Invest in Mauritius.
Mauritius being a touristic destination, the rental demand is elevated, especially in high season. If you buy an apartment or a villa to invest in, you will easily find renters, especially if you choose the right geographical location. With superb natural sites, such as Île aux Cerfs, parks and botanical gardens, it appeals to hikers, water sports and scuba diving enthusiasts and families. Thus, every year, it attracts a large number of tourists. When it comes to investment, there is no doubt the Mauritian real estate sector remains a safe bet as we all can see the price of property increases each and every year, specially for those who is well located and beachfront ones.
Mauritius has also been favorable environment to foreigners and expats wishing to establish or expand their business.
Living in Mauritius.
Since 2002 the Government of Mauritius authorized Non-citizens and expats to acquire residential property in Mauritius under the approved schemes such as:
- The Integrated Resort Scheme (IRS)
- The Real Estate Scheme (RES)
- The Property Development Scheme (PDS)
- The Smart City Scheme
- Ground floor +2 apartments (G+2)
- Integrated Resort Scheme (IRS) and Real Estate Scheme (RES)
A non-citizen also has the opportunity to acquire high-end residential properties under the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). The non-citizen and dependents are eligible for a residence permit by virtue of the acquisition under the IRS, RES and PDS schemes when he has invested a minimum amount of USD 375,000. The owners may rent the property, become tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale or renting of the property.
- Property Development Scheme (PDS)
The Property Development Scheme (PDS), which has replaced the IRS and RES, allows the development of a mix of residences for sale to non-citizens, citizens and members of the Mauritian Diaspora.
A non-citizen is eligible for a residence permit upon the purchase of a villa under the PDS scheme when he has invested more than USD 37,000 or its equivalent in any freely convertible foreign currency.
- Smart City Scheme
The Smart City scheme which revolves around the work, life and play concept, incorporates mixed use developments in cosmopolitan conurbations with smart technology and pioneering innovation at their core. The focus is to deliver a happier lifestyle through the development of self-sufficient cities offering integrated sustainable solutions and ensuring minimum wastage and maximum comfort for the long-term benefit of all citizens and the future generations irrespective of social and economic class. Non-citizens may acquire built-up residential properties comprising villas, houses, townhouses, apartments and duplexes.
- Ground floor + 2 Apartments
The Non-Citizens are allowed to purchase apartments in condominium developments of at least two levels above ground (G+2) with the prior approval of the Economic Development Board, provided the purchase price of an apartment is not less than MUR 6 million or its equivalent in any other hard convertible foreign currency.
- Long-Stay Visa
Upon purchase of an apartment at a price exceeding USD 500,000 or its equivalent in any convertible currencies, a non-citizen is eligible to apply for a long-stay visa. A long stay visa allows a non-citizen and his dependents to stay for a consecutive period of ten (10) years, renewable depending on the status of ownership. It remains valid so long as the non-citizen holds the apartment.