The national budget for 2023-2024 is yet another testimony to the country’s strong commitment to welcoming foreigners to our home island.

 In 2022, Foreign Direct Investments (FDI) in the real estate sector witnessed impressive growth, with over 600 sales under regulated schemes amounting to MUR 15.4 billion.

Whether you’re a digital nomad, a retiree, a professional, or a family looking for a new relocation destination, these budget measures have something for everyone.

While the minimum investment in property acquisition to obtain a residence permit is USD 375 000, a few innovations add up to the offer:

• A non-citizen, holder of a residence permit or occupational permit as the main applicant, will be allowed to acquire only one residential property outside of schemes (Smart City and PDS) for a price exceeding USD 500 000 and subject to payment of an additional registration duty of 10% provided that the property does not exceed 1.25 arpents and is not located on State land.

• Enter the 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.

• The time limit for the acquisition of one plot of serviced land by resident non-citizens in a smart city or a PDS project is extended up the 30th of June 2026.

• Processing fees for Integrated Resort Scheme (IRS), Real Estate Scheme (RES), Invest Hotel Scheme (IHS), and Smart City Scheme (SCS) will be standardised.

•  A new processing fee of MUR 25 000 per application will be introduced for non-citizens acquiring “Ground +2 apartments” and for residence permit applications under the residential schemes. 

• The residence permit will be accessible to retired non-citizens aged above 50 years and their families on the acquisition of a senior living PDS property exceeding USD 200 000. 

• Foreign retirees above 60 years old will have access to medical insurance locally.

• Retired non-citizens applying for the Residence Permit will not be required to open a local bank account in the initial stage. Instead, a certified bank statement from the applicant’s country of origin or residence showing proof of funds would be accepted together with a written undertaking to open a local bank account in two months’ time. 

• Medical patients and retirees as well as up to two accompanying caretakers will be eligible for a premium visa.

• The Home Ownership Scheme, where the government refunds 5% of the property value, up to a maximum of MUR 500 000 will be extended to the 30th of June 2024. For properties under vente en l’état futur d’achèvement (VEFA), the refund will depend on the amount paid by the acquirer under the VEFA agreement. The property must be reserved on or before the 30th of June 2024 and registered no later than the 30th of June 2025.

• Home Loan Payment Scheme for a person contracting a secured housing loan will be extended to the 30th of June 2024. Individuals who contracted a secured housing loan can benefit from a refund of 5% of the disbursed loan amount, up to MUR 500 000 until the 30th of June 2025.  

• The monthly basic salary threshold for Professional Occupation Permit will be reduced to MUR 30 000, irrespective of sector.

• Applicants for Occupation Permit will be granted a business visa of 120 days without the need for them to leave Mauritius to submit an application.

• Introduction of a “silence is consent” principle of 4 weeks for Work Permit applications. 

• Non-citizens on a tourist or business visa will be allowed to apply for a Work Permit.

Whether you’re looking to buy or rent a property on the island for your retirement, expatriation or investment, we’re the right agents to help make your project a reality. Contact us, info@sir.mu

A warm climate, a quality lifestyle, and access to high-standard private healthcare… Indeed, Mauritius has it all if you’re planning to retire on an island.

The healthcare system of Mauritius, representing 7.2% of the national GDP, has experienced constant growth over the years, with innovation in technology, internationally-trained staff, and much more. 

Indeed, the island’s strategy is geared towards attracting multi-specialty clinics with a wide range of specialised treatments, surgical procedures, and diagnostic services available.

Whether you need a specialist in endocrinology, cardiology, geriatrics and rehabilitation, oncology, nephrology, or general medicine; you name it, the trained medical staff will be able to provide you with the best care.

So, if you want to retire in Mauritius, you will surely benefit from the high quality healthcare. 

Whether you choose to live in the north, east, west, south, or centre of Mauritius, you will have a healthcare institution close to you. Moreover, private healthcare facilities in Mauritius offer a comfortable environment with private rooms, modern amenities, and personalised attention.

Another interesting factor: if you have a preference for alternative medicine, the island is home to numerous wellness centres that provide services including hydrotherapy, traditional medicine, and ayurvedic medicines, also valid options for quality healthcare.

If you’re planning to move to Mauritius and want to know more about the healthcare system in Mauritius, we can help you. Whether you’re looking to buy or rent a property on the island for your retirement, we’re the right agents to help make your project a reality. Contact us, info@sir.mu

The security gateway opens, and what do you see on the other side? Perhaps a golf course, manicured gardens, white-sand beaches, restaurants, spas, hotels, crystal blue seas… All are available from the comfort of your extraordinary home on our paradise island, Mauritius.

Private residences are so covetable for the convenience, security, exclusivity, personalised service, and value that these developments offer for a unique luxury lifestyle. They simply open a whole other world!

According to Sacha Bouic, a Property Consultant at Mauritius Sotheby’s International Realty, “You will be in an international environment with residents of different nationalities, not to mention access to leisure facilities on site. Also, your children will be free to safely wander around and ride their bikes. As far as extra charges are concerned, they vary between EUR 300 and EUR 800 per month.”

