biens immobiliers accessibles etrangers maurice

Real Estate properties for sale to foreigners

Real estate properties and property investment programs in Mauritius for sale to foreigners

The Mauritian real estate sector is composed of two distinct segments: a local market including properties only for Mauritians on the one hand, and a real estate market made up of properties designed for foreign acquisition. It was back in 2001 that the Mauritian authorities decided to open up this market segment to non-citizens allowing them to purchase real estate properties in Mauritius, under specific conditions governed by purpose-designed property schemes.

THE INTEGRATED RESORT SCHEME (IRS)

The Integrated Resort Scheme was established in 2001 following a collaboration between the Mauritian government and the Economic Development Board (EDB). Main characteristics of IRS projects:

Large-scale property developments whose surface area should exceed 10 hectares
IRS allows non-citizens to purchase high-end luxury villas boasting a wide range of amenities such as golf course, individual swimming pools, restaurants, spa, fitness and wellness centres among others. The minimum selling price of an IRS unit is USD 500,000 (EUR 375,000).
A foreign buyer purchasing an IRS unit in Mauritius is automatically granted a Mauritian Residence Permit, including his/her spouse and children (less than 24 years old). He/she hence becomes a Mauritian tax resident as long as he remains owner of the IRS unit.

THE REAL ESTATE SCHEME (RES)

Created in 2007 and considered as a light version of the IRS, the Real Estate Scheme (RES) is also meant for foreign property acquisition. RES projects feature similar amenities as IRS (golf courses, individual pools, restaurants, spas, fitness and wellness centres…). The main differences remain the scale of the development and the fact that there exists no minimum selling price of a RES unit.

Characteristics of RES projects:

Land surfaces for RES projects should be in the range of minimum 1 Arpent and maximum of 10 hectares.
The cost of the development (lower than IRS projects)
The purchase of a RES unit by a non-citizen in Mauritius whose selling price exceeds USD 500,000 (EUR 375,000) allows the owner to request for a Mauritian Residence permit.

Investing in Mauritius

THE INVEST HOTEL SCHEME (IHS)

The Invest Hotel Scheme (IHS) enables hotel promoters to invest in the development of a hotel

project by allowing them to sell villas, suites or units that form part of the hotel to individual Mauritians and foreign buyers.

The Invest Hotel Scheme provides for:

For the development of a hotel on a for the development of a hotel on either freehold or leasehold land of more than 1 hectare where units, villas, or suites of the hotel can be sold
That the buyer of a unit enters into a lease agreement by which the property is leased back to the seller
That the unit leased to the seller may be rented and occupied by the unit owner or any person on his behalf for a total of not more than 45 days in any period of 12 months.

THE PROPERTY DEVELOPMENT SCHEME (PDS)

Designed in 2015 to allow property acquisition by non-citizens in Mauritius, the Property Development Scheme replaces the IRS AND the RES. This new property scheme features the development of real estate units under the form of a mix of residences for sale to non-citizens, citizens and members of the Mauritian Diaspora.

A PDS unit has the following characteristics:

Villas, apartments, luxury penthouses and any other property type that can be used as a residence featuring high-end leisure, commercial amenities and facilities
Day-to-day management services to residents (security, maintenance, gardening, solid waste disposal, household services)
There is no minimum selling price for a PDS unit, but the owner of a PDS unit (including his/her spouse and children of less than 24 years old) who selling price exceeds USD 375,000 is entitled for a Mauritian Residence Permit.

THE SMART CITY SCHEME

Smart Cities have been implemented by the Mauritian government to consolidate the business and financial sector, by stimulating the ideal conditions to work and live in Mauritius. These new cities will be built around the work-live-play lifestyle in a vibrant environment with technology and innovation at their core.

The Smart City Scheme aims at stimulating innovative scientific and technological activities, providing technology-driven facilities to the business community, creating e a vibrant city lifestyle, and offering an enabling framework and a package of attractive fiscal and non-fiscal incentives to investors for the development of smart cities across the island.

Certified Smart City projects include:

Mon Tresor Smart City
Cap Tamarin Smart City
Uniciti
Moka City
Jin Fei Smart City
Beau Plan Smart City
Mon Choisy Smart City
Hermes Properties Ltd
Yihai Investment Ltd
Royal St Louis

GROUND +2 APARTMENTS (G+2)

Since 2016, non-citizens are allowed to invest in a new property program: G+2 apartments. This scheme features the acquisition of one or more apartments within condominium developments of at least two levels above ground (G+2) prior to approval from the Economic Development Board (EDB).

The minimum selling price of a G+2 apartment is MUR 6 million
G+2 units are accessible to all non-citizens
The acquisition of a G+2 apartment in Mauritius does not automatically grant the Mauritian Residence Permit to foreigners. In the case that the selling price of a G+2 unit is less 375,000 USD, the owner is entitled to Mauritian residency for a period of 6 months (each year).
In the case that the selling price of a G+2 unit exceeds USD 375,000 (or its equivalent in any other convertible currency), the buyer becomes eligible for a Permanent Mauritian Residence permit.