As well as being a luxury lifestyle symbol, Mauritius has a multitude of first-place ranks for its economic, political and social developments. To name a few, the Island is ranked to be the best country to do Business in Africa, the most competitive nation in Africa and most successful in good governance in Africa. It is also recognised to be part of the first six countries which are recommended to people wishing to relocate. Whether you are looking to retire or simply invest in property in Mauritius, we are here to inform and guide you in your search for the perfect investment, according to your needs and wants. When searching for a property in Mauritius, it is important to understand the different products the Mauritian real-estate market has to offer and to whom these products are targeted towards.
Project Development Scheme (PDS)
The PDS scheme, which has replaced the IRS and RES since 2015, allows the development of high quality free hold residences for sale to non-citizens of Mauritus. A non-citizen is eligible for a residence permit upon the purchase of a residential unit under the PDS scheme when the purchase price is more than USD 500,000 or its equivalent in any freely convertible foreign currency.
Smart City Scheme (SMS)
The Smart City Scheme is developed on land of an extent of at least 21.105 hectares (50 arpents) and must adhere to the live, work and play concept. It incorporates within the development a mix of compatible land use including commercial, leisure and residential so that the inclusive development achieves a pedestrian oriented urban environment. All property within the SMS scheme is open to purchase to non-citizens of Mauritius.
The G+2 concept allows non-citizens to acquire an apartment that is not within a PDS,IRS or RES development. This purchase does not allow permanent residency to foreigners, but allows them to have a 6 month multi-entry visa that is valid for 5 years and gives an opportunity to rent out the apartment and enjoy a rental return.
Integrated Resort Scheme (IRS)
Under the IRS scheme, luxury villas and other residential free hold properties can be sold at a minimum price of 500,000 USD to non-citizens who, de facto, receive a residence permit. The few IRS developments put on the market proved very popular, and continue to do so, offering luxury facilities to residents. These may include a golf course, a marina, a wellness centre, restaurants, shops and many other premium amenities.
Real-Estate Scheme (RES)
Under the RES scheme, residential units are sold to citizens and non-citizens at no minimum price. However, acquisition of property worth at least 500, 000 USD entitles the non-citizen purchaser a residence permit. This scheme is usually smaller than other property developments and is targeted mainly for those investors, retirees and professionals, who want to invest, work and live in Mauritius, or to those people who want to enjoy a holiday retreat in Mauritius.
Invest Hotel Scheme (IHS)
The Invest-Hotel is a scheme designed to allow property developers to sell hotel rooms, villas, suites or any other part of a hotel to individual buyers during and post construction phases. As well as promising individual buyers a rental income, it also offers all the facilities of an exquisitely-furnished new luxury resort hotel: F&B, full-service spas, health and fitness centres, resort-style pools, sophisticated business centres, and housekeeping services.
*Source : Economic Development Board (EDB)