ACQUISITION PROCESS


The 3-step acquisition process for an IRS property in Mauritius:

1

Signature of the CRP


Signature of the CRP (Contrat de Réservation Préliminaire): reservation agreement between the buyer and the IRS company (the vendor); Authorities’ Approval

2

Authorities’ Approval

 

Upon receipt of the required documents from the buyer, the vendor will submit an application for IRS acquisition to the Economic Development Board (EDB) of Mauritius (on behalf of the buyer);

3

Signature of the DOS

 

Signature of the DOS (Deed of Sale): once the EDB approval letter is received and all other relevant acquisition criteria have been met, the buyer and vendor shall proceed with the signature of the sale agreement before a notary in Mauritius.

HERITAGE VILLAS VALRICHE TERMS OF PAYMENT

 

The Total Purchaser’s Cost (as shown on our price list) consists of the selling price + registration duty + other costs
(notary fees & administrative costs).

acquisition process villas valriche

Schedule of payment


The buyer will make staged payments in line with the government-regulated VEFA system
(Vente en Etat Futur d’Achèvement) throughout the process of construction.

 

Schedule of payment % of Selling Price
1. Preliminary Reservation Agreement Funds to be deposited in an escrow account 15%
2. On signature of Deed of Sale
(+ Registration Duty + Other Costs)
15%
3. On completion of the foundations 5%
4. On completion of the roof slab 20%
5. On completion of doors, windows & waterproofing 15%
6. On completion of the villa 25%
7. On delivery of the villa 5%

VEFA

 

All IRS properties are sold by the provision of a Vente en l’État Futur d’Achèvement (VEFA). A sale in a future state of completion is the contract by which a seller transfers at once to the buyer his rights to the land as well as the ownership of the existing structures. Further construction works become the property of the buyer as they proceed; the buyer is bound to pay the relevant costs.

 

With the VEFA, the price of the residence is payable in instalments as work proceeds, in accordance with the provisions of articles 1601-1 to 1601-45 of the Mauritian Civil Code.

Learn more about buying off-plan

GFA

 

In accordance with VEFA requirements, the development has resorted to a performance bond (Garantie Financière d’Achèvement – GFA) with a trusted banking institution. The GFA acts as a means of ensuring delivery of the property to the buyer according to conditions stipulated in the contract. In the event of the promoter failing to perform his obligation, the banks will be the guarantors of the delivery of the development.

 

 

VIEW MORE PROPERTIES

 

  • GLOW

    Single-storey

    3 beds en-suite

    Gross Construction Area 431 m2

  • BLISS

    Single-storey

    4 beds en-suite

    Gross Construction Area 528 m2

  • PURE

    Double-storey

    3 beds en-suite

    Gross Construction Area 323 m2