Enjoy the convenience of living in a safe and stress-free environment, where you can experience the luxury lifestyle you’ve always wanted without the responsibilities of landscaping, while also expanding your social circle. As you pass through the entrance, you can simply enjoy clean and well-maintained driveways leading to your apartment, villa, or penthouse.

Living on a golf course, in a marina, at the water’s edge, at the entrance of a nature reserve, or facing the ocean is possible through the different property schemes available on the island, offering residency with a minimum investment of USD 375 000. 

Living in a private community offers direct access to an array of on-site activities that would otherwise require much planning and hours of driving. Indeed, acquiring a property in a development in Mauritius offers access to services such as a common swimming pool, a gym, a clubhouse, a tennis court, and much more.

Moreover, if you choose a golf development, you will have access to the golf course and all its facilities. If you choose to live in a marina, you will have ample space for boat mooring, and if you choose to live at the water’s edge, you can enjoy water activities and much more.

Many private developments in Mauritius have a 4-star or 5-star hotel on-site, or provide access to luxury hotels, allowing you to enjoy the tranquillity of a stand-alone residence while taking advantage of top-quality amenities such as restaurants, bars, and spas. Additionally, you can benefit from signature hotel services at home, such as having a butler.

Properties sold inside residential schemes are all accessible to foreigners. As there is no capital gain tax imposed in Mauritius, the resale segment is a very dynamic one. The beauty of the investment is that overall, the development continues to grow, innovate and improve, which guarantees a higher resale value of your property.

Think of a holiday that has everything you could ever ask for, peaceful afternoons by the pool, gorgeous seashores steps away from the door, and the ability to feel far away from city life, even though all the necessities and luxuries you want are just a few minute’s away. 

If you’re looking forward to living this private living experience, Mauritius Sotheby’s International Realty has an inventory of extraordinary private homes, awaiting your visit.

Contact us, info@sir.mu

A luxury destination, Mauritius has a thriving real estate sector that attracts a significant amount of Foreign Direct Investment (FDI) every year. In fact, real estate represented 55% of all FDI inflows from January to September 2022, according to the latest figures of the Bank of Mauritius. 

Indeed, a popular destination for foreigners who want to live, work, retire and buy property in a safe place while enjoying the perks of an islander lifestyle, Mauritius is an obvious choice.

The latest Africa Wealth Report by Henley & Partners confirms Mauritius’s position as a top destination for wealthy individuals, with the number of high-net-worth individuals (HNWI) increasing from under 3,000 a decade ago to approximately 4,900 today. “In addition, many locally born millionaires have been created as the economy has grown”, reads the report. 

Furthermore, it is to be noted that a minimum investment of USD 375 000 in property allows an investor to obtain residency on the island.

According to the report, Mauritius has many pull factors:

• Fast-growing financial services sector and stock market (SEMDEX) — highly respected thanks to the country’s strong democracy and political stability
• Ease of doing business — Mauritius ranked 1st in Africa and 13th worldwide in the World Bank’s 2020 Doing Business Report (no newer editions available)
• Low taxes, which encourage business formation and appeal to retirees — there is no estate duty or capital gains tax in Mauritius 
• Safety and security — according to New World Wealth’s in-house safety index for 2022, Mauritius ranks as the safest country in Africa 
• Prime real estate in exclusive residential areas 
• Glorious beaches, nature, scenery and weather

The voice of luxury in the Mauritian property landscape, the Mauritius Sotheby’s International Realty team stands ready to provide you with the best services and advice on your property journey. 

Prepare to live the exceptional and contact us if you’re looking to buy or rent an extraordinary property on the island, info@sir.mu

Global economic dynamics, in one way or another, influence the buying and selling of high-end properties and this holds true for Mauritius.

With the continuous volatility of the financial markets, buying high-end properties serves as both a stable investment and a means of diversifying financial portfolios.

Countries that rely on local investors to drive their property market are more affected by interest rate hikes and rising inflation when making their property buying decision.

“Here in Mauritius, we are fortunate in the sense that the majority of luxury property buyers are foreigners and only a very small percentage of them seek bank financing when purchasing a property on the island. As a result, the hike in interest rates does not greatly affect the market as a whole. Moreover, when global markets are volatile, the safe option for investors will be property acquisition and we can see this trend of portfolio diversification into our Mauritian property market,” says Timo Geldenhuys, Partner, Mauritius Sotheby’s International Realty. 

As travel and business continue to open back up, international property owners are eager not just for spacious, ultra-luxe resorts and developments but also for footholds in prominent international hubs, including fiscally advantageous destinations like Mauritius.

“The prevailing market trend is also an interesting factor. Our traditional prime feeder markets are France, representing more than 40% of our international buyers, and South Africa, representing more than 20%. Furthermore, we can see that there is also a large increase in inquiries from Nordic and Germanic countries. The UK market is also showing a greater interest in our destination and our property offers. 

To summarise I would say that in 2023 the Mauritian luxury property market will continue to follow a positive trend, especially if the government remains proactive in welcoming FDI to the island. All is set for Mauritius Sotheby’s International Realty to have another very successful year, ” adds Timo.

If you want to know more about the buying process and property investment opportunities on the island, please contact us @ info@sir.mu.