Mauritius, with its stunning landscapes, vibrant culture, and booming economy, has become an attractive destination for those looking to relocate. One of the most appealing ways to obtain residency in Mauritius is through property investment. The government offers a pathway to residency for foreign buyers who invest in eligible real estate projects.
If you’re considering this opportunity, here’s everything you need to know about obtaining residency in Mauritius through property ownership.
Why Mauritius?
Mauritius is a tropical paradise known for its pristine beaches, stable political environment, and business-friendly policies. The island offers a high quality of life, excellent healthcare, and international education options, making it a preferred destination for families, retirees, and investors alike.
Residency Through Property Investment
Foreign nationals can obtain residency in Mauritius by purchasing property under approved real estate schemes. These include:
- Integrated Resort Scheme (IRS): High-end villas in luxury developments with resort-like amenities.
- Real Estate Scheme (RES): Smaller-scale developments with a focus on exclusivity and lifestyle.
- Property Development Scheme (PDS): Projects promoting environmental and social integration, often including community features.
- Smart City Scheme: Properties in smart cities offering a blend of residential, commercial, and leisure facilities.
- Ground+2 Apartments: Residential apartments in buildings with at least two floors, available to foreign buyers.
Eligibility for Residency
To qualify for residency, the property purchase must meet the following criteria:
- Minimum Investment Amount: USD 375,000 or more (or its equivalent in other currencies).
- Eligible Properties: Only properties under approved schemes or developments designated for foreign ownership qualify.
Upon purchase, the buyer, their spouse, and dependents (including children up to 24 years old) are eligible for a residency permit, which is valid as long as the property is owned.
Key Benefits of Residency
- Long-Term Residency: Enjoy long-term residency for you and your family as long as you own the property.
- No Property Tax: Mauritius offers a favorable tax environment with no property tax, inheritance tax, or capital gains tax.
- Business Opportunities: Residency allows you to set up and operate businesses, taking advantage of Mauritius’ status as a global business hub.
- Lifestyle Perks: Access to high-quality healthcare, international schools, and a serene, luxurious lifestyle.
The Buying Process
- Research and Choose a Property: Work with a licensed real estate agency to identify eligible properties.
- Apply for Approval: Submit your application to the Economic Development Board (EDB) for approval of the property purchase.
- Sign the Deed of Sale: Once approved, sign the sale agreement and transfer the funds.
- Obtain Residency: Upon completing the purchase, apply for your residency permit through the EDB.
Conclusion
Investing in property in Mauritius is not just about owning a piece of paradise—it’s a strategic move that opens doors to a life of opportunity, stability, and luxury. Whether you’re looking for a tranquil retirement or a vibrant business environment, Mauritius offers a perfect blend of both.
If you’re ready to start your journey, consult with a trusted real estate agency and begin exploring your options today. Mauritius is waiting to welcome you home!