With the growing demand from non-citizens to acquire residential properties. The government of Mauritius has introduced the Property Development Scheme (PDS) which provides the following:
What is the Real Estate Scheme (RES)?
The development of residential properties of high standing;
High-class leisure, commercial amenities and facilities;
Day-to-day management services including security, maintenance and household services; and
Social amenities, community development and other facilities for the benefit of the community.
Who can acquire ownership within a PDS development in Mauritius?
When purchasing a property within an IRS or RES development, the following may acquire ownership:
How is Mauritian residency acquired?
Permanent residency permits for successful purchasers (including spouse and dependents) are linked to the ownership of a villa under the PDS scheme with a minimum investment value of USD500,000. After the government prescribed number of years, the purchaser may then apply for a Mauritian passport in addition to their residency permit.
A residency permit also entitles the resident to apply for an occupation certificate which allows the resident to start a business or to become an employee of a company in Mauritius.
Eligibility for Permanent Residence Permit
The following categories of persons are eligible for Permanent Residence Permit:
- An investor having held an Occupation Permit for three years immediately preceding the date of application for Permanent Residence Permit and whose company’s turnover exceeded Rs 15 million every year during each of these three years in respect of each shareholder of the company.
- A self-employed having held an Occupation Permit for three years immediately preceding the date of application for Permanent Residence Permit and whose income exceeded Rs 3 million every year during each of these three years
- A professional having held an Occupation or a Work Permit for three years immediately preceding the date of application for Permanent Residence Permit, and who has drawn a basic monthly salary of at least Rs 150,000 during the entire three year period.
- A retired non-citizen having held a Residence Permit for three years and who has transferred to Mauritius US$40,000 or its equivalent in convertible currency annually during each of these three years.