New Regulatory Changes: What You Need to Know
Dolphin Management Services Limited
Dolphin Management Services Limited (“DMSL”) is a duly licensed Management Company in the Republic of Mauritius.
?? Mauritius has introduced major changes for foreign property investors!
Effective December 13, 2024, new regulations under the IRS, RES, IHS, PDS, and SCS schemes bring updated requirements that will impact how investments are structured.
Here’s a breakdown of what’s changing:
?? Key Currency Regulations
? 85% of the property purchase price must now be paid in Mauritius rupees, supporting local currency circulation.
? 15% can be paid in either foreign currency (USD, EUR, or FX) or Mauritius rupees.
?? Notaries’ Role in Transactions
? Purchase payments must be deposited into a notary’s account in hard currency.
? 85% of the funds will be converted to Mauritius rupees and transferred to the property developer.
? 15% of the amount can remain in foreign currency or be converted to Mauritius rupees. ? Transactions must be registered with the Registrar-General within 8 days.
?? New Loan Financing Guidelines
For properties priced above USD 750,000:
? At least USD 750,000 must be transferred into Mauritius and converted into local currency.
? The remaining balance can be financed locally through a Mauritius-based bank.
? Loan repayments must be made in foreign currency.
? Mauritius remains a prime destination for real estate investors—stay informed and invest with confidence! ????