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Real estate investment : The different schemes open to expats in Mauritius

Published on 20 June 2023

Mauritius presents an attractive investment destination due to its advantageous geographical location, serving as a key crossroad between Asia and Africa, and its favourable international treaties that establish it as a gateway to European and American markets.

Through its commitment to implementing best practices, Mauritius has established itself as a hub for fiscal policies, good governance, ethical standards, transparency, and political and economic freedom. The country boasts a transparent and well-defined investment code and legal system, making it one of the most favourable investment climates in the region. If you want to invest in real estate in Mauritius, here are the different schemes that allow you to do so.

Property Development Scheme (PDS)

The Property Development Scheme (PDS) is an approved initiative designed to facilitate the development and acquisition of luxury properties by non-citizens in Mauritius. Non-citizens who purchase residential properties valued at over USD 375,000 are granted a residence permit for as long as they hold the property. Additionally, the spouse and children below the age of 24 are also eligible for residence permits. Non-citizens holding residence permits under the PDS scheme are exempt from obtaining an Occupation or Work permit to invest and work in Mauritius.

Ground +2 Apartments

Following the announcement in Budget 2021/22 and in accordance with Section 5(1)(ga) of the Immigration Act, non-citizens can now obtain a residence permit upon purchasing a residential property in a building with at least 2 floors above the ground floor, provided the property's value is not less than USD 375,000 or its equivalent in any other freely convertible foreign or Mauritian currencies. The residence permit remains valid as long as the non-citizen maintains ownership of the residential property under the G+2 scheme. The apartments must be situated in condominium developments comprising a minimum of two levels above the ground floor (G+2), and the purchase price of an apartment should be no less than MUR 6 million or its equivalent in any other widely convertible foreign currency.

Integrated Resort Schemes (IRS)

The Integrated Resort Schemes provide properties in settings that boast extensive leisure, entertainment, and wellness facilities, such as golf courses, marinas, beach clubs, pavilions, and wellness centers.

Non-residents have the opportunity to purchase villas, townhouses, penthouses, duplex apartments, and serviced plots of land (up to 1.25 acres or 5,276 m²). By investing a minimum of USD 375,000, they, along with their dependents, can obtain a residence permit.

Real Estate Scheme (RES)

Under the Real Estate Scheme (RES), a project must consist of at least six high-end residential units, be situated on freehold land spanning from 1 to 24 arpents (equivalent to less than 10 hectares), and allow for the acquisition of smaller properties.

Unlike IRS properties that must be sold for a minimum of USD 375,000, there is no minimum sales threshold for RES properties. However, in return, the buyer is not automatically eligible for a residence permit unless they invest at least USD 375,000. They have the option to rent out the property, become tax residents in Mauritius, and freely repatriate funds or income from selling or renting the property.

Non-citizens holding a residence permit under the RES scheme are exempt from obtaining an occupation or work permit to invest and work in Mauritius.

Smart City Scheme (SCS)

The government of Mauritius has introduced the Smart City Scheme (SCS) to promote the country as an international business centre and encourage sustainable development. Smart cities developed under this scheme occupy land areas exceeding 21,105 hectares and offer residential properties, commercial facilities, and leisure amenities. These cities are designed for optimal energy efficiency and provide the opportunity to acquire life rights for retirees. Additionally, Smart City companies and developers are permitted to sell both residential and non-residential land. The management of common areas in these cities is handled by a dedicated company.

The SCS allows foreigners to apply for a resident permit by making a real estate investment of USD 500,000 or more.

Embrace the coastal lifestyle: Welcome to West 35 

Nestled along the captivating West coast of Mauritius island, West 35 represents the third instalment in a series of residential developments by Know House, conveniently located just minutes away from the vibrant village of Tamarin. Following the great success of West 17 and West 24, West 35 has been thoughtfully designed to extend the offering and provide yet another extraordinary, relaxed tropical experience, embracing the essence of today's contemporary island living.

Located in a serene residential area, West 35 brings together a multitude of pleasures and conveniences within a short distance, ranging from a mere 1.5 to 8 kilometres away. With its array of villas and duplexes, this development not only presents an ideal choice for primary or secondary residences but also promises a good return on investment through rental opportunities.

The residential development consists of 7 elegant villas and 28 contemporary duplexes.

With a relaxed and uncomplicated modern architecture, the residences were thoughtfully designed to be functional and aesthetically pleasing with a minimal approach. Each residence maximises usable living space in a comfortable and contemporary way with open floor plans combining living, dining and kitchen areas that graciously extend to the outdoor lounge space. Wide floor-to-ceiling openings in the upper floors allow for an open view from the room welcoming natural light and gentle breezes into the interiors.

Key features:

  • 2 parking spaces 
  • Private pool and garden
  • Gated community 
  • CCTV
  • Gate & Controlled access 
  • Co-working space

Know House: Redefining beachfront living with unparalleled expertise

Specializing in mid- to high-end beachfront residences, Know House has emerged as a trailblazer in the industry. With a proven track record spanning over 15 years, Know House has earned its position as the leading developer of choice for discerning individuals seeking extraordinary beachfront properties. Having successfully delivered over 100 units from 2020 to 2022, Know House has firmly established itself as the epitome of excellence in the field.

As a prominent player in the local beachfront property development scene, our primary objective is to fortify our market position within an ever-evolving landscape. Guided by our core values of quality, teamwork, and unwavering commitment to service, we continuously strive to exceed expectations and achieve new heights of success.

T : +23052521000 | +23052599245

W : www.knowhouse.mu 

Mauritius

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