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Investment Models in Mauritius
Mauritius has become an appealing destination for many people globally. From investment opportunities to an environment that readily welcomes foreigners, the country is an offshore golden opportunity. Consequently, investing in their real estate is a great way to make income.
The Mauritius government has made it possible and easy for foreigners to live there, more so when they have invested in one of their models. The good thing about investing in Mauritius is enjoying the fantastic tax benefits of owning property. Here’s an overview of some investment models and what they contain.
1) Property Development Scheme (PDS)
The PDS umbrellaed the IRS and RES and allowed for the development of a mix of residences by residents and non-residents. To qualify, here is what you need to have:
- A person, whether of Mauritius descent or not
- An incorporated company that is registered under the company act
- A limited partnership under the Limited Partnerships Act
- A foundation under the Foundations Act
The scheme will provide for the following properties:
- The development of at least six luxurious residential properties
- High-quality public spaces, making the residential a great place to settle
- Social amenities
When you purchase a residential property for more than USD 375,000, you’ll be granted a residence permit as long as you hold the property. Your spouse and children under 24 will also be granted residence permits.
2) Integrated Resort Scheme (IRS)
The IRS is an initiative of the Mauritius government that aims to facilitate the acquisition of resorts and residential properties. Before the change in legislation, foreigners could not buy property in Mauritius. The government took up this initiative to ensure that foreigners were included in property acquisition, which would mean that the government would make money out of it.
As a non-citizen or dependent, you are eligible for a residence permit when you purchase property at a minimum of USD 375,000. You can rent the property, become tax resident in Mauritius, and repatriate funds or revenue from the sale or rental without restriction.
3) Real Estate Scheme (RES)
With this scheme, small landowners are allowed to have a part in the development plans of Mauritius. It is like a smaller version of the IRS. The people who benefit from RES are more than those who benefit from IRS because small property owners form a larger part of the population.
These are some of the specifications under RES:
- The property size is between 1 acre and 10 hectares
- The land should be freehold which means it is not next to the beach. Since the beach is government-owned
- It is only available to small landowners who have owned the said land for over five years.
- The scheme provides day to day services like waste disposal, security, and maintenance
- There is no minimum investment value, unlike IRS that only allows for a minimum of USD 375,000
A foreigner can purchase 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.
4) G + 2 Mauritius
Like the other mentioned programs, the G + 2 property scheme made it easier for locals and foreigners to acquire apartments and condominiums in Mauritius. Since its establishment in 2006, it has overseen over 30 new projects up and running. Even though the pandemic slowed everything down, business is expected to resume and pick up as more areas are opened up to the public.
If you purchase a residential property in a building with at least two floors above ground level for an amount of at least 375,000 USD, you will now be granted a residence permit.
5) Invest Hotel Scheme (IHS)
The IHS allows hotel owners to raise money to further develop their hotels and villas by selling and leasing their units. It is open to both residents and non-residents. As a non-citizen, you can acquire a room (or a hotel unit) in new or existing hotels approved under the IHS. By allowing this, a non-resident is sure that they have a place to stay in Mauritius, and the hotel gets a steady flow of money from the rooms they have sold. The money goes into growing the villas which translates to more revenue at the end of the day. If you purchase a unit/room for at least USD 375,000, you would be eligible to receive a residence permit.
Short abstract
What are the Investment Models in Mauritius?
- Property Development Scheme (PDS)
- Integrated Resort Scheme (IRS)
- Real Estate Scheme (RES)
- G + 2 Mauritius
- Invest Hotel Scheme (IHS)
Is there a minimum investment amount for foreign investors?
Yes, for most investment models, the minimum investment amount for foreign investors is USD 375,000.
In Conclusion
Mauritius is not only a great place to visit as a tourist, but you can also make it your home. Thanks to the regulations made for the area, you can now own your place on the island and not have to worry about hotel prices fluctuations every time you visit. The investment opportunity is worth a try.
Where do I find out about opening a bank account in Mauritius with a view to retiring there?
Here i have a Blog Post on Mauritius Banks, this could help.
Would like to purchase a property beach property or close to the beach where I could build the minimum of 5 units.
Property Development Scheme could work out for you.