Mauritius, with its pristine beaches and favorable investment climate, attracts expats and real estate investors from all over the globe. If you’re contemplating how you, as a non-citizen, can tap into this opportunity of buying a property in Mauritius you're in the right place.
In this detailed guide, we'll walk you through the process of buying property in Mauritius and the added bonus of securing permanent residence.
Since 2002, various schemes have been introduced by Mauritian authorities, paving the way for non-citizens to invest in real estate and enjoy residence perks. Here are the key schemes:
Introduced in 2002, the IRS allows the development of large upscale residential estates, often featuring golf courses or beachfront settings. With a variety of property types like villas, apartments, townhouses, and ready-to-build land plots, these estates are scattered across the island's attractive coastal regions. A purchase within the IRS not only guarantees premium living but can also secure permanent residence for you, your spouse, and dependents.
Launched in 2007, the RES targets smaller luxury developments. With projects on minimum land areas of one acre up to 10 hectares, they are typically found in prime coastal locations such as Grand Bay and the Tamarin/Black River area. To gain permanent residence, invest at least USD 375,000 in an RES property.
In 2015, the amalgamation of IRS and RES gave rise to the PDS. This scheme offers diverse residential options within private estates that include senior living complexes and village-like setups. Just like its predecessors, purchasing within a PDS above USD 375,000 qualifies you for permanent residence.
Smart Cities are extensive mixed-use developments blending residential, commercial, and educational facilities. They are designed to promote a cutting-edge, eco-conscious lifestyle. By investing over USD 375,000 in properties within these smart urban ecosystems, you too can secure permanent residence in Mauritius.
In a landmark decision in December 2016, the government allowed non-citizens to buy apartments in ground-plus-two developments under certain conditions. You can buy any apartment within the building, provided it’s on freehold land, meets a minimum price of approximately six million Mauritian Rupees, and meets the ground-plus-two threshold. A purchase above USD 375,000 in such an apartment earns you permanent residence.
Key Takeaways for Permanent Residence through Property Purchase
Permanent residence is linked to the property: When you sell the affiliated property, the residence status is consequently relinquished.
Permanent residence vs. Citizenship: Buying property under these schemes grants permanent residence but not Mauritian citizenship.
Rights to other property purchases: Ownership within these schemes doesn't entitle you to buy outside of the approved developments.
Multiple properties and residence: Ownership of multiple properties each valued below USD 375,000 cannot be combined to qualify for permanent residence.
It's important to grasp that obtaining permanent residence doesn't equate to Mauritian citizenship and is subject to the property's ownership.
If you decide to sell, the accompanying residency rights transfer to the new owner. Also, a common misconception is the ability to buy additional properties outside the approved schemes after your initial investment, which isn't the case.
At Koch Properties, we have established strong relationships with a reputable team in Mauritius, boasting over 18 years of experience in the real estate market. With access to carefully selected real estate developers, Koch Properties is dedicated to guiding you through every step of your real estate project until the keys to your property are in your hands.
If you're a non-citizen with a vision of owning property on this beautiful island, reach out to Koch Properties. We're your bridge over waters to making your Mauritian dream a vivid reality.
Navigating through the sea of property investment options in Mauritius could be complex but having a knowledgeable ally by your side can make a world of difference.
Whether you’re an expat looking to call Mauritius home, or an investor in search of your next venture, armed with this information, you are well on your way to owning a slice of paradise.
I hope this overview has equipped you with a clearer understanding of the property-buying process in Mauritius for non-citizens. The window to a luxurious lifestyle and permanent residency on this exquisite island could just be a real estate investment away.
---
Are you ready to discover the perfect real estate investment in Mauritius? Contact Koch Properties today and turn your dream into a plan! Your island sanctuary awaits.
