Invest in Mauritius

How to invest in real estate in Mauritius

Non-Mauritians are allowed to acquire residential property in Mauritius under a number of schemes approved and managed by the Economic Development Board (EDB). These are:

Property Development Scheme (PDS)

Introduced in 2015, the Property Development Scheme (PDS) has replaced the IRS and RES schemes and allows for the development of a mix of residences for sale to non-Mauritians, Mauritians and members of the Mauritian Diaspora.

A non-Mauritian will be eligible for a residence permit upon the purchase of a property under the PDS scheme when he has invested more than USD 375,000 or its equivalent in any freely convertible foreign currency.

Non-Mauritians who have a residence permit under PDS will be exempted from an Occupation or Work permit to invest and work in Mauritius.

The PDS scheme differs from the old IRS and RES schemes as it does not make the difference between a small and big landowner. It also combines the registration duty to a single rate of 5% instead of USD 70,000 and USD 25,000 on registration of a deed under IRS and RES schemes respectively.

Ground+2 Apartments (G+2)

Introduced in 2015, this scheme allows non-Mauritians to purchase apartments in condominium developments of at least two levels above ground (G+2), provided the purchase price of an apartment is not less than MUR 6 million or its equivalent in any other hard convertible foreign currency.

Where a non-Mauritian purchases an apartment at a price exceeding USD 375,000 or its equivalent in any convertible currencies, the non-Mauritian will be eligible to apply for a long-stay visa. A long stay visa will allow the non-Mauritian and their 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-Mauritian holds the apartment.

Smart City Scheme (SCS)

Introduced in 2015, the Smart City scheme, which revolves around the work, life and play concept, is a mixed-use development program that blends residential, commercial, offices, medical, education and entertainment uses. It further aims at creating a working, living and leisure space that will be environment-friendly by offering sustainable solutions that will provide long-term benefits to all Mauritians and future generations irrespective of social and economic class.

Through the Smart City Scheme, non-Mauritians may acquire built-up residential properties comprising villas, houses, townhouses, apartments, duplexes and land.

A non-Mauritian will be eligible for a residence permit for property acquisitions worth USD 375,000 or more.

Invest Hotel Scheme (IHS)

Introduced in 2012, the Invest-Hotel Scheme allows hotel developers to finance the development of a hotel project by allowing them to sell villas, suites, rooms or other components that form part of the hotel to individual buyers including non-Mauritians.

Unit leased back to the seller may be used and occupied by the unit owner or any person on his behalf for a total of not more than 90 days in any period of 12 months.

The amount of investment in the acquisition of a stand-alone villa should not be less than US$500,000 (excluding taxes) or its equivalent in any freely convertible currency. For units other than stand alone villa there is no minimum investment required to acquire such units.

Integrated Resort Scheme (IRS)

In order to encourage foreign direct investment into the local real estate sector, the Mauritian Government implemented the Integrated Resort Scheme (IRS) in 2002, a luxury residential program aiming to attract foreign investment. The scheme gave the opportunity to foreigners to buy a freehold property in Mauritius within an integrated residential development with a minimum investment of USD 500,000 (excluding taxes). IRS developments had to abide by the following guidelines:

  • Minimum of 10 hectares residential estate
  • High-class leisure, commercial amenities and facilities
  • Management services (security, maintenance…)
  • Social contribution to neighboring communities

Upon investing in such real estate programmes, property owners were automatically entitled to a residence permit.

Today, all new real estate projects opened to foreign investors are developed under the Property Development Scheme discussed above.

Real Estate Scheme (RES)

The RES system was introduced in 2007 opening the market to foreigners by offering an alternative to the IRS scheme. RES projects were built on land measuring a minimum of 4000 sqm and there was no minimum or maximum price constraint for the sale of RES programs. Therefore, residence permits were not automatically issued to foreigners acquiring a property under this scheme.

If the purchase was less than USD500,000 the buyer would not obtain a permanent residence permit and would only be able to live in Mauritius a maximum of 6 months per year. However, in the case of a purchase of a RES property in excess of USD500,000 the buyer would be issued a permanent residence permit on the same basis as an IRS property.

Today, all new real estate projects opened to foreign investors are developed under the Property Development Scheme discussed above.