A mortgage for foreigners in Mauritius is possible: Mauritian banks lend to non-residents, typically up to about 70% of the property value, usually in euros or US dollars. The catch is an EDB rule for new property bought under the IRS, RES, IHS, PDS and Smart City schemes: the first USD 750,000 of the price must come from your own funds transferred from abroad, and only the balance can be financed by a local bank loan, repaid in hard currency. Most foreign buyers therefore pay cash, finance at home, or combine the 2.
That rule surprises many buyers, because older guides and bank brochures still describe 60% to 70% loans without mentioning it. This guide explains when local financing works, when it does not, what the process and costs look like, and how to decide between borrowing in Mauritius and borrowing at home. It was last updated on 18 September 2026.
Mortgage for foreigners in Mauritius: key facts
- Loan to value: Mauritian banks lend non-residents up to about 70% of value, subject to profile and property.
- The USD 750,000 rule: for a first sale under IRS, RES, IHS, PDS or Smart City, the first USD 750,000 must be your own funds from abroad. A loan can cover only the amount above it.
- Repayment currency: loans for these purchases must be repaid in a hard convertible currency such as EUR or USD, not in rupees.
- Funds from abroad: money must arrive in foreign currency and is converted locally. 85% of the price is paid to the developer in rupees, arranged by the notary and bank.
- Interest rates: the Bank of Mauritius Key Rate is 4.75%, raised in May 2026 and held on 12 August 2026. Euro and dollar loans follow international rates more closely.
- Buying costs: 7% to 8% on top of the price, including 5% registration duty, before any loan costs.
- Residency: a purchase of USD 375,000 or more qualifies for a residence permit, whether or not part of it is financed.
Can foreigners get a mortgage in Mauritius?
Yes. Several Mauritian commercial banks lend to non-citizens buying through approved routes, with the property as security. The loan is typically offered in euros or US dollars, matching the currency in which most scheme property is priced and in which the borrower earns.
What limits foreign borrowing is not bank appetite but regulation. Since 13 December 2024, amended scheme regulations set how a non-citizen may fund a first purchase from a developer under IRS, RES, IHS, PDS or the Smart City Scheme:
| Purchase price | How it must be funded |
|---|---|
| USD 750,000 or less | Entirely from own funds transferred from abroad |
| Above USD 750,000 | First USD 750,000 from own funds from abroad, the balance may be financed by a bank loan |
According to the EDB’s published FAQs, these amendments apply to first sales by a developer and do not apply to apartments under the G+2 scheme. Before December 2024 the threshold was USD 500,000. For resale purchases and G+2 apartments, banks apply their own lending criteria, so confirm the position with your bank and notary before you sign a reservation. We covered the background in our article on payment rules for foreign buyers in Mauritius.
What this means in numbers
On a new villa priced at USD 1,500,000, you need at least USD 750,000 of your own money, and a local loan can cover up to the remaining USD 750,000, subject to the bank’s own loan-to-value limit. On a new apartment at USD 600,000, local bank finance is not available at all: the whole price must come from your own funds, which can include money you have borrowed at home.
Buyers already living in Mauritius
Non-citizens who hold an Occupation Permit or residence permit and earn income in Mauritius have more flexibility. They may use funds previously transferred from abroad, local income, investment returns and rental income towards the purchase, and a non-citizen earning in rupees with a local account may fund the whole acquisition in rupees. The USD 750,000 threshold still applies to any local loan.
How much can you borrow and in which currency?
Where local lending is permitted, banks typically lend up to about 70% of the purchase price or valuation, whichever is lower. The exact figure depends on your income, existing debts, age, the property type and whether it is finished or off-plan. Loan terms are commonly up to about 20 to 25 years, usually with a maximum age at the end of the loan.
Currency is the most important decision after the amount. Borrowing in the currency you earn removes exchange risk from the monthly repayment. A buyer paid in euros who borrows in dollars is exposed to the exchange rate every month for 20 years. For scheme purchases, repayment in a hard convertible currency is a legal requirement, so a rupee loan is generally not an option for non-residents.
What interest rate will you pay?
The Bank of Mauritius raised its Key Rate by 25 basis points to 4.75% in May 2026 and kept it unchanged on 12 August 2026. The Key Rate drives rupee lending. Euro and dollar loans made by Mauritian banks are usually priced with reference to international benchmark rates plus a margin, so they move more with the European Central Bank and the US Federal Reserve than with the Key Rate.
We do not publish bank rates in this guide, because they change often and depend on the borrower. Ask each bank for a written indication showing the benchmark, the margin, whether the rate is fixed or variable, and every fee.
How do you finance an off-plan purchase?
Off-plan property in Mauritius is usually sold under a VEFA contract (vente en l’état futur d’achèvement), with payments made in stages as construction progresses. Where a local loan is available, banks generally release funds in tranches against those stages, after your own contribution has been paid.
For most off-plan purchases below USD 750,000, the EDB rule means the stage payments must come from your own funds from abroad. That makes it important to line up financing at home before you sign, and to check how your home lender treats staged payments over 18 to 36 months. Our comparison of off-plan and built properties explains the wider trade-offs.
