on the property route, whether the acquisition is a first sale or resale, the buyer’s residence status and the bank’s own lending criteria.

What is the minimum deposit for a foreign buyer in Mauritius?

There is no single universal deposit percentage that applies to every foreign buyer and every property. For relevant first-sale acquisitions under IRS, RES, IHS, PDS and Smart City, a covered property above USD 750,000 generally requires the first USD 750,000 to come from the buyer’s own funds. Bank underwriting may impose additional equity requirements.

Can I get a mortgage for a property costing USD 500,000?

It depends on the property route. For a relevant first sale covered by the December 2024 amendments, the EDB states that a property below USD 750,000 should be financed from the non-citizen’s own funds transferred from abroad. Resales and G+2 apartments are not subject to those amendments, so their financing position should be assessed separately.

Can I borrow the whole amount above USD 750,000?

The regulations allow the amount above USD 750,000 to be financed by a Mauritius bank for a covered transaction, but this does not guarantee that a bank will lend the entire balance. The actual loan depends on credit approval, valuation, affordability and the lender’s policies.

Does the USD 750,000 rule apply to G+2 apartments?

No. The EDB FAQ expressly states that the December 2024 amendments do not apply to apartment sales under the Ground+2 scheme.

Does the USD 750,000 rule apply to resales?

No. The EDB FAQ states that the amendments apply only to first sales and not to resales under IRS, RES, IHS, PDS and Smart City.

Can I use money already held in Mauritius?

A resident non-citizen may, subject to the applicable conditions and evidence, use funds previously transferred from abroad. The EDB FAQ also recognises qualifying Mauritius-derived income, investment/dividend income, rental income and proceeds from a previous property sale in the circumstances described in its guidance.

Can I use my Mauritius salary to buy property?

The EDB FAQ states that a holder of an Occupation Permit or Residence Permit who works in Mauritius, earns income in MUR and holds a local MUR account may finance the whole acquisition in MUR. The specific property route and any proposed borrowing should still be verified.

Can the mortgage be repaid in Mauritius rupees?

For a local loan contracted under the amended financing framework for a covered acquisition above USD 750,000, the EDB states that repayment must be made in a hard convertible foreign currency.

Does taking a mortgage prevent property-based residence?

Financing and residence qualification are separate questions. The property must satisfy the applicable residence-by-property rules and threshold. The financing structure must separately comply with the rules governing that acquisition. Both should be confirmed before purchase.

Should I approach the bank or choose the property first?

The two processes should run together. A buyer should establish the legal property route and likely funding requirement before making an unconditional commitment, while obtaining early bank indications on affordability and acceptable security.

Before You Finance a Property in Mauritius

A foreign buyer should treat the mortgage as one part of a wider acquisition plan. The legal right to buy, the regulatory funding rules, the bank’s willingness to lend, the currency exposure and — where relevant — the residence consequences all need to work together.

The key question is not simply “Will a bank lend to me?”

It is:

“Can this specific property be acquired by me, under what funding rules, how much of my own capital must I bring, and will a bank finance the remaining amount on terms that fit my wider Mauritius plan?”

CONSIDERING A PROPERTY PURCHASE IN MAURITIUS?

CONSIDERING A PROPERTY PURCHASE IN MAURITIUS?

Varemont Private assists international individuals, entrepreneurs and families with the practical implementation of their Mauritius plans — including residence strategy, corporate structuring, property acquisition coordination, banking and the practical steps required to establish life in Mauritius.

Where specialist lending, legal, tax or regulated advice is required, we coordinate with the appropriate banks and professional advisers so that the property, financing, immigration and wider structuring decisions are considered together rather than in isolation.

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Regulatory & professional disclaimer

This article provides general information only and does not constitute banking, credit, tax, legal, investment, financial or immigration advice. Mortgage approval and terms are determined by individual banks and depend on the borrower, the property and the applicable regulatory framework. Property, financing, currency and residence requirements can change through legislation, regulations and administrative guidance. Current requirements should be confirmed with the relevant authorities, bank, notary and professional advisers before acting.