Mauritius presents a golden opportunity for foreign investors to acquire prime real estate through a range of attractive property schemes. With a minimum investment of USD 375 000, you can secure not only a valuable property but also gain residency. Moreover, as long as the buyers maintain ownership of the property, the residency permit remains valid for themselves, their spouse, and dependent children.
There are many options for acquiring a property in Mauritius, whether you want to
live on the island or simply make a safe and sound investment.
Integrated Resort Scheme (IRS)
The Integrated Resort Scheme (IRS) is a luxury residential program launched in 2001 and was the first scheme approved in Mauritius aiming to attract foreign direct investments. Foreigners are offered the opportunity to buy a freehold property in Mauritius within the IRS Scheme with a minimum investment of USD 375 000 (excluding taxes).
Real Estate Scheme (RES)
This scheme, introduced in 2007, encourages investment in more affordable projects, with the advantage of having fewer restrictions. Unlike the IRS, there is no minimum sale amount. However, compared to the IRS, a residence permit is not automatically offered when buying under the RES, and to obtain the same, the buyer must invest in a property of a minimum of USD 375 000. If you’re already a residency permit holder, you could however invest in an RES as a secondary home or simply rent out the property!
Property Development Scheme (PDS)
The PDS scheme, introduced in 2016, is designed to simplify property acquisition for foreign investors. In a sense, it amalgamated the best of the IRS and the RES. The PDS allows the purchase of luxurious residential properties such as luxury villas, apartments, and penthouses for the Mauritian diaspora as well as foreigners. It is to be noted that a non-citizen is eligible for a residence permit for himself and his family upon the purchase of a property under the PDS scheme, if the investment exceeds USD 375 000 or its equivalent.
Residency permit holders can also acquire a serviced plot of land in a PDS development.
Invest Hotel Schemes
This scheme was launched for foreign buyers to acquire units that form part of hotels. The selling price of a standalone villa starts from USD 375 000. Owners of hotel suites can stay for a maximum of 6 months annually. The unit then gets into the hotel’s rental pool.
Ground +2 Projects
Foreigners are allowed to purchase apartments in developments of at least two levels above ground (G+2) with the Economic Development Board’s prior approval, provided the purchase price of an apartment is not less than MUR 6 million. However, the minimum investment for residency is USD 375 000.
Smart City Scheme
The Mauritian government launched the Smart City Scheme in 2015, a mixed-use property development program that incorporates office, residential, commercial, educational, and medical spaces as well as a leisure component. Any person or any entity, including foreign companies and trusts, can acquire residential units in a smart city.
Non-citizens, holders of Occupation permits, Permanent Residence Permit, or any Residence Permit can acquire a serviced plot of land under this scheme.
Sustainable City Scheme
A non-citizen and his family will be granted a residence permit on the acquisition of residential property at a minimum price of USD 375 000 under this new scheme.
