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With its stunning beaches, growing economy, and welcoming atmosphere, Mauritius has become an attractive hub for local and foreign investors exploring real estate investment. From coastal wonders to scenic inland beauty, Mauritius offers diverse real estate opportunities. This guide explores the Mauritius real estate landscape and what it means to invest in Mauritius real estate as a foreigner. Contact us to discuss about your investment goals.
Previously, foreigners were restricted to buying property solely within specific approved developments in Mauritius. The recent amendments, in accordance with the Immigration Act 2022, extend the eligibility for property ownership to foreigners living in Mauritius. This adjustment represents a pivotal change, enabling non-citizens to invest in Mauritius real estate without restrictions to certain schemes. However, this new law has not been brought into practice yet.
Nonetheless, foreigners can invest in Mauritius real estate through the approved schemes such as the Property Development Scheme (PDS), Smart Cities, and the Ground Plus 2 initiative. These initiatives allow foreigners, including South Africans to own various properties, from apartments to luxurious villas, offering diverse investment choices. With no capital gains tax, a stable political setting, tropical climate, and a strategic location, Mauritius stands as an appealing destination for foreigners seeking profitable real estate investment amidst modern comforts and natural allure.
Property Development Scheme (PDS)
The Property Development Scheme (PDS) in Mauritius is the primary avenue approved by the Economic Development Board (EDB) for foreigners keen on investing in real estate. This scheme has replaced the Integrated Resort Scheme (IRS) and Real Estate Scheme (RES). The PDS is closely regulated to ensure the protection of buyers’ interests, imposing rules on project dimensions and the allocation of communal spaces. Under the Immigration Act, non-citizens can get a residence permit upon buying a residential property valued at a minimum of USD 375,000. This will allow them to stay as long as they own the property and work in Mauritius without a separate occupation permit.
Ground Plus 2
The Ground Plus 2 is another government approved scheme that requires foreigners to buy apartments of at least three floors (Ground plus two extra floors). Approval from the EDB is mandatory, and the property’s value should be at least MUR 6 million. Similar to a property under the PDS scheme, when investing a minimum of USD 375,000, non-citizens become eligible for a residence permit. This can eventually grant the foreigner permanent residence.
Smart Cities
Smart Cities are government-licensed projects in Mauritius that create sustainable living, working, and leisure environments. These areas, similar in size to small towns, integrate advanced technology, environmental consciousness, and community living. Smart Cities boast cycle paths, parks, gyms, shops, and offices harmoniously arranged within a convenient space. Investing a minimum of USD 375,000 in a Smart City will also lead to a residence permit for as long as you own the property.
Investing in Mauritius real estate offers several opportunities for foreigners. The government-approved schemes, such as the Property Development Scheme (PDS), Ground Plus 2, and Smart Cities, provide a versatile landscape for investment. These initiatives ensure a stable and secure investment platform, coupled with the opportunity to get permanent residency upon investing a minimum of USD 375,000. With no capital gains tax, a politically stable environment, a tropical climate, and a strategic geographic location, Mauritius presents a compelling investment destination. Notably, commercial real estate holds promising prospects for rental yields, making it an worthwhile investment. The limited land availability further enhances property value appreciation potential, ensuring an lucrative investment for those seeking both long-term growth and residency benefits.
Navigating Mauritius’ real estate market demands meticulous planning and understanding of legal frameworks. Prospective investors should conduct extensive due diligence, seek professional guidance, and understand the intricacies of each endorsed scheme. With evolving regulations and diverse investment avenues, informed decision-making is critical for maximising returns and mitigating risks. Relocate Mauritius has partnered with some of the most trusted real agents in Mauritius, allowing us to provide unbiased and transparent guidance and advice.
1. Can foreigners buy real estate in Mauritius?
Foreigners can buy real estate in Mauritius, with or without a residence permit. A foreigner can invest in real estate in Mauritius, either as an individual or through a company, a trust, a foundation, an LP or a Société.
2. Is real estate a good investment in Mauritius?
Investing in real estate in Mauritius is a smart move due to its unique benefits – a safe environment, favourable climate, political stability, stunning landscapes, and attractive fiscal policies. With its status as a global hub for investment and trade between Africa and Asia, the island consistently attracts expatriates seeking a high-quality lifestyle and investment opportunities. Foreign investors benefit from robust legal protection, making it a secure long-term investment, especially with local expertise and guidance. In essence, Mauritius offers a prime real estate investment landscape, supported by its unique advantages and strategic positioning as an international investment destination.
3. What is the best place to buy property in Mauritius?
The two main locations where foreigners live in Mauritius, are in the North and in the West. Grand Bay, located in northern Mauritius, is the prime destination for buying property or investing. Renowned for its vibrant atmosphere and amenities, it is ideal for settlement or rentals. In contrast, the West offers stunning landscapes but lacks good transportation links and faces intense summer heat. However, Grand Bay’s well-developed infrastructure, modern facilities, and diverse amenities make it a top choice for comfortable living and property investment.
We are a team of immigration experts and relocation advisors in Mauritius that can help you with all aspects of the company set-up process. Our professionals, well-versed in local property regulations, guide you in choosing profitable investment opportunities and obtaining permits.
Our approach begins with understanding your real estate investment goals, tailoring our recommendations accordingly. We handle administrative tasks such as documentation preparation and liaison with relevant authorities, streamlining your transition into the Mauritian real estate market. Additionally, we connect you with reputable real estate agents and established developers, ensuring reliable and secure investment ventures.