Foreign Acquisition

Foreign Acquisition

The Investment Promotion Act and the Investment Promotion Regulations provide for the acquisition of property by foreigners under different schemes which are governed by the Economic Development Board (EDB) of Mauritius. Developed with the foreign investor/buyer in mind, these schemes are rapidly turning Mauritius into a highly sought-after real estate investment destination whether for ownership or for buy-to-let schemes.

Residency Under Property Acquisition*

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A. Ground +2 Apartments

• Foreigners are allowed to purchase apartments in developments outside of the approved residential schemes.
• The apartments should be located in condominium developments of at least two levels above ground (G+2) and the purchase price of an apartment should not be less than MUR 6 million or its equivalent in any other hard convertible foreign currency.

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B. Property Development Scheme (PDS)

• The Property Development Scheme (PDS) is one of the approved schemes, which has been designed to facilitate the development and subsequent purchase of luxurious properties by non-citizens in Mauritius.
• Projects developed under this scheme provide outstanding luxury residential properties of high international standards together with high quality open spaces, high-class leisure and recreational facilities as well as day-to-day management services.
• On acquisition of residential property for a price exceeding USD 375,000, a non-citizen is granted a residence permit for so long as he/she holds the residential property. The spouse and children below the age of 24 are also granted a residence permit.
• Non-citizens who have a residence permit under PDS will be exempted from an Occupation or Work permit to invest and work in Mauritius.

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C. Real Estate Scheme (RES)

• Another product of the luxury residential offerings of Mauritius, RES projects offers different type of residences ( Villas, penthouses, duplexes, apartments) located within exclusive albeit smaller residential developments.
• A foreigner can acquire a residential property in existing RES projects and will be eligible for a residence permit for himself and his dependents if he has invested a minimum amount of USD 375,000 to acquire the property. The owners may rent the property, become tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale or renting of the property.
• Non-citizens who have a residence permit under RES will be exempted from an Occupation or Work permit to invest and work in Mauritius.

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D. Integrated Resort Scheme

• Residential estates developed under the IRS offer a wide variety of world class amenities for leisure, entertainment and wellness such as golf courses, marinas, beachclub, clubhouses and wellness centres that surrounds the residences and provide an exclusive resort experience.
• A foreigner can acquire residential properties, like villas, townhouses, penthouses, apartments, duplexes and serviced plots of land in existing IRS projects.
• The non-citizen and dependents are eligible for a residence permit when he/she has acquired the property at a minimum amount of USD 375,000. The owners may rent the property, become tax resident in Mauritius and face no restriction on the repatriation of funds or revenue raised from the sale or renting of the property.
• Non-citizens who have a residence permit under IRS will be exempted from an Occupation or Work permit to invest and work in Mauritius.

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E. Smart City Scheme

• The Smart Cities, revolving around the work, life and play concept, are large-scale mixed-use developments in cosmopolitan conurbations with smart technology and pioneering innovation at their core. residential estates are embedded within an integrated masterplan fostering a sustainable and happier lifestyle with ample space and opportunities for innovation driven businesses and multiple leisure amenities, while living next door.
• A non-citizen can acquire a residential unit, being a townhouse, villa, apartment, penthouse, or a duplex within any of the smart cities.
• Also, non-citizen holders of residence permits, occupation permits or permanent residence permits can acquire a plot of serviced land of an extent of 2,100 m2 for the purpose of building a residence, in a residential development located in a smart city, approved by the EDB. The acquisition has to be made not later than 30 June 2022.
• If the acquisition of the residential property is made at a minimum of USD 375,000, the non-citizen is eligible for a residence permit.

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F. Invest Hotel Scheme

• The Invest Hotel Scheme allows a non-citizen investor and individual guests to become an owner of exclusive hotel units located in Mauritius.
• A non-citizen can acquire a room (or a hotel unit) in new or existing hotels approved under the IHS. The owner thus gets a privileged access to all the facilities of exquisitely furnished luxury resort hotel(s) with amenities like F&B, fully serviced spas and fitness centres, resort-style pools.
• The unit owner or any person on his behalf may use that unit for a total of 45 days in any period of 12 months, and can also derive an income through the lease back model.
• If the unit/room is acquired for a minimum amount of USD 375,000, the owner would be eligible for a residence permit.

We do not have any product in this category online, and some products are not published. Get in touch to find out.

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For more information on the different residency byproperty acquisition schemes, visit the Economic Development Board website: www.edbmauritius.org
*Source: Economic Development Board Mauritius, 2021, https://residency.mu/acquire/