Non-citizens and expats are allowed to acquire residential property in Mauritius under schemes approved and managed by the Economic Development Board such as:
The Integrated Resort Scheme (IRS)
The Real Estate Scheme (RES)
The Property Development Scheme (PDS)
The Smart City Scheme
Ground +2 apartments
Integrated Resort Scheme (IRS) and Real Estate Scheme (RES)
A non-citizen also has the opportunity to acquire high-end residential properties under the Integrated Resort Scheme (IRS) and the Real Estate Scheme (RES). The non-citizen and dependents are eligible for a residence permit by virtue of the acquisition under the IRS, RES and PDS schemes when he has invested 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.
Property Development Scheme (PDS)
The Property Development Scheme (PDS), which has replaced the IRS and RES, allows the development of a mix of residences for sale to non-citizens, citizens and members of the Mauritian Diaspora.
A non-citizen is eligible for a residence permit upon the purchase of a villa under the PDS scheme when he has invested more than USD 375,000 or its equivalent in any freely convertible foreign currency. Non-citizens who have a residence permit under PDS will be exempted from an Occupation or Work permit to invest and work in Mauritius.
The PDS is also a demarcation from the IRS and RES in as much as it does not differentiate between small and big landowners and harmonizes the registration duty to a single rate of 5% instead of USD 70,000 on registration of a deed under IRS and USD 25,000 under RES.
Download the Guidelines for the Property Development Scheme
Smart City Scheme
The Smart City scheme which revolves around the work, life and play concept, incorporates mixed use developments in cosmopolitan conurbations with smart technology and pioneering innovation at their core. The focus is to deliver a happier lifestyle through the development of self-sufficient cities offering integrated sustainable solutions and ensuring minimum wastage and maximum comfort for the long-term benefit of all citizens and the future generations irrespective of social and economic class. Non-citizens may acquire built-up residential properties comprising villas, houses, townhouses, apartments and duplexes.
The Non-Citizens are allowed to purchase apartments in condominium developments of at least two levels above ground (G+2) with the prior approval of the Economic Development Board, provided the purchase price of an apartment is not less than MUR 6 million or its equivalent in any other hard convertible foreign currency.
Upon purchase of an apartment at a price exceeding USD 500,000 or its equivalent in any convertible currencies, a non-citizen is eligible to apply for a long-stay visa. A long stay visa allows a non-citizen and his dependents to stay for a consecutive period of ten (10) years, renewable depending on the status of ownership. It remains valid so long as the non-citizen holds the apartment.
A non-citizen wishing to apply for a long-stay visa has to make an application to the Chief Executive Officer of the Economic Development Board (EDB).
Grab an opportunity to have a look at the keys benefits for acquisition of property at the latest Budget.