Should you finance at home or in Mauritius?
| Factor | Local mortgage in Mauritius | Financing in your home country |
|---|---|---|
| Security | The Mauritian property | Your home property, portfolio or other assets |
| Availability | Only above USD 750,000 on first sales from developers | Not affected by the EDB loan rule, as funds arrive as your own |
| Currency | EUR or USD, repaid in hard currency | Your home currency |
| Paperwork | Mauritian bank, notary and EDB coordination | Familiar lender and process |
| Main risk | Rate and currency mismatch if you earn in another currency | Exchange risk between your home currency and the purchase price |
A common structure is a mix: a remortgage or equity release on a home abroad, or a loan against an investment portfolio, to fund the first part of the price, and a Mauritian loan for any balance above USD 750,000. Whatever you choose, the funds must arrive in Mauritius in a hard convertible currency.
How does the local mortgage process work?
- Get an agreement in principle from a Mauritian bank before you reserve, so you know what you can borrow.
- Sign the reservation contract and pay the deposit from your own funds.
- Submit the full loan application with your documents and the reservation or sale agreement.
- Valuation: the bank values the property and issues a loan offer.
- EDB approval: the developer or notary obtains the Letter of Authorisation for sale to a non-citizen.
- Transfer your own contribution from abroad in foreign currency.
- Sign at the notary: the deed of sale and the loan deed are usually signed together, and the bank registers its charge over the property.
Typical documents
- Passport and proof of address
- Recent bank statements and proof of income, such as payslips, tax returns or company accounts
- A statement of assets and liabilities, and details of existing loans
- The reservation contract or sale agreement for the property
- Proof of the source of the funds you are transferring
What does a mortgage cost on top of the purchase?
Budget for these in addition to the 7% to 8% acquisition costs covered in our guide to the cost of buying property in Mauritius in 2026:
- Bank arrangement or processing fee.
- Valuation fee.
- Notary and registration costs on the loan deed and the bank’s charge over the property.
- Life insurance assigned to the bank, and building insurance.
- Currency conversion costs on transfers and repayments.
Registration duty on the purchase itself remains 5%, after the planned rise to 10% was repealed in August 2026. We explain the reversal in registration fees in Mauritius.
Tips before you apply
- Check the rule first. If the property is a new scheme unit below USD 750,000, plan to fund it without a local loan.
- Borrow in the currency you earn. Currency moves can outweigh interest rate differences.
- Get written quotes from more than 1 bank. Compare the margin, fees and early repayment terms, not only the headline rate.
- Ask about staged releases if buying off-plan.
- Prepare source-of-funds evidence early. Banks and notaries apply strict anti-money-laundering checks.
- Keep a buffer. Rates rose in 2026. Stress-test your repayment at a rate at least 2% higher.
Frequently asked questions
Can a foreigner get a mortgage in Mauritius?
Yes. Mauritian banks lend to non-residents buying through approved schemes, typically up to about 70% of value, in euros or dollars. However, for a first purchase from a developer under IRS, RES, IHS, PDS or Smart City, the first USD 750,000 must come from your own funds transferred from abroad, and only the balance may be borrowed locally.
How much deposit do foreigners need to buy in Mauritius?
With local bank finance, expect to put down at least about 30% of the price. On new scheme property, the EDB rule is stricter: the first USD 750,000 must be your own funds, so a USD 600,000 new apartment must be funded entirely without a local loan. Budget another 7% to 8% for buying costs on top.
Can I get a mortgage in Mauritius in euros?
Yes. Loans to non-residents are usually offered in euros or US dollars, and for scheme purchases the loan must be repaid in a hard convertible currency. Borrowing in the currency you earn is sensible, because it removes exchange rate risk from your monthly repayments. Rupee loans are generally reserved for residents earning in Mauritius.
What are mortgage interest rates in Mauritius in 2026?
The Bank of Mauritius Key Rate is 4.75%, raised in May 2026 and held in August 2026. It drives rupee lending. Euro and dollar mortgages from Mauritian banks are usually priced off international benchmark rates plus a margin. Rates depend on the borrower and change often, so ask each bank for a written, dated indication.
Can I finance an off-plan property in Mauritius?
Sometimes. Where local lending is allowed, banks release funds in stages as construction progresses under the VEFA contract. For new scheme property priced at USD 750,000 or less, local bank loans are not permitted, so stage payments must come from your own funds, which can include money borrowed in your home country and transferred from abroad.
Is it better to get a mortgage at home or in Mauritius?
It depends on the price and your situation. Below USD 750,000 on new scheme property, home financing is often the only borrowing option. Above it, a combination works well: own or home-borrowed funds for the first USD 750,000 and a Mauritian euro or dollar loan for the balance. Always borrow in the currency you earn.
Structure the purchase before you choose the property
The financing structure decides which properties are realistic, so a mortgage for foreigners in Mauritius belongs at the start of the search, not the end.
LIVERIA International Realty is a Mauritius-based luxury real estate agency with a presence in Dubai and London, recognised by the Luxury Lifestyle Awards in 2024 and 2026 and by the Global Elite Awards in 2025 and 2026, which named LIVERIA among the Top 100 Companies Worldwide in both years. We work alongside your bank, notary and advisers so international buyers know exactly how a purchase can be funded before they reserve, and we can show off-market properties that fit the structure you choose. Reach us at [email protected].
