The political stability and sustained economic growth that have reigned for over three decades, make Mauritius an attractive and reliable investment platform for foreigners. Moreover, Mauritius offers a climate of security which is really appreciated. As a result, from young entrepreneurs to retired couples, many foreigners fall in love with the island…to the point where they want to live here! An achievable dream, but with conditions attached…
The famous IRS and RES schemes were revamped by the government in 2015 and replaced by the Property Development Scheme (PDS). The concept remains the same: to facilitate the acquisition of property in Mauritius by a non-citizen within a very specific administrative and legal framework. A groundbreaking measure which innovates in terms of its social dimension in the interest of local communities. Luxury Mauritius sheds some light: The Property Development Scheme (a.k.a. PDS): the PDS is, therefore, a new property regime established by the Mauritian Government for luxury residences. A scheme which unlike the previous IRS and RES models is no longer only aimed at foreign nationals, but also Mauritian citizens. Hence, the PDS does not require a minimum investment amount from a Mauritian citizen, but foreign buyers will only be eligible for a residence permit if they invest more than $500,000.
Properties under IRS or RES schemes are however still available for sale or resale (visit lexpressproperty.com).
The following persons may acquire a residential property from a PDS Company:
- a natural person, whether a citizen of Mauritius, a non-citizen or a member of the Mauritian Diaspora
- a company incorporated or registered under the Companies Act
- a company, where its deed of formation is deposited with the Registrar of Companies
- a limited partnership under the Limited Partnerships Act
- a trust, where the trusteeship services are provided by a qualified trustee
- a Foundation under the Foundations Act
Foreign nationals can also become homeowners in Mauritius via an alternative option: The Invest Hotel Scheme (a.k.a. IHS). This scheme involves the purchase of a hotel room, apartment or villa in a hotel complex. This program has been implemented to facilitate the overall funding system of new hotel projects. With the IHS, the investor can benefit from all the services offered by the hotel for 45 days a year and earn rental income for the remainder of the year. This measure does not require any minimum
investment amount, except for the acquisition of an independent villa where the price must exceed $500,000.
The choices are numerous and tailored to individual needs. Welcome to our country!
For more information, please visit the website of the Board of Investment.